To think it’s selfish for parents to retire early when their kids are renting?

[Lesbeavinu]

Dh has decided he is going to retire at 59. He has a great government pension and private pension/savings. He earns a decent £50k a year (same as me) and we have no mortgage.

I said that dh should continue working for another year or 18 months and gift the money to dd for a flat deposit.

@Gondoliere Your dc didn’t ask you to pay for education. They might have preferred a house deposit as it now seems you don’t have much money left and they don’t earn much.

KimberleyClark · Today 18:21
Passed a motor home on the motorway. Had a big sticker on the back which said " Living the dream - spending the kids' inheritance". Selfish people.”

Why is that selfish? - apart from the fact that it’s clearly a joke?

We’re 65 and 60, about to retire in the next year or two. We’re downsizing so will give them each a chunk of money. They have made it absolutely clear to us that they love us, they’re successful, professional people who can make their own way and would far, far rather we kept the bulk of our funds to ensure a comfortable retirement and to cover possible care needs. No way on earth would either of us expect them to care for us. That’s not why you have kids.

Do you not think that adult children expecting their parents to limit their lives so that they can inherit the maximum is the absolute epitome of selfishness?

Our kids do.

(of course we’ll squirrel away every penny for them that we possibly can but they certainly don’t expect us to. They want us safe, warm, comfortable and cared for)

TizerorFizz · 05/06/2024 22:52
My DM has just died. I’m nearly 70. Waiting for parental inheritance was a long wait in my case. Plus it’s a small sum - went on care home fees. Give it while you “

Sorry for your loss 💐

Passed a motor home on the motorway. Had a big sticker on the back which said " Living the dream - spending the kids' inheritance". Selfish people.
LOL!!
This is what my parents have done. I'm nearly 60 and my mum and dad are having a blast! Why not? One parent had decades of bad health and is finally cancer free for now. They are making most of their life.
Fair play.

I had twenty odd years of really struggling when I was bring up my children. At one point we had the bailiffs coming round). When I finally get my pension I am going to live it large!!! ( Thankfully I have managed to get finances back on track)

@MrsSkylerWhite Thank you.

I was being sarcastic. I thought the OP would think it was selfish.

You’re absolutely right. I’ve helped my daughter in the past but she has now told me, she wants me to spend my money, be happy and make memories with her and not worry about leaving money behind. That’s what children should be thinking, I never begrudged a single penny my mum spent on herself! It seems to have become the norm now that children expect parents to live frugally and save their money for them!

We don’t intend to leave money behind! Who wants to pay all that IHT? Nothing wrong with giving it early.

Im amazed people haven’t heard of Ski- ing. Spending the Kids Inheritance. If retired folk have a motorhome! Wow. That’s pushed the boat out. Mostly on fuel costs!

Let him retire and u can work for the extra years if it bothers u so much.

Why? Do you really think parents should sacrifice all their own wishes and wants literally until the day they die?

No I don’t, I was being sarcastic thinking the OP would think they were selfish.

No I don’t, I was being sarcastic thinking the OP would think they were selfish.

Ah, I see - I didn't pick up on the sarcasm, sorry! 😄

I will help my children as much as I can; if I am well enough to work . To say we all had to save for a deposit is ridiculous. Our first deposit in 2000 was £3000. House was £59,000, 3 bed end terrace. Houses have gone up so much since then. It’s far from easy for 20-30 year olds now.