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    Most folks I know that got any sizeable inheritance are pretty chitty people. I just hope I leave with kids not owing anything on my passing (funeral, etc).

    Comment


      Originally posted by txwhitetail View Post
      Most folks I know that got any sizeable inheritance are pretty chitty people. I just hope I leave with kids not owing anything on my passing (funeral, etc).


      There are plenty of folks you know who have inherited money that are great people. You just don't have a clue that they inherited money. They don't brag about it or bring it up.

      There are just as many folks that are horrible people that never inherit a dime. Inheriting money doesn't change someone's personality. If they were a DB before they got money then they will be one afterwards and vice versa.

      My job allows me to see every side of this issue. I will continue to do everything I can to instill a strong work ethic and good character in my boys. That is the best thing I can leave them and if I had to choose between that and leaving them set financially I would choose to leave them as hard working, good men. Fortunately, I don't have to choose. Those two things aren't mutually exclusive. I can teach them to be men of strong character that aren't afraid of work AND I can leave them money. I want more for my boys and even more again for my future grandchildren than I had.

      I don't believe that my parents or my in-laws will leave my wife and I a dime. They just don't have a lot. They live relatively comfortable lives but most of what they have accumulated will be used up on medical expenses as they age. That is fine. I don't NEED their money. I work hard and have been blessed to make some good decisions in life.

      But with my boys it will be different. I plan to spend money enjoying life and making memories with them and my wife. I won't hold back from doing something just to make their inheritance bigger. But they will have better opportunities for success in life than I have had. It takes money to make money. Part of my legacy to my boys will be showing them how to do that and starting them off in the right direction long before (I hope) I pass. If my boys have to work late into their lives then I didn't do my job or they didn't listen.

      There are some folks on here spouting foolishness about trying to die broke and basically burning up cash because "I made it! It's mine!!!" Enjoy your life. But potentially burdening your children because you are hell bent on not leaving them anything (and spending every last cent) is nothing but pure selfishness and flat out STUPID.

      At the end of the day, I love my boys more than I love myself. I won't deprive myself from enjoying life but that doesn't have to be exclusive of leaving them something to build on.

      Comment


        Originally posted by RdRdrFan View Post
        There are plenty of folks you know who have inherited money that are great people. You just don't have a clue that they inherited money. They don't brag about it or bring it up.

        There are just as many folks that are horrible people that never inherit a dime. Inheriting money doesn't change someone's personality. If they were a DB before they got money then they will be one afterwards and vice versa.

        My job allows me to see every side of this issue. I will continue to do everything I can to instill a strong work ethic and good character in my boys. That is the best thing I can leave them and if I had to choose between that and leaving them set financially I would choose to leave them as hard working, good men. Fortunately, I don't have to choose. Those two things aren't mutually exclusive. I can teach them to be men of strong character that aren't afraid of work AND I can leave them money. I want more for my boys and even more again for my future grandchildren than I had.

        I don't believe that my parents or my in-laws will leave my wife and I a dime. They just don't have a lot. They live relatively comfortable lives but most of what they have accumulated will be used up on medical expenses as they age. That is fine. I don't NEED their money. I work hard and have been blessed to make some good decisions in life.

        But with my boys it will be different. I plan to spend money enjoying life and making memories with them and my wife. I won't hold back from doing something just to make their inheritance bigger. But they will have better opportunities for success in life than I have had. It takes money to make money. Part of my legacy to my boys will be showing them how to do that and starting them off in the right direction long before (I hope) I pass. If my boys have to work late into their lives then I didn't do my job or they didn't listen.

        There are some folks on here spouting foolishness about trying to die broke and basically burning up cash because "I made it! It's mine!!!" Enjoy your life. But potentially burdening your children because you are hell bent on not leaving them anything (and spending every last cent) is nothing but pure selfishness and flat out STUPID.

        At the end of the day, I love my boys more than I love myself. I won't deprive myself from enjoying life but that doesn't have to be exclusive of leaving them something to build on.
        Well said and I agree 100%. Never understood the spend every last dime because I worked hard and it's mine mantra but to each their own.

        My father passed away with nothing really to his name and my mother will most likely be the same. I've given my mom around 10k for various things and will need to buy her a newer car this year so it's somewhat reversed. No doubt that has created some animosity from me but I love her dearly and miss my father.

        This situation makes me want even more to leave my daughter with something significant not just memories or items like guns, etc. Paying for a great education and her not having to take the first job offered is important to me. Maybe she wants to take a year off after undergraduate and travel and see and experience things I never had the chance to do because I needed to start paying back school loans.

        My wife and I both worked in the corporate world for 20 years before having our daughter so maybe my perspective is a little different. We ended up doing lots of fun things and attaining a little wealth along the way. Now having a child has made me realize I want much more for her and feel giving her a head start will let me die a happy man,

        Comment


          Originally posted by RdRdrFan View Post
          ........At the end of the day, I love my boys more than I love myself. I won't deprive myself from enjoying life but that doesn't have to be exclusive of leaving them something to build on.
          Every wealthy American family dynasty started with that one person and was built on by future generations. Educate your sire about growing wealth.

          Comment


            It goes both ways.

            If you let them know you’re planning to spend all your money, don’t be surprised if you’re old and need assisted living and healthcare they feel the same and say they’ll visit you when they can in whatever public facility you’ll wind up in when you’re broke and can’t live on your own.

            Tough decisions.


            Sent from my iPhone using Tapatalk

            Comment


              Originally posted by RdRdrFan View Post

              But potentially burdening your children because you are hell bent on not leaving them anything
              I was agreeing with you until I saw this. I don't think anyone is "burdened" by not receiving an inheritance. That statement really sounds like a lot of entitlement talk. We shouldn't be basing our success or failure on what we we have been given.

              Comment


                Originally posted by txwhitetail View Post
                I was agreeing with you until I saw this. I don't think anyone is "burdened" by not receiving an inheritance. That statement really sounds like a lot of entitlement talk. We shouldn't be basing our success or failure on what we we have been given.


                Burdening them with paying your medical expenses late in life.

                Read it in context.

                Comment


                  Going to be hard to spend that last dollar when you’re laid up in a hospital/nursing home/assisted living and you don’t even know your children’s names. By then, you’ll have a POA Anyway im sure so you really won’t hve much of a say in your finances anymore because you will be incompetent by this time.

                  Then if you did decide to spend it all and your kids don’t make a strong living, that Medicare and social security won’t get you much. You’ll be living your last days in a **** hole. You’ll actually be a pain in the *** because you can’t feed yourself, walk on your own, or whipe your own ***, let alone remember where you’re at.

                  So you better save some of it, cause you’re kids are going to need it to take care of your old raggedy *** one day.

                  Comment


                    Originally posted by Tbar View Post
                    Every wealthy American family dynasty started with that one person and was built on by future generations. Educate your sire about growing wealth.
                    I agree with this, but for every one of these family dynasties that was built on and expanded, there are probably two where it was ****** away within a generation or two.

                    Comment


                      The vast majority of Americans would do well to help their kids through college/trade shool and save enough to support themselves in old age.

                      Comment


                        Originally posted by TxAg View Post
                        The vast majority of Americans would do well to help their kids through college/trade shool and save enough to support themselves in old age.


                        True but most won't do that. Most on this thread won't have enough to support themselves in old age. That is evident by the comments.

                        But it doesn't mean that everyone HAS to live their life that way. To each their own.

                        Comment


                          Originally posted by RdRdrFan View Post
                          True but most won't do that. Most on this thread won't have enough to support themselves in old age. That is evident by the comments.

                          But it doesn't mean that everyone HAS to live their life that way. To each their own.
                          You seem to think that people who don't think a big inheritance to their kids is a necessity in life are also dumb and broke when they get old...

                          You are proving some of these guys points on their posts.

                          Comment


                            I know someone who inherited 2 million after high school from the parents. Didn't take long to blow it and had no desire to ever work hard once the money started dwindling. Wouldn't be supervised if said person is taking government checks now.

                            Comment


                              Originally posted by txwhitetail View Post
                              You seem to think that people who don't think a big inheritance to their kids is a necessity in life are also dumb and broke when they get old...



                              You are proving some of these guys points on their posts.


                              Thanks for telling me what I think.

                              The reality is that the majority of people with the mindset of "I'm gonna spend it all and the last check I write is gonna bounce!" are, in most cases, going to end up being a burden on their children. I don't have a problem with someone like Warren Buffet saying that he won't leave his fortune to his children. That is 100% his call to give his money to someone else. But he will never be a financial burden on his children. If you plan on dying broke then you will most likely be broke before you die. Who is responsible for taking care of you then? Your kids or the government are pretty much the only options to take care of you in that scenario. At that point.......who is the "chitty" person?

                              Comment


                                The majority of what my wife and I have will go to which ever of us survives longer than the other. If I die first, I don’t want my wife to ever need or want for anything after I’m gone. I certainly don’t want her to have to deal with any debt.

                                People who are givers will want to leave a legacy for their survivors.


                                Sent from my iPhone using Tapatalk Pro

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