I’ve seen this through my in-laws actions with early inheritance from non-immediate family when they were around 50. We are a few decades on now but for context let’s say £500k today, so a healthy sum to tidy up the small remaining mortgage, swap an aging car, fill up the ISAS, treat the kids, and cement the futures of your then teenage kids with healthy deposit deposits perhaps. Erm, no.
It started with a huge renovation to the main residence. 25% blown.
Not one, but two nearly new cars - £65k cash ✔️
A new bathroom next please. High spec. I want the best.
Private school for one of the 3 kids - yes let’s! Despite not giving the others a penny. But it’s mine and I’ll do as I please, thanks! Add to that cars bought and loans paid off, only to those they favour. For no valid reason. Meanwhile we will pay the lease on the car that you could’ve helped with.
Hang on, we surely need another property so
lets use most of the remainder to buy another place, 200 miles away, where we will need another mortgage to cover the rest, and then we’ll need to renovate it for years at great cost and time. Just when our first grandchild arrives.
20 years later they’ve inherited again from direct family and although helped a little with a car purchase, are simply blowing through wealth from family assets by spending it on cars and possessions. Not once throughout this COL crisis have they actually sat their son down and asked, are you ok, and can we help you, despite it being fairly obvious of our struggles.
This makes it so hard to be in their company as we feel that they are totally out of touch with our lives. Yet they have opinions on everything and sympathy for others but seemingly not us.
I’ve seen and heard meanness from my MIL in relation to gifting at Christmas. Setting low limits for spending and then turning up in a new coat and new boots worth hundreds that she’d spent on herself.
I think I’ve this sort of resentment starts, it amplifies and ends up building. They’ve damaged relations with their own kids through needless greed and failure to recognise the importance of protecting and growing familial wealth that could benefit so many more generations.
Awaits the “it’s their money their choice” brigade. Well, it stinks!
OP you have my sympathies.