do you worry about your mortgage/finances if you know you'll inherit?

[malkeot]

Of course anything could happen etc etc but if you’re largely sure you’ll have enough to pay off your mortgage and then some, are you more relaxed about finances? Would you be bothered about overpaying mortgage or just enjoy life, in the knowledge it will be paid eventually?

I think I used to when I was younger. Parents owned there own home and I knew I'd inherit. But as life has gone on I realise that was very naive of me. Anything can happen.

My mother however is definitely counting DGMs inheritance as her retirement plans which makes me feel a bit sick tbh

We will inherit from my in-laws. They are in a very good financial position, are very pragmatic about their old age and death and have made provision for care etc. I would never factor in inheritance to pay off our mortgage - I expect one of my in-laws, at least, to outlive me anyway - so I expect whatever we inherit will be passed down to my kids.

I am likely to inherit a low 6 figure sum from my remaining parent. DH is very likely to inherit substantial sums from a few different people due to a complex family set up. We don’t factor it into our plans at all and diligently overpay the mortgage each month.

We aren’t factoring it in at all. Very foolish to do so.

No. My mum was 27 when I was born. Her mother lived until late 90s. I’m hoping not to get a penny until I am well into my 70s.

No, I may inherit a six figure sum sometime in the next 20 years but it may well get eaten up in care home fees. It’s not mine to consider.

Absolutely never planned on receiving any inheritances and actively encouraged my parents to "spend the lot".

We value our independence as adults and pay our own way. We are nowhere near being rich, live in a modest home, but it was paid for entirely by ourselves and we are proud of that. We were bequeathed 3 very small inheritances - because I come from a large family once it is shared between 5 kids and some grandkids it isn't anywhere near life changing, but nice to know someone was thinking of us.

MIL left much much more but unknown to dh or his brothers until they saw the will she disinherited her kids out of spite because of a brief incident where they didn't put up with her ridiculous behaviour 5 years before she died, and although fences were fairly quickly mended she didn't change it back - dh is still tormented, not by the money, but by not knowing if she chose to leave it that way because that is how she felt or if she just didn't get around to it. One grandson out of 5 grandkids got the lot and fucked off with it and we haven't heard from him since, so I'm glad we never depended on that! 🤣🤣🤣. I predict we will hear from him in a few years when the money runs out and he has no means of supporting himself (he is/was a bit of a waster, nearly 30 had never worked a day in his life, into weed etc).

No, I find it a bit disgusting.

I aim to be self sufficient and any inheritance would be passed on to children. So I don't think about it.

My parents are wealthy but I see if as their wealth, they worked hard and should enjoy it and use as much as they wish to live comfortably. I'm making my own way in life.

Well a care home round here is currently £6k a week so imagine any potential inheritance will be spent if that arises. Particularly as there is no cap on fees so they will likely go up

A month not a week. But still a fortune!

We will most likely inherit. We don't bank on it and do all the finances as thought we wouldn't. I'd like to think if we do inherit from either side we'd like to be able to treat ourselves and the kids with it.

I expect to inherit.

I overpay my mortgage every month.

I live within MY means, not my expected inheritance means. By that I mean I live in a house i can afford now, not one I have stretched myself to buy because I expect money to pay it later.

The money doesnt really exist to me.

I'm an only child and my parents own a house that is worth more than ours but I'm not counting on getting anything due to inevitable care home fees for either one of my parents. We don't factor it into our financial plans apart from knowing that if by some miracle I do inherit it/the money from its sale then we will be able to upsize but we are perfectly happy where we live and the size of our current house plus due to pay mortgage off in 5 years time anyway.
It would be reckless to bank on am inheritance.

DH and I overpaid on our mortgage from the beginning and it is now paid off. Thinking about anything that we might inherit from parents was not part of our planning.

My parents are boomers who first became property owners in the mid 1970s and now find themselves in a ridiculously over-valued (in their opinion) house in the South East. I hope they live long and happy lives and use their resources to pay for care and anything that makes their life more comfortable. They have put money into the DC savings accounts and have bought a few 'big' presents for them recently, which is lovely but not something I asked for.

My parents were in their 20s when they had me and both come from families where at least one parent lived to a very old age.

Both parent also inherited very little as the long lived parents used most of their estates for care.

I hope to also be a good age when I lose my parents, and I hope they use their estate to be as comfortable as possible if they need to as it's unlikely that either my sibling and I would be able to have them live with us.

DH will not inherit.

So absolutely not. I would never be so speculative as to include a possible inheritance in my future planning. I guess if your parents' estate is absolutely enormous then you may feel more entitled to.

My adult children will not benefit greatly when we die - primarily because we have given them a not insignificant amount of money over the years for things like Uni costs, wedding costs, house deposits etc. I would much rather they have the benefit of any spare money we have whilst we are still alive to see them enjoy it!
Any parent sitting on a large sum of money whilst their children may be struggling to pay the heels could do with a good talking to if you ask me.

Heels? bills!

No I don’t factor it in at all!

I know of someone who took this attitude. Then one of their parents developed early onset Alzheimer’s and in their 50’s and needed care for many years. There ended up being very little money left.

If you have two parents in a nice care home @ £2k a week each, they will burn through £1m in 5 years.

I think you have to have extremely rich relatives to be sure enough there is an inheritance coming to the extent that it affects your finances

I stand to inherit enough to pay off my mortgage as at today's date and possibly more. Hopefully parents will not die soon, then there would be surplus. However, nothing is ever certain and they may (hopefully) spend it all enjoying themselves having lived longer than expected or they may end up paying through the nose for care or may just decide not to leave me anything. If I planned my own financial affairs based on someone else's I personally think that would be stupid. As such, I overpaid my mortgage until I moved home as the rates were low, building equity. I work my arse off in a highly paid job and do not live to my means paying large amounts into pension instead. I am actually terrified of struggling in old age and feel I can only really depend on myself

They are probably sitting around drafting their threads about how their bastard parents died and didn't leave them all the money they considered their due.

I'm the only living child of divorced parents, neither of whom have re-married and both of whom are very comfortable. I reasonably think I will inherit something but it doesn't make me reckless. I could cope very well without any money from them if it all went on care home fees (very possible as neither have a live in partner). However I know they want me to inherit some of the money they have saved because they often speak to me about it and tell me all the details of their finances.

I think it's distasteful to assume you'll inherit anything. My parent's money is theirs to spend as they see fit - plus the possibility of care home fees etc.

While I'd certainly hope to leave DS something I wouldn't want him to expect or count on it.