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Started By
Message
1
Posted on 7/3/15 at 2:02 am to lsu711
quote:
If it makes you feel better, go ahead. If it motivates you to save less, then you should continue to exclude.
this. I have never counted on it. its my parents money and its their choice to do it as they see fit. Don't get me wrong I'll be a little pissed if they make a monetary donation to usl I might be a little miffed.
Posted on 7/3/15 at 9:13 am to Hawkeye95
I agree with everyone else - they raised me to look after myself so if I do inherit that'll be nice but I'm not counting on it.
Posted on 7/3/15 at 4:51 pm to Hawkeye95
I try not to think about it.
But I know my father-in-law is loaded. Granted, he plans on living nicely until he's 100, and he lives a healthy lifestyle. I fully expect him to live a long, long time.
But I know he is brilliant with money, retired at 56, and inherited $500k ("about $500k after taxes" was the exact quote) from his own mother-in-law when he was in his late 30s.
So I don't include it in any planning, but I do expect to see a nice size chunk one day in the future.
But I know my father-in-law is loaded. Granted, he plans on living nicely until he's 100, and he lives a healthy lifestyle. I fully expect him to live a long, long time.
But I know he is brilliant with money, retired at 56, and inherited $500k ("about $500k after taxes" was the exact quote) from his own mother-in-law when he was in his late 30s.
So I don't include it in any planning, but I do expect to see a nice size chunk one day in the future.
Posted on 7/3/15 at 6:04 pm to Hawkeye95
Nope. I've encouraged my mom and dad to have fun and enjoy their retirement but still be responsible which they have been forever. I did ask them to please leave me enough to take care of them and bury them when the time comes.
My real father .. well, I'm his only child so I guess I'll get something but could not care any less if I do or not. True story.
Now my husband and I are saving for retirement and would love to have something for our children to inherit after we're gone. That said, we've provided them with good educations and hopefully good decision making and life skills so that they'll be ok should we die with nothing to leave them.
My real father .. well, I'm his only child so I guess I'll get something but could not care any less if I do or not. True story.
Now my husband and I are saving for retirement and would love to have something for our children to inherit after we're gone. That said, we've provided them with good educations and hopefully good decision making and life skills so that they'll be ok should we die with nothing to leave them.
Posted on 7/3/15 at 8:53 pm to Hawkeye95
I wouldn't suggest it. My grandfathers second wife was put in a home early due to illness and him being older. I don't know the details, but it took half of his savings. By the time he died (lived into his 80s), there wasn't much after split between his children. Inflation is a bitch, and if someone lives a long time but is disabled and doesn't have LTC insurance, they will use most of their cash.
Posted on 7/4/15 at 6:57 am to nelatf
quote:
Man, you are going to have a family war going on once that 30 starts to end...prayers sent.
tell me about it, they've already started
Posted on 7/4/15 at 4:42 pm to Hawkeye95
quote:
Do you include inheritance in your retirement planning?
Well, that's past tense for me since I've been retired for a while. I did not include inheritance in planning since my parents were poor. Dad was a HS drop out who worked as a roughnecker, tool pusher and roustabout for 40 years. Knowing that you won't get anything is a great motivator to invest wisely.
Posted on 7/6/15 at 8:36 am to hungryone
quote:
the final years of life can be hideously expensive. Have seen elderly relatives go through a hundred thou or more using round the clock nursing, in home sitters, supplemental medical care, etc. God forbid, but a dementia diagnosis can lead to needing a horribly expensive memory care nursing home...
This. A majority of your health care costs in life come in your last few years of life. There are way too many unknowns that can come up.
Posted on 7/6/15 at 8:57 am to Hawkeye95
I don't see anything wrong with modeling a potential scenario. As others have said, you don't want it to change your current savings path.
If you have reason to believe you will receive an inheritance in the future, it makes complete sense to consider ways to put it to use.
I think the greatest variable would be the time (your age) an inheritance is received. Your plan for the money may change drastically if received at 45 as opposed to 55.
If you have reason to believe you will receive an inheritance in the future, it makes complete sense to consider ways to put it to use.
I think the greatest variable would be the time (your age) an inheritance is received. Your plan for the money may change drastically if received at 45 as opposed to 55.
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