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Did you get an inheritance? Or some financial gift?

Posted on 10/20/23 at 1:31 pm
Posted by fareplay
Member since Nov 2012
4813 posts
Posted on 10/20/23 at 1:31 pm
Do you plan on giving same to your kids? I’m surprised at how many parents buy their kid their first car, house, school, etc. not sure if that will Be returned to the next generation.
Posted by patnuh
South LA
Member since Sep 2005
6709 posts
Posted on 10/20/23 at 1:33 pm to
I didn’t get shite. I plan to make sure my kid has a reliable car that’s paid for and education paid for.
Posted by SloaneRanger
Upper Hurstville
Member since Jan 2014
7680 posts
Posted on 10/20/23 at 1:34 pm to
If the parents are well off, there are good financial planning reasons to make lifetime gifts. Most parents obviously can’t afford to make large gifts.
Posted by Btrtigerfan
Disgruntled employee
Member since Dec 2007
21415 posts
Posted on 10/20/23 at 1:34 pm to
Nice try IRS.
Posted by GeauxZone90
Baton Rouge
Member since Jul 2010
2920 posts
Posted on 10/20/23 at 1:34 pm to
I got a down payment on my home in 2019
Posted by fareplay
Member since Nov 2012
4813 posts
Posted on 10/20/23 at 1:35 pm to
Damn that’s some nice family
Posted by SuperSaint
Sorting Out OT BS Since '2007'
Member since Sep 2007
140462 posts
Posted on 10/20/23 at 1:36 pm to
quote:

Did you get an inheritance? Or some financial gift?
yes and it will all go directly to my boys
Posted by TheWiz
Third World, LA
Member since Aug 2007
11675 posts
Posted on 10/20/23 at 1:36 pm to
I know what my MIL currently has and what her future looks like when her husband passes. I am hopeful for a sizeable windfall for our family, but I save and plan like it will never happen.

I also think my 97yo granny is going to leave me +/- $25k but I could be wrong there.
Posted by Raoul Stimulato
Hale Bopp Comet
Member since Sep 2022
1222 posts
Posted on 10/20/23 at 1:36 pm to
Just a marble bag full of dirt and an old, broke down nag stabled in Ohio.

One last kick in the nuts too.

Thx pa.
Posted by tigernurse
Member since Dec 2005
29999 posts
Posted on 10/20/23 at 1:37 pm to
we have a will set up that leaves our estate in a trust to the kids.

we also have Living Will's and DPOA's in place also, because I don't want my children to be put in a position where they're tasked with making end of life decisions for me.
Posted by Rize
Spring Texas
Member since Sep 2011
15773 posts
Posted on 10/20/23 at 1:37 pm to
I got small stuff no more than $1500. I bought my first house at 25 and my parents bought $1500 worth of blinds for the house.

Got married at 27 and they bought my picture package for around $1000 to $1500, we paid for the wedding and honeymoon.
This post was edited on 10/20/23 at 9:29 pm
Posted by Klark Kent
Houston via BR
Member since Jan 2008
66784 posts
Posted on 10/20/23 at 1:37 pm to
you’re kind of obsessed with money and how much people have or don’t have
Posted by Triple13
Ferriday
Member since Aug 2023
504 posts
Posted on 10/20/23 at 1:38 pm to
I've never inherited anything besides a few guns. My parents helped with college. My dad has discussed what he is leaving me whenever he passes which is about 10 acres and a few other things. I do plan on leaving whatever I have left to the kids which should be significant.
Posted by tigersownall
Thibodaux
Member since Sep 2011
15310 posts
Posted on 10/20/23 at 1:38 pm to
I haven’t gotten shite. Probably won’t. I have already resigned that I will have to work for everything I have and life will be a struggle financially
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
119100 posts
Posted on 10/20/23 at 1:39 pm to
We sold the home I grew up in for $24k and split that among 4 siblings.

We were poor by anyone's standards.

My wife and I have no kids. Our estate is 33% to our church missions, 33% to one animal shelter we adopted from and 33% to another.
Posted by OldHickory
New Orleans
Member since Apr 2012
10602 posts
Posted on 10/20/23 at 1:40 pm to
Just this old guitar and an empty bottle of booze.
Posted by Croozin2
Somewhere on the water
Member since Dec 2004
3188 posts
Posted on 10/20/23 at 1:41 pm to
Nope! Purchased my first house FROM my dad. One of his few remaining rent houses and it was in deplorable shape, but not a bad neighborhood. Between what I gave him for the 900sf shell and adding a double garage and boat port, we gained some great equity in it the 6 years we lived there. My parents, and my grandparents, were never well off. Straight up middle class.
Posted by jbgleason
Bailed out of BTR to God's Country
Member since Mar 2012
18901 posts
Posted on 10/20/23 at 1:42 pm to
If (IF) a parent has the means, I think they should get their kids through school with no debt. Once they start their career, they are on their own except for emergencies obviously. For daughters, tradition dictates a wedding. I would counter that you give them a lump sum and let them choose between wedding or home down payment.

But they say the wedding is actually for the Mother of the Bride to show off. So all bets are off if you have to keep the wife happy.
Posted by Clyde Tipton
Planet Earth
Member since Dec 2007
38732 posts
Posted on 10/20/23 at 1:45 pm to
My grandmother left each grand kid a couple grand (4 figures) when she passed. That was legit when I was like 20. I was hood rich for a few months.

My mom is 72 and still kicking. We were shooting AR's this morning at her place, so I won't be seeing anything in the near future, hopefully.

My wife and I do well enough. I'm not sweating or banking on any big inheritance.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
260225 posts
Posted on 10/20/23 at 1:48 pm to
quote:

you’re kind of obsessed with money and how much people have or don’t have


Its bizarre.
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