Or preserve a large part of their capital to give their children a boost?
2007-10-15 04:05:11 · 54 answers · asked by pete the pirate 5 in Family & Relationships ➔ Family
Spend it like there is no tomorrow.
2007-10-15 04:07:03 · answer #1 · answered by Anonymous · 7⤊ 2⤋
Where in the world does it say that parents must leave their money to the children???? It is nice if your parents do leave some money but they should enjoy their money while they are alive. Some parents spend and some want to leave it for the kids. Children who EXPECT an inheritance are really being selfish, as that money didn't belong to them, they didn't work for it at all. Many a child gets no boost in life. Some do get lucky. Try to be happy no matter what the circumstances. Sometimes older parents have done without for such a long time that they finally say they are going to enjoy life. Be grateful if you are left any money at all. Oftentimes, inherited money is so wasted because it did not have the same value as earned money. My child was so amazed how hard it was to earn a dollar. When that happened, my child hit the world of reality. Earned money is hard to come by. Enjoy life whether rich or poor.
2007-10-15 04:13:23 · answer #2 · answered by sweetstlouiswoman 3 · 0⤊ 0⤋
Should elderly parents 'spend the kids inheritance' having a good time before they die?
it's not the "kids inheritance" until the parents die they earned the money and they can spend it how they want if they want to they can leave the kids nothing and give every thing they have to their neighbor to church or charity it sounds like you believe you are entitled to the money and that is the problem with most Americans
2007-10-15 04:29:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
At what point does one person's income become another person's "inheritance". If there's money left after a person dies, it becomes an inheritance to whomever it is left. While the person is still living he has every right to use it as he sees fit. There's no reason why an "elderly parent" shouldn't have some fun with the money he spent all his life working for. This is assuming the children are adults and not minors.
2007-10-15 04:22:43 · answer #4 · answered by innerradiancecoaching 6 · 0⤊ 0⤋
Well, it's not the kids' inheritance until *after* the parents die. Until then it is the parent's money to do what they want with it. That being the case I guess the decision to spend or save will be as individual as the person making the choice.
2007-10-15 16:10:29 · answer #5 · answered by Critter 6 · 0⤊ 0⤋
If the parents have done their job and raised independent, self-supporting children, then they shouldn't deprive themselves of a happy retirement just to leave something to their kids.
If they've got the money, helping the kids out if and when they need it, like for a down payment on a house would be nice, but not expected.
Kids who are looking forward to their big inheritance have gotten the wrong message somewhere along the way. They need to support themselves and plan for their own futures when they are adults, not be waiting for the old folks to kick the bucket and leave them something.
2007-10-15 04:11:08 · answer #6 · answered by tacka.... 3 · 0⤊ 0⤋
Absolutely!
It's their money, they can't take it with them.
I believe that in cases where the children plan their future on their family legacy, they end up poor in the long run. Even when they were given a substantial inheritance.
My parents gave their children (me) a boost several times, & they are still alive. If they pass away without a dime in the bank, I will be satisfied as long as they had a good life to the very end.
The same goes for my son. We have helped him & his wife in many ways so far. When we are gone, I hope we "boosted" him enough in our lifetime that he learned how to fend for himself by the time we leave this earth.
2007-10-15 04:16:17 · answer #7 · answered by No More 7 · 0⤊ 0⤋
They should, and I am spending it!! I paid for my kids to attend college, and gave them that boost. I started my life as a high school drop out and built a large business that I sold. That money is mine to do with as I please, not my kids. I'm giving to charities I believe in. I sneak a couple of cases of beer to the veterans home every week. Kids are spoiled enough, they can give their parents the last years of their lives enjoying what they worked to get.
2007-10-15 04:16:56 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I say yes...spend away. Our parents worked very hard for what they have. Most of the time with no inheritance from their parents. They should enjoy themselves and enjoy all their hard work. I'm in my 40's and do pretty good...There was no "boost" needed. Sure, would it have been nice? Yes it would have been. But not at the expense of my parents and all their hard work.
Tj
2007-10-15 04:10:33 · answer #9 · answered by tjusa2000 3 · 0⤊ 0⤋
Why do the kids deserve it?
An inheritance is a gift. If you don't get one, it's no reason to be bitter. And anyway, the kids are the ones that get to continue living, right?
I bet if the parents had the choice between money or life they'd choose to continue living, so let them have the money and do whatever they want, while they can.
2007-10-15 04:10:07 · answer #10 · answered by artteacher57 2 · 0⤊ 0⤋
Elderly parents should do exactly what they want to do with their money, with no interference or influence from their kids or anyone else. Generally, they do decide to keep portions (large or small) of their capital for their kids, grandkids etc. They have earned the right to make their own decisions.
2007-10-15 04:09:31 · answer #11 · answered by basport_2000 5 · 3⤊ 0⤋