Quote:
Originally Posted by CliffFletcher
People today typically don’t receive an inheritance until well into their 50s. Too late in life to fund much of anything besides a more comfortable retirement.
So any big contributions to your children's’ long-term welfare need to be made earlier. The problem is it’s tough to estimate how much you’ll need yourself by the time you shuffle off this mortal coil. Giving an adult child 150k towards a house when you’re 60, and then running out of cash at 82 because you wound up in residential care at $5k a month for 5 years might not be the best play.
But in general, I agree with Sliver. It’s unfair, but people who don’t get significant help from parents in the form of post-secondary education and down-payment towards a home are going to struggle to make it into the middle and upper-middle-class.
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Yeah, you're right. I guess I meant financial help, in general. As a general rule, if you've raised your kids in a loving home, fed them, put clothes on their backs, you've done your job. Rest is up to them.