The Next Generation-A Burning Question

QUINNSCOMMENTARY · Post by **QUINNSCOMMENTARY** » Mon Sep 01, 2008 7:33 pm

I have heard strong views on both sides of the following issue, I have strong views of my own, but I'd like to hear yours.

Consider the following:

Your children are grown and have children of their own, you are retired or soon to be retired and after a lifetime of work you have accumulated some assets, perhaps more than you need to live on for your basic necessities.

What is your goal: (1) enjoy the money and spend it so that when you are gone, so is the money, or (2) don't deprive yourself in your later years, but plan to leave as much of your wealth to your children and grandchildren as you can.

How do you see the answer to this conundrum? :-2

CARLA · Post by **CARLA** » Mon Sep 01, 2008 7:47 pm

This will work for me and if it doesn't I well spend what I have too and they get the rest. They are aware that I will leave what I can. I give to them now as they need it and why wait till I'm dead let them enjoy some of it.

[QUOTE](2) don't deprive yourself in your later years, but plan to leave as much of your wealth to your children and grandchildren as you can.[/QUOTE]

Nomad · Post by **Nomad** » Mon Sep 01, 2008 7:54 pm

I dont have children but if I did I think my goal would be to teach them to be self sufficient. If Ive done that Ive done my job.

shelbell · Post by **shelbell** » Mon Sep 01, 2008 9:26 pm

That's a tough one. I probably won't have any money anyway, but if I did, I would have some fun and do somethings I want to do, yet not go all out and save some for the kids and grand-kids. Don't tell my kids or grandkids I told you this.

Post by **Bryn Mawr** » Mon Sep 01, 2008 11:39 pm

(2)

The kids are grown up and already self sufficient.

The older grandkids are well on their way to being so.

I see no point in draining the coffers to the last drop and there will always be the assets like the house - they are welcome to it with our blessing :-4

guppy · Post by **guppy** » Tue Sep 02, 2008 4:45 pm

more importantly..after rasing your kids and workng hard all your life..are you going to spend quality time with the grandkids? very few people do anymore. :-2

QUINNSCOMMENTARY · Post by **QUINNSCOMMENTARY** » Wed Sep 03, 2008 4:46 am

guppy;970858 wrote: more importantly..after rasing your kids and workng hard all your life..are you going to spend quality time with the grandkids? very few people do anymore. :-2

Are you saying that after raising your own children, that's enough and it time to move on?

Why don't people spend time with their grandchildren?

CARLA · Post by **CARLA** » Wed Sep 03, 2008 7:08 am

Sometimes if physically impossible to spend all the time you want with your grandkids they live in other places, doesn't mean you don't love them and want to spend time with them. I'm very luck my granddaughter live less than a block from me.

[QUOTE]Why don't people spend time with their grandchildren?[/QUOTE]

flopstock · Post by **flopstock** » Wed Sep 03, 2008 7:41 am

I don't plan to leave anything to my kids. I have insurance that will go where ever my little-one is at. Not a lot, just enough to help until she is an adult.

Both of my older kids got scholarships and worked to get where they are today.. I helped when I could and even when I couldn't.

My 401k and pension... go crazy kids.. just try not to overtip the waitress..:sneaky::D

Accountable · Post by **Accountable** » Thu Sep 04, 2008 3:57 am

Spend it all as quickly and lavishly as possible, then when it's gone move in with those self-sufficient kids. It's important that they have the opportunity to show how much they appreciate the values you raised them with. :yh_angel