Baby boomers don't plan to leave their children an inheritance

[Ohiogirl81]

Originally Posted by pollyrobin

2. If you don't pass "anything" on to your next generation -
you are just plain selfish - and I don't care if your
the greatest, silent, baby boomer, X, Y, or any other
generation...

We're all being plenty generous with advice, but some younger folks on this thread are too self-centered to understand it.

[rothbear]

I was going to include several responses, but got to be too many.

We have one daughter (we were responsible to only have as many children as we could AFFORD, love and support). We gave her a roof over her head, food, love, discipline, and paid for part of her education at a private college. She understood that we only had so much money to go towards college, and so she decided to go for scholarships to pay for the rest. She studied hard and won them and graduated with a great education from her first choice college. She got some help from grandparents as well, but NEVER ONCE did she think that she was OWED anything (and she was the only grandchild on BOTH sides)!!! She was brought up to be responsible for her own life and decisions, and if she wanted something for herself, she would have to be responsible and pay for it.

She is now a self-sufficient young woman of 28 who has a wonderful job that she loves (and makes more money than her father and I put together ever have), bought herself a new car several years ago and a house 2 years ago and never bought more than she could afford. She has a 401K through work, and has started her own Roth IRA. When she needed some work done on her roof, we offered to loan her the money to get it done right away. Even though it was an interest free loan, she was appalled that we would be willing to take out of our savings for her, and turned us down flat. She knows that if there is anything left at the end of our lives, she will get it, but she insists that we don't worry about that and have fun in our lives while we still can and if there isn't a penny left, she has told us she is fine with that. She has even paid for me to travel with her a couple of times with her work (as I did with her when she was younger). We love to be together and whatever it takes to do that, we will each do. She knows that we have to save for our retirement (no pensions) as well as any future health problems and is concerned that we do that.

I am thoroughly disgusted by those who think they are more entitled to their parents money than their parents are!! What have you done lately to prove that you deserve any of it?? All you do is whine about them getting Social Security and Medicare?? Would you wish them to just go away and die so that you can get that money?? Would you rather they not take care of their health??? If so, then YOU are the ones who are selfish and I have to wonder how you were raised so that you think you deserve anything!!! Ever think that if they hadn't given you everything you demanded as a child and teenager, then they would have money to leave to you??? If you want to live beyond the means that you have, that is your problem and not your parents'.

[jimhcom]

Originally Posted by chielgirl

Why do you insist on talking about an entire generation when you know that what you say is not true.
Some may, some may not.

What do you want me to say, something absolutely stupid and knowingly false, like your entire generation is a bunch of lazy, entitled goofballs?

If I know it's a lie, why state it?

Sorry but facts and statistics say you are wrong. The boomers were the generation that was handed the most, and not only squandered what they were given, but mortgaged the future of their decedents. Sorry if the truth offends you, learn to deal with it. You belong to the most irresponsible and selfish generation in recent history.