“My legacy is drinking out of a straw from a coconut in the Caribbean!”
Inheritance is always a somewhat sensitive issue, but how would you feel if your children began to resent you for spending your own money?
Well, that's exactly what an anonymous person wrote for Mail Online, claiming they were becoming jealous of parents spending money during retirement rather than using it to help raise their children.
The authors explain that their parents spent a lot of money on vacations, traveling to such far-flung places as Thailand, New York, and Costa Rica.
However, the 34-year-old writer explained that they became “more dissatisfied” with each trip their parents took.
“It's not a pleasant thing to admit, but the fact is that their dream vacation is draining my inheritance,” they wrote.
They go on to explain the wider picture – we all know there's a cost of living crisis happening, and that the intergenerational wealth gap seems to be growing.
The author uses this to question who is right when it comes to family wealth.
“Who is selfish? We want them to save money so that one day we can have it? Or are they, so unscrupulously squandering it all on themselves?”
They went on to explain that their parents told them they would leave the rest of their savings to their two children, but the amount of travel they were now doing would surely eat up most of it.
“I'm 34 and still renting and barely making ends meet,” they wrote, adding that even if they managed to buy a property, their financial situation was unlikely to improve as “there's no way out (debt) doesn't help.”
They went on to ask how they would be able to provide for their children without financial help from their parents: “Does their desire to go on vacation outweigh their desire for me to be able to have and raise children?”
They concluded that, according to Moneyfarm, 70% of Millennials are dependent on inheritance.
However, not all parents appear to be spending their savings, with an estimated 60% saying they are careful with their money in order to leave some money behind, and 80% saying they would leave all their money to their children.
Image credits: Dennis van Zuijlekom/Flickr and Burst/Pexels
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#resent #parents #burning #money #inheritance
