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[AJUMP23]

This photo is getting some traction on the socials.

It has turned to deriding boomers as selfish. But what I want to know is if you are planning for the future how do you plan to handle it. Spend it while alive. Pass it on. Set your kids up for success.

I have accounts set up for my kids already. I want to start a trust and I would like to build a land portfolio for them.

 

[tamago84]

Wtf are those percentages

 

[Maiden Voyage]

Inheritance as long as I don't outlive my nest egg. That's the plan anyway.

 

[Toons]

What wealth lol

 

[Aesius]

My in-laws are determined to basically zero out their retirement accounts while they are still alive and healthy enough to be active. They have a $30k annual travel budget in retirement. I don’t blame them because it’s their money, but it is a bit selfish to not consider family or your legacy whatsoever. I don’t really care about their money but they have grandchildren who likely won’t see a cent of it.

 

[jason10mm]

My folks are comfortably well off so I imagine they will have e a decent amount to pass on or give away. They can't really spend it all at their age.

Buuuuut it doesn't take much of an illness or decline before you need in home nursing care or rehab/nursing home stuff, and that will suck you dry before you know it. So I can't blame old folks for hoarding 'just in case'.

Best thing is to put it all in a trust so you 'look' poor to be able to get more gov services quicker but can still access the money if you want. I also don't blame old folks for not gifting it all to their kids and then hope to get any of it back. Trust falls quickly when $$$ is on the line.

 

[AJUMP23]

Wtf are those percentages

I would read it as 53% of that demographic what the next gen to enjoy it with them.

So it is out of a 100 for each demo on each category.

 

[Days like these...]

What wealth lol

I will die destitute

 

[OverHeat]

Buying shit I don’t need

 

[AJUMP23]

Buying shit I don’t need

You have like 8 kids.

 

[BigBeauford]

That is some of the most retarded bar graph design ever. Third category looks all the same. Not a god damn chance Millennials are the least selfish group.

 

[AJUMP23]

That is some of the most retarded bar graph design ever. Third category looks all the same. Not a god damn chance Millennials are the least selfish group.

Well they have the least so it matters to them the least. Once they get something their perspective will probably change.

 

[WoJ]

That is some of the most retarded bar graph design ever. Third category looks all the same. Not a god damn chance Millennials are the least selfish group.

They aren't. But they like to act like they are noble. When they get their inheritances they won't be.

 

[Heimdall_Xtreme]

I save, I have 8 different investments. I don't spend it like a fool, but I buy up to a certain limit.

 

[Trogdor1123]

I make pretty decent money right now. Have 2 pensions and a few investments of varying size. Everything I have is either paid off or will be when I die. My wife/kids will get a few million when I die above and beyond with my various life insurance policies.

However, once my kids complete school and move out, I’ll scale back on the insurances (except on properties).

I have no intentions to pass anything on after I die though for anyone that isn’t a dependent. I’m going to take care of my wife and wine and dine my wife till the day I die.

My parents grew up with literally nothing, one had a dirt floor house at one point. Neither are educated but they worked incredibly hard and made a good life and did well for themselves. I’ve told them to spend every dime they have and enjoy their lives. They deserve it. Don’t leave me a penny. Just enough for a service. They earned it for all the crap I put them through.

 

[simpatico]

Move to the poorest country in Eastern Europe.
Buy a bunch of military surplus armor
Hire military
Do cool paramilitary stuff
Get beret and Michael Jackson dictator tour wardrobe
Live it up

 

[Quasicat]

My state retirement pension will fizzle out when I do. Assuming I go after my wife, the kids will take what they want of my personal belongings and sell the rest. I have a modest life insurance policy so they won’t get rich off of me. I told my parents when we were talking about it, I’m not asking for anything except a zero balance when all is said and done. I don’t want anything and I don’t want to spend anything for their final expenses.

 

[Vyse]

Inheritance as long as I don't outlive my nest egg. That's the plan anyway.

This is me.

 

[Unknown Soldier]

My in-laws are determined to basically zero out their retirement accounts while they are still alive and healthy enough to be active. They have a $30k annual travel budget in retirement. I don’t blame them because it’s their money, but it is a bit selfish to not consider family or your legacy whatsoever. I don’t really care about their money but they have grandchildren who likely won’t see a cent of it.

No one has any right to their money and if they choose to die with zero that's entirely their right

Their children and grandchildren should consider being less greedy and entitled is they actually expect any money more than zero

 

[Quasicat]

My grandmother died a few years ago and left a large amount of land to split between my mom and her sisters. The sisters were able to team up and lease the land, against my mom’s wishes, and it started to give her a lot of stress. I told her to sell her part if she was unhappy and she pocketed around $150,000. My sister flipped out on me and told me that mom would piss away our inheritance. I reminded her that our inheritance is our parents’ income and they should spend it as they wish.

I don’t get people, she makes more than I do with less education and she acts like she’s in the poorhouse waiting for her payday. I would rather have my parents longer in my life and get nothing in the end.

 

[Aesius]

No one has any right to their money and if they choose to die with zero that's entirely their right

Their children and grandchildren should consider being less greedy and entitled is they actually expect any money more than zero

I didn’t say anyone is entitled to it. And just like they’re entitled to do with it however they please, I’m entitled to think of them not giving any to family members as being somewhat selfish. Especially since they both received inheritances from their own parents.

 

[StreetsofBeige]

Single, no kids. Never married.

I'm splitting all my assets in my will to my nieces and nephews. Assuming my status doesn't change I already told them. If my retirement tracker holds true, each one of those brats should get around $700,000 each from me when I'm dead.

When I'm in the hospital dying, they better order me a hot looking blonde hooker so at least I'll have a smile on my face when I bite the big one.

 

[StreetsofBeige]

My grandmother died a few years ago and left a large amount of land to split between my mom and her sisters. The sisters were able to team up and lease the land, against my mom’s wishes, and it started to give her a lot of stress. I told her to sell her part if she was unhappy and she pocketed around $150,000. My sister flipped out on me and told me that mom would piss away our inheritance. I reminded her that our inheritance is our parents’ income and they should spend it as they wish.

I don’t get people, she makes more than I do with less education and she acts like she’s in the poorhouse waiting for her payday. I would rather have my parents longer in my life and get nothing in the end.

Some people are just greedy. And when it comes to inheritance, some people grab the cash like it's a lottery they arent giving up. Horror stories you hear about people groveling over dead people's money seems like a Hollywood thriller plot, but sure is sad when it's real life.

My parents have a property overseas not worth a lot of money. When it's split up, my parents told me I'd get roughly $30,000 as my share. And it should be coming maybe in the next year or two when they get around to dumping it. Told them dont bother. Split it among the kiddies (my nieces/nephews who are their grandkids). End of the day, it's not a lot of money when it's split up among them, but things cost a lot now so if they can each pocket around $5k let em have it. They can use it towards tuition or their first car. If I got it, all I'd do is be boring and toss it in a stock or investment property.

 

[Badlucktroll]

my shits all tied up in stonks

 

[Rival]

I’m hoping that I can have my very modest home paid in full in the next few years and just be able to afford basic living expenses and healthcare for myself when I get older. I have no heirs nor will I but even in that scenario I don’t know I’ll ever be able to retire. I’ll probably die young anyways given my family history so it won’t really matter anyways.

 

[Dacvak]

These are three pretty limited options.

 

[ForAcademicPurposes]

 

[AJUMP23]

These are three pretty limited options.

Luckily there is a whole thread for posting thoughts.

 

[DeafTourette]

I want to enjoy it while I am alive, share it with those I love and have it given to those who survive me. And there's ways to do all of those things concurrently!

 

[Windle Poons]

I have no family so...

 

[navii]

I’m a gen x, I hope when I die I have spent all of my money on myself living it up. I don’t have kids and I don’t want kids. One exception would be if I am living behind a partner.

 

[Quasicat]

I’m a gen x, I hope when I die I have spent all of my money on myself living it up. I don’t have kids and I don’t want kids. One exception would be if I am living behind a partner.

I’ve got a couple of friends from high school, that I’m really close to, that have said the same thing and have told me when they go I get everything. Both of them have amassed huge collections of anime statuettes, Lego sets, movies, and games; Literally filling entire rooms of their house with these items. When people visit them, they get critical about wasting their money, but I can tell it makes them really happy to have their stuff. To each their own.

 

[Lambogenie]

I'll probably use it on myself.
But I'd like to leave a good enough amount to leave behind for family. You just don't know how hard they might get it.

But then tax is a bitch so maybe spending it is better after all.

 

[AJUMP23]

I'll probably use it on myself.
But I'd like to leave a good enough amount to leave behind for family. You just don't know how hard they might get it.

But then tax is a bitch so maybe spending it is better after all.

You can do things to help avoid taxes like trust and other tax free growth accounts.

 

[RagnarokIV]

First I would accumulate some - but that's where I'm going wrong.

 

[Ass of Can Whooping]

It dies with me

 

[Jinzo Prime]

Move to the poorest country in Eastern Europe.
Buy a bunch of military surplus armor
Hire military
Do cool paramilitary stuff
Get beret and Michael Jackson dictator tour wardrobe
Live it up

Poorest country in Europe is Ukraine, so good luck with the "living it up" thing!

 

[NeoIkaruGAF]

This photo is getting some traction on the socials.

Look at all those people lying in surveys.

A lot of us will distribute their wealth in their lifetime, oh yeah.
To take care of their aging parents in the face of rampant dementia and disability.
And to pay for insurance against basically everything, seeing how it’s going with climate and health crises all over the world.

 

[MikeM]

- I’m investing in my kids’ future schooling already with RESPs in Canada.
- I’m doing my own investments with stocks that I plan on giving some to my kids once they are older and mature enough to understand how the market works.
- Hope to be in a position to help them each buy a property once they get solid career wise.

All to say that they will be getting some of their inheritances at different parts of their lives.

 

[Laptop1991]

No way i would waste it all, i would buy nicer things than i have now, but mostly the same as i have now, not loads of houses or cars etc and more importantly still make sure my family inherited.

 

[IFireflyl]

None of these options are mutually exclusive. I want to enjoy it for me, have an inheritance for my children/grandchildren, and spend it helping others.

 

[Raven117]

That chart means nothing.

When one can see the end of this ride, it’s only human to want to enjoy what time you have you have left. That usually costs money. My bet is in 30 years, that chart looks exactly the same with the names switched.

 

[jason10mm]

Single, no kids. Never married.

I'm splitting all my assets in my will to my nieces and nephews. Assuming my status doesn't change I already told them. If my retirement tracker holds true, each one of those brats should get around $700,000 each from me when I'm dead.

Thats an oddly specific amount to be plotted out in advance, you have some insider knowledge about when you are gonna die?

When I'm in the hospital dying, they better order me a hot looking blonde hooker so at least I'll have a smile on my face when I bite the big one.

Why take the chance? Just advance me a small sum and I"ll audition a couple for you and have them on speed dial for when you kick it