re: How generations plan to transfer assets

As all my wealth is tied up in Beanie Babies, I just plan on giving the max number of tax-free ones to my dog each year.

My boomer parents set up a life insurance policy for my kids where my kids will receive 100k from my parents when I die.

I usually don’t offer thoughts on how they spend their money or what they plan to do with it because it’s not mine. They earned it, they can do whatever they want to with it. But this time they asked.

I told them my kids are in college and 20,000 after college graduation will help them much more than 100,000 when they are in their 60s.


The boomers didn’t listen and bought the policy anyway.

I guess it will be a nice reminder of the kids grandparents when they are grandparents themselves.

Reality has set in for Boomers most of whom haven't saved enough for their own needs much less their heirs. Younger generations meanwhile are paying for their adult kids' bills and health care to age 26 and beyond. X and millenials will soon realize most of them are underfunded for their own retirements.

I think most folks that are 40s and 50s are gonn not be all that wealthy after 65 as cost keeps rising.

Choices will either be keep working or live modest

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I am betting those numbers change as people get older.

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Yep. The closer you are to trying to figure out how to enjoy life without working until you die, the more these numbers will shift.

I’m 61. Four years ago I ended up with a considerable amount of money due to some items I inherited from my grandparents. I invested all the money in rental vacation property that I make money off when they are rented. My kids can use then anytime they want. They will inherit the property when I die, but the income will be part of my retirement income.

I haven’t spent a penny of that windfall, only invested it. I spent a few tens of thousands out of pocket on the properties as well as a lot of time updating them.

So I will hold on to them until I die ( or close to it) but my kids will benefit more than me.

Does that make me selfish?

Chart is fake, how can you be this gullible?

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rampant inflation negates all of that shite.

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Which is why saving your money in a normal checking or savings account is an awful idea.

Property, side hustle, stock markets, bonds... Anything but leaving it liquid.

You can only gift so much each year in cash.
I think it's $16K this year, but it goes up every year.

A friend does other things, too, like tickets, vacations, etc..


ETA: $19K this year..

Of course, we had dipshits actually supporting an estate tax (muh fair share!) on this site. An inheritance/estate tax is nothing but stupidity and class envy.