The hospitals and retirement facilities plan to absorb every cent left.

My father was extremely open about his plans to spend it all. My in laws as well. I did get a small inheritance once, a few thousand dollars from a great grandpa that went to me because the legal battle for it outlived my mom. I hope I get sentimental things from my grandparents because that's the remainder of my incoming inheritance

Lucky for me my parents were both "I didn't save anything for retirement, my kids will take care of me when I'm older"

man I feel that. It's like raising a teenager.

"don't do that, it'll infect your PC."

"don't buy from there your card info will be stolen."

"no, Biden isn't going to round us up into camps."

"now we have to call and get you a new debit card."

"please don't buy so much junk food....why? because you have diabetes."

my kids will take care of me when I'm older

with what?

I never really considered an inheritance an option. Seems so off-worldly to me, even though I am by no means from a poor family, just lower middle class.

I think the entire concept of inheritance is something more prominent in developing countries like US or India, where there isn’t a well-established safety nets already in place by the government itself.

Of course we have inheritances too, I know a few who got something, but most of it gets taxed away upon receiving or vanishes covering the deceased’s debts, so I’ve never heard anyone I know get anything other than maybe a weekend vacation in the city next over or maybe a small chunk of student debt away.

Then again I’m not very well-off, and I do know there are the upper class families that have a long standing generational wealth passing over to the new generations. I guess it really depends on the circles one’s in.

But I still think it’s not as common here, at least I’ve never considered it to be normal, and I’ve known well people from upper middle class too.

I’m all for the average retiree spending freely and enjoying what they earned. They spent a lifetime working; it’s their money. Inheritance issues create way too many family disputes.

not eveyone get inheritances. what we need is social safety nets and to collect taxes on wealth.

Jokes on you, i grew up poor and never had an expectation of shit.

What doesn't get spent on enjoying a retirement we will never get, will be claimed by medical bills from failing health. Generational wealth doesn't apply to us, and no one is coming to save you.

Damn, I wish my parents had an inheritance to waste.

Yeah... How entitled are you? Do you NEED your parents money to get by? I barely make enough to afford rent and yet I still don't ask my parents for shit. I love them will all my heart and they make good money.

But it's money they earned, they are not obligated to give it to their kids.

And for those of you who are about to tell me "that's not the point", yes it is the fucking point. Your material worth is based on what YOU do to make ends meet. Your parents already lived through what we're going through now.

Oh and also: I GUARANTEE 90% of you are going going to do the exact same thing when YOUR KIDS ask "Mom/Dad can you buy me a car".

Of course not! You can barely buy your own car, let alone buy one for your kids and then THEY are gonna post the exact same thing about you on the internet. Because YOU didn't save YOUR money. Instead you spent $50 a month on your monthly services like Hulu, Netflix, Crunchyroll, Disney+, also your Pandora, Spotify, Apple Music, and any other goods/services your spending your cash on.

You could, instead put that $50 a month and any extra money into your savings and by the time you retire, you would too would have money to spend. And if you raised your kids right, they would do the same thing instead of relying on OUR hard earned money.

So get the fuck off your high horse and start saving your money.

Oh this is me. Their house is packed and they keep buying more shit and going on international cruises. We’ll get nothing.

My father would endlessly yap about his retirement plan and 401k and all shit like that, as if the US Dollar is going to still be a currency in circulation in 2030.

Unless things go terribly wrong (and they might) my daughter stands to get a second house and a quarter of a million $

That and my parents will likely be alive longer than me anyway.

Inheritance is weird. My partner and I stand to inherit a good bit when the parents on either side pass. Both sides of the family had successful middle class careers saved and invested well. Even considering the siblings on both sides, we could inherit an amount around $1M from either side.

But it's weird in two ways. First, it's not something that can be counted on. On either side it could be completely eaten up by nursing home care and medical costs for our parents. So we're not planning our own retirement assuming a windfall from inheritance. Second, on either side, unless they're unlucky, at least one of the parents is likely to live into their late 80s or 90s. So we'll already be in our 60s or 70s.

In other words, while we stand to likely inherit a good chunk of change, it will come so late in life that we won't really need it. Unless our parents die younger than expected, we will already be well into a fully funded retirement by the time they pass.

I feel inheritance made a lot more sense in the past. A farmer or a craftsman would will their farm or business to their children. And that child would take over that business while the parent was still alive, but too old to work it anymore. The child got the business or farm, but in turn had to support the parent in their later years.

But now? You're basically just inheriting your parent's house and whatever is left over of their retirement accounts. And you're doing so at an age where it really doesn't necessarily help you. Sure, if you yourself are unable to retire, then that windfall will be a godsend. But considering how wealth reproduces through generations, if you're in a position to inherit substantial funds from your parents, odds are you probably have a pretty big nest egg yourself built up by then. The people who could really use an inheritance to fund their retirement are unlikely to have parents wealthy enough to give them one.

But yeah, this is why I support strong inheritance taxes. For most people who inherit anything substantial, by the time you actually inherit something, you don't really need it anymore.

Isn't that better anyway? Inheritance makes the world less fair, as children of rich parents will get a huge advantage. If that money is instead spent, it hopefully distributes over society again instead if staying in the rich families.

It's obviously not that black and white, getting some money is a great help to you get people. And obviously a parent will want to help their children, that's totally fair. But as a larger trend it doesn't seem like a bad thing to me.

Us child free Gen Xers on the other hand...