Are we swinging the bat in the wrong direction?

Are we swinging the bat in the wrong direction?

We’re in a full swing transition from an earlier Elderly support structure to a now Adult Child support structure 🤦🏼‍♂🤷🏼‍♂ (financial or otherwise)

Saying NO to large gifts from parents (as long as they are alive) is a rarity I come across these days…. Yes, this is really a hard fact / truth to hear or digest 😌

Yes, receiving an Inheritance is absolutely fine. The inheritor is a trustee recipient of the estate. The trustee recipient has the responsibility to ensure the protection & growth of the inheritance received & to be passed onto the next generation

Intergenerational Wealth gets built this way

But, there are exceptions to this transfer of wealth. If the trustee recipient uses the estate for imparting quality education or treatment of complex medical issues & their maintenance, or any other outlier needs… there’s no trouble or problem with using the inheritance. End of the day, it’s for a better purpose today.

The issue comes in when the inheritance is used to fund unwanted lifestyles, addictions (including so called good addictions which drain the estate – like excess charity) or funding extravagance in the garb of a need. That’s a serious problem. Who bells the cat 🙄

It’s just not the financial Inheritance that needs to be passed onto the next gen, it’s the VALUES along with it that are more sacred, it’s the sensible financial decision making process to be inculcated that’s more sacred which should be passed down

If these aren’t combined with the estate inheritance…..trust me, No Amount of Inheritance given will survive beyond a time frame It’ll just be destruction of wealth all the way. It’s a financial catastrophe waiting to happen. Life isn’t going to be easy for the next gen that way.

Protect & Pass on the estate (exceptions aside)

Ensure Values & Sensibility is passed along

👆🏼 a couple of people who came back on this –

It’s now transitioned to supporting GrandChildren’s life styles & goals

Well, it’s going to end up not as Cost of Living Crisis for the children & grandchildren but more like a Living Crisis (survival)

Money doesn’t grow On tress, it needs to be grown from our side As fruit bearing trees