Quote:
Originally Posted by Lubicon
For us it's likely drawing down capital. We don't expect to receive a significant inheritance either. Neither of our sets of parents will have much to pass down despite both being what I would consider middle class and have defined pensions.
Unless I come into a large amount of money I've always been a believer that the last cheque you write, the one that takes your bank balance to zero is your funeral. Our kids will be looked after but they won't be getting a big inheritance.
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My kids are really young, and so far my plan is to take care of the educations for them via RESP, and MAYBE some downpayment help on their first home/apartment. The rest I plan on spending on myself in retirement. But if I'm as well off as OP for instance, then I would happily do things like take my adult children and their families to nice dinners and pay, or the odd vacation together etc.
When I pass, they can sell the family home and split the money and that can be their inheritance.
That's the plan anyway, of course who knows what will happen in reality.