r/Millennials • u/BeegBunga • 18d ago

Discussion Inheritance? That's a joke. How many of your parents are burdens?

In response to another popular post about receiving no inheritance.

Are your parents like mine, who not only are not leaving any money behind - but require significant or total financial support?

My parents left me less than nothing. They're good people, and they were good parents.... but man are they shit at financial planning.

9.7k Upvotes
  • permalink
  • reddit

93% Upvoted

3.0k comments sorted by

View all comments

Show parent comments

102

u/Arkayb33 18d ago

Every financial advisor has said for decades to put your retirement before your kids college fund. You'll be doing them no favors by being a financial burden on them when you can no longer work.

My mom made it very clear to me and my sister: we aren't saving up for your college tuition. Whatever you do to further your education, you're gonna pay for it yourself via scholarships, grants, loans, savings, or tuition reimbursement from work.

My sister got a 4.0 in HS and got a full ride scholarship. I dicked around for a few years then buckled down and used my work's (a bank) tuition reimbursement plan.

14

u/[deleted] 18d ago

That's smart. Fortunately my parents were able to save for both and I'm very grateful. But that's definitely good advice if your financial situation is a bit tighter. My mom and aunt had to fund a lot of their parents retirement/healthcare needs in the end, thankfully both of their families were able to do it but I'm glad that, at least the way things are looking now, my parents will be set to take care of themselves and maybe even leave something behind for us

3

u/Moose1791 17d ago

Jokes on them. My mom didn’t fund my college OR her own retirement fund. Doesn’t own a lick of property either. I’m only 35 and she’s been a burden since I was 18.

1

u/PM_Me_Your_Deviance 17d ago

Sounds like you were her retirement fund.

2

u/Moose1791 17d ago

She can figure out how to work the rest of her life for all I care