If you received a large inheritance...

[ifiwereuidhatemetoo]

..and had teenage kids, would you ring fence a bit for their future..

OR would you say to hell to that and book an amazing holiday for yourself and buy a sports car?

My mum got a small inheritance and ringfenced a small amount of it for me and my sister (both adults and living away from home but both struggle financially). But I know she also isn't well off and needs to save for her own retirement, so I wouldn't have expected it.

A big inheritance, I probably would ringfence some for my kids, assuming they werent inheriting in their own right. How much depends on your own circumstances. I wouldn't want to blow it on holidays knowing my kids will likely struggle to pay for uni, rent, car, never mind a deposit for a house! But if you need the money to do home improvements and things that you otherwise couldn't afford then that's different

I would spend half and save half. Or spend 1/3, invest 1/3 and save 1/3. I would definitely save for the DC uni fees or similar.

I wouldn't buy a sports car.

But I would get our attic converted. Do up the living room (needs replacement wooden floor and new sofas; also maybe a woodburner)

And I would definitely book a holiday of a lifetime for all of us. Perhaps:

safari in Kenya
skiing in Canada (plus a bit of a road tour)
tour of Iceland including the Ice Cave and Northern Lights
Thailand culture & islands
Malaysia rainforest and Borneo (incl. orangutan sanctuary)
the Galapagos islands

and if travelling East, a 3 day stopover in Dubai to go to (allegedly) the world's best water parks.

hard slap to wake self up I don't think it'll be happening.....

I think it depends on the amount, the age of your children, your general financial situation etc. I personally hate the idea of 'wasting' someone else's hard earned money, so I wouldn't piss it up the wall but I would use some of it for fun.

My mum inherited from her parents when my DSis and I were in our late twenties. It was split four ways between us all. DM & DDad were already comfortable so they are spending it on some rather amazing holidays, being more comfortable and buying my DSis's old house when she couldn't sell and renting it out. They have also started trusts now for the grandchildren.

I used my share as a sizeable deposit on our first house plus some spare to do bathroom etc. It meant that we could use the money we had already saved to go travelling and have a fantastic time before having DCs.

Obviously the above depends on it being a massive amount!

Also happy with a trip to the cinema and dinner at Frankie & Bennies!