Quote:
Originally Posted by Fuzz
But if your plan includes living to 80, your kids are probably 50-60 by the time you die. How much inheritance do they need at that point? Shouldn't they be pretty financially secure? Is working extra hard or longer to have money for that really logical? And if you do have extra money, hand it over when they can use it. Getting a financial gift to pay for your first mortgage is a lot more useful than using it for the last mortgage payment.
I get that you can't predict your death day, but it seems it would make sense if you don't have huge excess to not have a plan where you preserve that wealth at the expense of more working years, and spending less time with them.
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This is pretty spot on.
I think there is a point to having wealth where you can help your kids with a down payment or first housing purchase, tuition etc. Giving them a huge head start in their adult life. But If I am in my 60's, my lifestyle is probably going to be pretty set.
Maybe your snotty ass grandkids will get to enjoy the fruits of your labour...