Talked to guy who told me inheritance would pay for his 5 kids' college/missions

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Sep 28, 2016
10:46:37am

ForzaPuma 3rd String

Talked to guy who told me inheritance would pay for his 5 kids' college/missions

And as a result, he wasn't saving any money towards his kids' college/missions.

It struck me as very irresponsible to plan on something totally outside your control to fund something that you think is very important (and he sees both as very important).

Although maybe he thinks that college will all be "free" by then...

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ForzaPuma

Previous username: chaden02
Bio page: ForzaPuma
Joined: Feb 11, 2011
Last login: May 7, 2024
Total posts: 4,724 (72 FO)

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Messages

Author

Time

POLL: Do you expect to receive an inheritance from your parents?

kccougar All-American

9/28/16 9:43am

My approach to finances is to only count on what I can produce myself.

Mister P

9/28/16 9:47am

Inheritance, under some theories, will become crucial to future generations.

Baron

9/28/16 9:48am

True. Already got the kids Roth IRA going for that

cougfanz

9/28/16 9:55am

Roth IRAs are supposed to be earned income. Are they working already?

DK-

9/28/16 11:16am

yea, i'm an independent contractor so get some earned income, plus some from FIL

cougfanz

9/28/16 4:26pm

But wealth/money is not a finite resource. It can be spread around and America

TheLoneCougar

9/28/16 9:59am

Don't worry about that at all. Hilary's new 65% estate tax will take care of it

DK-

9/28/16 11:03am

Between my parents and my wife's parents we may end up with around 30K if we are

cougaman

9/28/16 9:54am

Yeah, big families + tithing = no dice

cougfanz

9/28/16 9:56am

On the contrary, I expect to be hounded by creditors.

Slim

9/28/16 9:56am

Haha, me too. Trying to ensure I didn't "sign" anything associated with them and

cougfanz

9/28/16 9:58am

Me too

mobius

9/28/16 10:01am

Luckily my step dad left my mom or this would be the case with us. Man was he

cougaman

9/28/16 10:06am

I think I expect based on their wealth, but I won't make or break me financially

TheLoneCougar

9/28/16 9:57am

So if they left it all to your other siblings and gave you nothing, no problem?

AFCougK9

9/28/16 10:07am

Honestly I don't think so, but I haven't been in that situation.

TheLoneCougar

9/28/16 10:20am

BlueFrog is already living off of his wife's inheritance, while we

9/28/16 9:58am

We'll likely inherit a 1/5 share of 2 meh houses. Both of our parents have been

Pimpin4Paradise

9/28/16 9:59am

Ahahahahahahahahahahahahaha

SandYFan

9/28/16 10:03am

I grew up below poverty with parents in blue collar job and neither finished HS. Grateful not to

soupie

9/28/16 10:04am

I think it depends on the health of my parents in their later years

LaserCoug

9/28/16 10:07am

My parents seem obsessed with leaving something for us kids

Jersey hunter

9/28/16 10:08am

To my point below, I wonder if they would enjoy giving while they're alive...

CougaReb

9/28/16 10:14am

I plan on living within my means and spending the last $ I have on my burial

LaserCoug

9/28/16 10:15am

I have 8 siblings and my parents keep refinancing their home/vehicles

CougarHut

9/28/16 10:10am

One challenge with longer life spans is that inheritances are now coming...

CougaReb

9/28/16 10:12am

That's in an interesting observation

9/28/16 10:17am

My parents have started doing some of those things. Not significant amounts of

TheLoneCougar

9/28/16 10:24am

I rarely think about it, but I'll get a little.

Belboz

9/28/16 10:19am

<< Deleted >>

UCLACoug

9/28/16 10:22am

I can't imagine working so hard to be dirty to get free money.

Belboz

9/28/16 10:37am

Wow, sorry to hear that...

TheLoneCougar

9/28/16 10:40am

Inheritance is weird

boyblue

9/28/16 10:22am

A guy in my ward told his dad, "I hope the last check you write before you die bounces."

kccougar

9/28/16 10:25am

This is what my dad told us in a family meeting after he retired.

WhiteKnight

9/28/16 10:47am

Expect? No. Hope for? Yes. But I'm hoping it will be a looooong time away

9/28/16 10:32am

Talked to guy who told me inheritance would pay for his 5 kids' college/missions

ForzaPuma

9/28/16 10:46am

I might get an old lawnmower or something.

Galileo5

9/28/16 10:53am

My parents are still living, but they already gave me my inheritance

Yurdue

9/28/16 11:01am

I've gotta convince my siblings to accept tokens and trinkets in lieu of cash

9/28/16 11:08am

Yes, but with 7 sibs and most in worse shape than me, I don't expect much.

9/28/16 11:06am

My parents died young and then my last surviving grandparent died later at

OremDad

9/28/16 11:53am

That's really poignant.

9/28/16 11:58am

RE: My parents died young and then my last surviving grandparent died later at

hadmonster

9/28/16 4:10pm

I expect to receive phone calls

TheDeek

9/28/16 12:00pm

Yes

Rakoto2009

9/28/16 2:57pm

No. I expect I'll have to clean up a bunch of debt/bills. Should be fun.

Triznaynay

9/28/16 3:01pm

Why would you have to pay for someone else's debts?

Conan

9/28/16 3:07pm

Because Citi-Bank doesn't believe in the 2nd Article of Faith

TheDeek

9/28/16 11:30pm

Correct. They hope people are dumb enough to assume someone else's debt.

Conan

9/29/16 12:38am

I suppose the sale of the house will be divided.

byujacob

9/28/16 4:48pm

8 kids in the family. Big fat NOPE.

VACOUGFAN

9/29/16 5:49am

Sweet. We're getting Golden Corral?

LaserCoug

9/29/16 5:52am

I said might. don't go spending that one before we get it.

VACOUGFAN

9/29/16 5:55am

I thought they were more ponderosa people

LaserCoug

9/29/16 5:59am

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