Spend it.....or give it to the kids?

  anskyber 17:28 30 Jan 2008
Locked

This article suggests that giving kids too much money/inheritance is not necessarily good for them or even good for society in the housing market. click here

Are you spending or saving for your kids? I would be interested to know if the stereotype of people from different age groups is correct.

Finally I know the Government inheritance tax is a pain but in this exercise handing it over to the local cats home or perhaps orphanage may attract you.

  Forum Editor 17:34 30 Jan 2008

our children said 'don't worry about us - we'll be fine - have a good time and enjoy life.'

So we will.

  DANZIG 17:45 30 Jan 2008

Thankfully I haven't got nor intend to have any kids so that'll be one less thing for me to worry about!

  ulrich 17:56 30 Jan 2008

My poor son won't get anything from me as I am not so fortunate. But where does the money go to, the Government?

  GANDALF <|:-)> 18:03 30 Jan 2008

If, with the parent's guidance, their children have not established themselves by the time the Grim Reaper arrives, then they have failed in bringing up that child or children. I have seen too many old people scrimping and saving when they should be enjoying their hard earned, just so their feckless progeny can have an 'inheritance'.

Myself and my sister told our parents to spend like there was no tomorrow and leave naff all, esp. to the Goverment and they are doing so with some gusto.

As far as I am aware, shrouds do not have pockets.

G

  oresome 18:49 30 Jan 2008

The difficulty is getting the timing right.

I'd like to die having spent it all, but wouldn't like to live without it.

  Totally-braindead 19:02 30 Jan 2008

Very true oresome it is a bit of a balancing act.

I'm not exactly well off due to some problems I have had but me my brother and my sister have all said we want and expect nothing and have told our parents if they have anything we want them to spend it on themselves.

Thinking about it its probably just as well as there won't be much anyway :)

The main reason I don't want anything is I have seen far too many families virtually at war when someone dies leaving money or whatever. Even if theres a will this makes no difference with some people, they still seem to think they have been hard done by and that they should have more. In some cases perhaps they might have a point. With the end result you get brothers and sisters not speaking to each other for many years.
Don't want that to happen to me. Better poorer with a family than better off with no one.
Thats my opinion anyway.

  newman35 19:07 30 Jan 2008

Absolutely correct, timing is everything.
Sorry, but Gandalf's '..if they have not established themselves...' is rubbish. There are a thousand reasons why one's offspring might need financial assistance (through no fault of their own)and better they get it than G.Brown &Co Ltd.
Every child surely says 'spend it all yourself' to their parents, while secretly hoping there might be a little bit coming their way!!

  laurie53 19:55 30 Jan 2008

I make no bones about it - I'm a "ski-er" (Spend the Kid's Inheritance).

  Bingalau 20:10 30 Jan 2008

I've been saving for "A Rainy Day" for yonks, trouble is you don't know when it has arrived.

  oresome 20:12 30 Jan 2008

My earlier comment reminded me of a joke on The Two Ronnies I heard the other night.

Corbett related that his father who was in his eighties had married an eighteen year old blonde beauty the previous Saturday. Unfortunately he died and was buried the following Wednesday...............It would have been earlier but it took them two days to wipe the smile off his face!

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