Will this disappoint my children?

Discussion in 'Philosophy' started by SlamDaddy, May 13, 2016.

  1. I am 52. I have a good-sized nest egg from a business I recently sold. In the six figures. Not a tremendous fortune but it would be adequate for me to live out the rest of my life if I just live a common life. No 2nd homes, no lavish cars, etc.

    However, I have 3 adult children in their 20's. I continue to work as a seasonal laborer. Today, I just realized that the only reason I am still working is because I don't want my children to think badly of me if they don't get a good chunk of money when I die.

    I am strongly considering retiring at the end of this year. I can swing it financially, easy. But if I do, my kids aren't going to get jack-shit if I live past 74. The kids are smart enough to make their own way in the world.

    Your thoughts?
     
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  2. I just realized how stupid that question was. How would anyone know if my children would be disappointed without knowing them? Praise Odin, I am fucked up tonight!
     
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  3. i thought retirement was the end goal? i personally wouldn't be disappointed if my dad was able to retire thats awesome
     
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  4. Don't worry about that. They should be happy for whatever you give them and cherish the memories with you. Fuck it man downgrade get a big yard. Get legal and grow a lot. Make concentrates, edibles, etc. Have fun with life now. You have earned it.

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  5. If your children are saddened by the lack of inheritance in spite of you living out your life happy then that would be disappointing.

    Id like to believe your children would be very happy to see you happy. Whatever it may be that makes you so.
     
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  6. Store your treasures in heaven not earth. You'll get a better seat @ the table lol
     
  7. Life insurance policy. CD 10 k each put it into a 30 year. That's probably good enough. Find a trust with good interest. Play stocks or purchase real estate. By this point I would say focus on something that's going to mature well and will take a couple of decades. That's of course from someone who has no professional experience and only understands finance as well as the next guy.

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  8. Life insurance is not a bad way to go, but you are going to want to get that policy in place ASAP so your premiums are not crazy high.

    Having a will is much more important than having any sort of inheritance. Will or not, they will scavenge your financial remains like hungry wolves.
     
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  9. A good parent-child relationship will never...ever be "disappointed" by dad or mom not leaving cash behind. Kids above the age of early teens who think that way, went wrong somewhere in their development as human beings.

    My parents are blue collar and always have been. I'm by no means rich and they are still in good and active health, but I've openly told them to never think about leaving any sort of inheritance behind. I want them to use whatever they have and create as nice of a life as they can for themselves. I know that, were I starving and broke, they would give their shirts off their backs to help me. That knowledge is more than enough for me. I want them to live it up in their last decade(s).
     
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  10. I think it's great if one generation can pass wealth (even modest wealth) to their offspring. That said, it shouldn't be expected of you or anyone else.

    If they are disappointed, maybe they are not worth leaving money to them.

    You worked for what you have, you literally exchanged your life/time to be compensated, what you do with that is your concern only.

    If you decide to be extra frugal to be able to pass some down, great! If you want to finally kick back and enjoy the fruit of your labor, more power to you!

    Lose Your Fear and Free Your Soul or The Mysteries Of Life You'll Truly Never Know
     
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  11. Your children don't need your money. Live as you please.
     
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  12. It
    it's gross how people slobber over money when someone dies like its lotto or something. You worked for it enjoy it. Spend it Invite them on cool vacation. If they have sense to make their own way in life then memories would be worth More than money Lol my kids are just hoping they don't get my debt when I kick off. If u are still stumped send a check to jheez so I can be a farmer and not have to yes sir anyone ever again. Lol
     
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  13. A lump sum of money at the end of your life doesn't equate to the success you leave behind as legacy. Make sure your kids know you love them so they don't regret your involvement in your time spent together.
     
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  14. You could always try starting a new business that is tailored to their interests/careers. Something that'll make money for you to live until you don't.. and then they can take over. Set it up so that they are all equal in terms of ownership and if one wants to bail down the road, their cut gets split evenly among the other two. That way you don't just leave them money that they'll probably just blow through.
     
  15. #lifegoals
     
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  16. I'd meditate on it.

    I'm 18, this is so off my radar bro
     
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  17. I am in the exact situation. I've been telling my children lately that I would rather have fun with them than leave them a lot of money for them to enjoy while I am dead. I am planning on taking some trips and taking my kids and my grandkids. I am 10 years older than you though. I also have a good income and I have no need to use my savings to live on though.
    Talk to your kids and tell them you would like to retire and not spend what time you have left on earth spending your days at work.
     
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  18. i hate this question, i hope they laugh, and i hope you laugh with them

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  19. I'm 25.
    My parents are nearing retirement age. And I like to think that they will be able to retire happily.

    I'd say this : inheritance isn't a right; it's not something we are entitled to. Parents work hard to make a good life for themselves and their children. If they have something to leave behind, then those people should consider themselves to be lucky. Most people struggle just to make ends meet for the days they are alive. Let alone have something left for someone else once they die.

    I haven't lost any of my parents, and I like to think that no amount of money will make up for the lack of their being here. An inheritance sounds cool. Having my parents and real memories of them sounds cooler.

    Even cooler still, is the fact that we've got 50+ year olds in this community. I love this place.

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