Did inheritance in middle age change your life?

[dragonsbbq]

We may or may not inherit in the future depending on circumstances, it could be very little or a substantial amount. I wonder how it would change things for us if we did inherit as we have already had to work hard to get on the housing ladder and our DC are nearly finished school. I think it might have made a bigger difference to inherit at a younger age. Has anyone inherited a substantial amount and how did it change things for you?

The chances are I'll be dead within 5 years so, for now, it's staying where it is so at least the funeral will be paid for.

I'm guessing you're more into tennis than cigarettes and alcohol? Nice story.

Dh and his brothers inherited from his dad when we're in our 40s, it wasnt huge amounts. It genuinely saved us. We were massively in debt and thought we could lose the house. We paid the debts off, we could go on holidays again, buy much needed replacements for appliances.

We inherited a decent amount a couple of years ago. It will helppay my DGD R&B at college and help fix up the house, pay for our funerals. I wasted two other inheritances, so being much wiser this time.

Allowed us to separate in our late 50s and buy two properties. About £350k. It was his inheritance but we agreed I would take more equity from our house to have enough to house our adult DC.
I do feel that the inheritance was his so once I can retire and downsize I will be passing a large chunk straight to our DC so they can buy housing. They will be 27-30 at that point so will need it more than me.
Also stand to inherit on my side and that will also go to DC.

Imminent inheritance £140k. Mid 50's partner 70. Already lived in deceased parents mortgage free house so I intend to repay credit card, add to existing ISA and take out a couple of bonds, top up my rubbish pension, buy a vehicle and repay partner what I have borrowed. As well as do up the house a little, flooring, blinds, decorate, etc. But the main take will be savings as I know how very important this is.

I inherited a substantial amount at 55. Life changing in that I lost my beloved mum in a horrible way but financially I just feel fortunate to be secure for life and to be able to help my adult children out and give generously to charity.

Ive been single for over 6 years and despite a good salary it’s become more difficult to make the most of this and now I can.

I inherited a little from 2 different aunties when I was 50. I bought new double glazing for house and new doors. It paid for a nice family holiday and I gave the rest between 3 DC. My Mum died 8 months later and I put some of my inheritance down on mortgage for a 3 bedroom house. I've let this house out and there is only £38k left on mortgage. The house has doubled in value over 13 years. I will repay mortgage over next 2-3 years and then it be put in trust for my 2 DGC. By the time they grow up the rental income will go into trust so they will have a nice nest egg. When youngest is 25 they can choose to either continue to rent it out and share income from it or sell it to give themselves a nice deposit on their first house. My DC will inherit other property from me.

My granddad inherited from his childless brother when they were in their late 70s many years ago. My grandparents chose to give an equal sum to all the nieces and nephews who were spread over the world but still in close contact (there's at least 20).

They used the remainder to update their home which made life easier for them as they were getting frail by then. Then went to Australia to visit another brother for the English winter which did wonders for their aches and pains. They were both dead within 2 years and I'm so glad it made them a bit more comfortable latterly.
They were such a kind and generous couple and shared whatever they had despite having very little for most of their marriage.

I was early 30s when my grandparents left everything to myself and sibling, only grandchildren ( property in london ) so we were both mortgage free immediately .
Incredibly lucky .
Will inherit significantly from my parents assuming no care home etc and will be passed to next generation again as we are both still relatively comfortable in our 40s and no real need for it .

Yes. In my 50s inherited £60K and paid off my debts. Had been absolutely broke before. It changed my life and I think kindly of the relative who left me the money every day.

Yes - my parents have gifted us money which paid off our mortgage and also paid the kid’s school fees. They also gifted us a holiday home and a commercial property.
It has fundamentally changed our lives as my DH stopped having to drive over 1.5 hours each way to work and we now just run our business.
Also - they did this while they are still alive because they wanted to see us enjoy it.
Whatever is left once they die (could be lots or r not depending on mum’s care needs in the future) will go to the kids for their future.

My parents (still alive) gave me a substantial sum when I was around 40, in lieu of inheritance later on. Mortgage was paid off, so it's mostly gone into savings, investments etc. but the life-changing bit is that now I don't feel like I have to put everything possible into savings (I'm naturally frugal and a saver), and can justify lots of nice things with the kids that I might not otherwise do.

Similar here. Parents have been able to gift substantial sums through my 30s and 40s which has meant we’ve been able to invest in pensions, ISAs and overpaying our mortgage so we’re pretty much at financial freedom at nearly 50. We are incredibly fortunate and grateful. Edited to add… if there is any further inheritance later, we’ll probably do a variation to direct it to our kids, who will likely be more in need than us.

I think it will become more common as the boomers are starting to die off and leave very valuable house equityand assetts to the next generation or their grandkids, especially in the SE.

My wife died suddenly in 2020 (DVT) - some of you lovely people made a woolly hugs blanket which I use in winter 💚 - and, whilst I don't want to mention numbers, I now work three mornings a week.

The house is nearly paid off and it's just because savings interest is more than my mortgage (council tax is my biggest bill). I vacillate between just paying it for peace of mind (it's less than 10k) and wondering if I should leave it. Beyond that, I travel pretty much as I feel (main concern is my nearly 15 year old Border) and don't stress if something needs replacing/breaks/the roof falls in.

Mostly, life is peaceful and I'm happy gardening, reading, walks, etc. There's value in a low key life after all the drama with TRAs/being sued and all the insanity that some know about.

I am not wealthy, more comfortable I'd say (and it's why I really don't want a f/t job that detracts away from various interests) and know that I've a certain level of income for life irrespective of anything I do in addition.

It's a rather odd situation to be in in my 40's. In these sorts of cases I say that we're certainly unlucky in what happened but lucky that that money was available. Of course, there remains a degree of grief, but I did not die, there's Scrabble who needs looking after, and I have, I think, rebuilt something of value.

All good thoughts to those navigating these sorts of complexities 💛

@TheIdlerReturns I dont really understand your comment. My inlaws are alcoholics and mother in law smokes 40 a day. (She likes tennis aswel. When she bothers to get out of bed)
Its not a story??