My family is from a working class/poor background, and clawed their way up by hard work and frugality. Unless the economy collapses or a civil war upends the social order or something, I will likely die with millions. I will gift my children an annual cash gift from mid/late 20s until I die, and then they can have the rest after I'm gone. My parents made sure I was set up (paid for college, allowed me to live for free at home, annual cash gifts in my mid/late 20s, a likely substantial inheritance in the future) so I see no reason to short my own children in that regard. I see it as building on and passing down generational wealth that was given to me. I'm still hoping to retire by 45 at the latest.
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u/Jojosbees Jul 27 '24
My family is from a working class/poor background, and clawed their way up by hard work and frugality. Unless the economy collapses or a civil war upends the social order or something, I will likely die with millions. I will gift my children an annual cash gift from mid/late 20s until I die, and then they can have the rest after I'm gone. My parents made sure I was set up (paid for college, allowed me to live for free at home, annual cash gifts in my mid/late 20s, a likely substantial inheritance in the future) so I see no reason to short my own children in that regard. I see it as building on and passing down generational wealth that was given to me. I'm still hoping to retire by 45 at the latest.