You do you. My plan is to retire with enough money that I can take out what I need/want, without the principal going down. Based on a conservative ROI and corrected for higher than average inflation. I also plan on SSI not paying. Maybe my spending is a problem, but my planning is not.

And you can do all of that when you retire at 65.

Funny enough, me too.

To be fair human life expectancy continues to increase as time goes on so most likely most of us will live well past 65. However, there’s no reason you should seriously be worried about running out of money. If you are then that’s a personal problem and you need to reevaluate the current lifestyle you’re living and live below your means.

lmao. Thanks Dad 🙄

Millennials are about to receive the largest transfer of wealth in history. GenZ doesn’t even want to show up for a job interview and is already tired of “adulting”. Even if you split half your primary homes market value a few ways. They’ll get a good down payment or bump in their financials.

Spending isn’t a problem. You're living YOUR life. Posterity is an ideology from a time of the have and have not nobility.

I'm actually good with strict limits on inheritance. We don't really need oligarch families with massive wealth across generations and centuries in this country.

But human nature is to want to take care of your kids, so you need to allow for *some* inheritance. With some administrative difficulty you could allow X amount to go to the kids, but then reduce how much of that could be passed to grandkids, etc. The taxman would have to keep accurate records for 100+ years.

I get where you are coming from, but if you invested in educating your kids helping them through college relatively debt free, then the need to amass multiple vacation properties and a giant portfolio you don’t plan on liquidating in time I think goes against your intent. Air bnb is great, you can do that instead for your travels. You can pay for experiential things instead of amassing and needing income to maintain a lifestyle from peak earnings in the long term. This is a cultural thing we need to start taking a hard look at. I’ve seen some of my childhood peers who make a living managing their families property portfolio and there is a sadness to it.

IMO it depends on his definition of "some inheritance".

I'm guess none of you would be personally affected by what he suggests.