Generation skipping with inheritance is actually a good idea.
If you hope to live till 80, what good does your money do for your 58 year old child? Very little, they are nearing retirement themselves.
It’s numbers in a bank account. But for your 30 year old grandchild it can be a huge boost that lets them start a business or something life changing.
Along with her brother’s family, we asked my wife’s parents to skip us and allow the grandkids to inherit. That money will do more for them early in their life.
You and your family are good and wise. But from the way many adult children fight and have fallings out over parents' estates, I think you overestimate how many people actually have retirement plans.
Generation skipping with inheritance is actually a good idea.
If you hope to live till 80, what good does your money do for your 58 year old child? Very little, they are nearing retirement themselves. It’s numbers in a bank account. But for your 30 year old grandchild it can be a huge boost that lets them start a business or something life changing.
Along with her brother’s family, we asked my wife’s parents to skip us and allow the grandkids to inherit. That money will do more for them early in their life.
You and your family are good and wise. But from the way many adult children fight and have fallings out over parents' estates, I think you overestimate how many people actually have retirement plans.
For stuff like that, put it in a trust where there are conditions to be met, or the fund tends to be squandered.
How much is Soy Dad really going to make of himself by 58? He's counting on that inheritance
Way to lead by example, pede.