Saturday, January 4, 2025

Boomers...actually, millennials. The couple has several children.

Some his, some hers.  And not a one is going to inherit a dime, from their (wannabee) jet-setting father or mother.  Once again, that 80's bumper sticker, "We're Spending Our Children's Inheritance," brought out, unfurled, and tied to the plane's tail-wing.  "Lovers of self..." 

The couple wants to spend it up, not leave any remaining.  Though somehow, doubt leaving any money behind will be a problem, for the article had also mentioned the couple having paid off their credit card balances.  But wait, if they have the funds to globe trot, then what was up with the credit card statements, to begin with?   Uhm, don't the well-to-do pay off their cards, the day after the bills arrive in the mailbox?

Based on the couple's 50-60ish age, the six adult children are probably in their 20s and 30s. Twenty to thirty years from now, a modest inheritance for each of them - let's say 20k per - could pay down, if not pay off, a mortgage - or fund a (low risk) retirement account.  Though have heard, that much of time, inheritances end up like the proverbial 304.

Know if a couple who inherited 15k - that was no chump change fifty years ago; they could have paid off their mortgage, but chose a (pseudo) high end vacation.  Then, some thirty years later, couldn't pay off their home-equity, and ended up in foreclosure.  Some fifteen years ago, a widow had inherited around 100k - run through within two years.  Her kids (with whatever their own financial obligations) had to come up with the money for her funeral - there had been no life insurance...take a good guess. 🤔


"For men shall be lovers of their own selves, covetous, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy." 2 Timothy 3:3

"A good man leaveth an inheritance to his children's children : and the wealth of the sinner is laid up for the just."  Proverbs 13:22

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