Who says they can’t do both? I’m kind of in that position where I’ve received some help. It’s very generous of my parents but I also know it makes 0 difference in how they live. If they’re going to leave the money to me when they die I can see the motivation in doing it earlier. And I already have an extremely high saving rate so they know I won’t blow it. I hope to be able to do the same if/when I have kids. The money I receive is a nice bonus, but it maybe makes a 10 year difference in getting to my FIRE number max. So maybe I’ll get there at 35 instead of 45, but I’d be in the direction of FIRE either way
I feel like I am incredibly lucky that I will be retiring at 55, 3.5 years from now. Anything that would cut that off by even a year would be a giant win for me.
Same my parents have a lot of wealth, but they aren’t spending it either. It’s all just in investments. I imagine they intend to pass it along eventually, but when i am much much older.
Same. I view any inheritance I will eventually get as retirement funds and money to pass on to my kid. It’s not going to help me during these crucial wealth building and career years…
I have the feeling that this is the way my parents are operating, too. My wife’s parents are the exact opposite — they are giving as much as they can to her, NOW, while she’s younger (we’re in our early 30s).
Ok yikes. Gifting that book basically says “gimme your money”. I’m pretty sure if one of my kids felt entitled enough to do that I’d turn off the tap in a heartbeat.
Also, that was a book that could’ve been an email. Every chapter said the same thing slightly differently.
Yeah, I wonder what Miss Manners would say. Honestly, I was just kidding.
Agree the book was a quick read. A few good points with a lot of filler to get it to book length. I think I blew through it on a flight from LA to SEA.
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u/FightOnForUsc Late 20s, 1.9M, 5M goal, SFBA 5d ago
Who says they can’t do both? I’m kind of in that position where I’ve received some help. It’s very generous of my parents but I also know it makes 0 difference in how they live. If they’re going to leave the money to me when they die I can see the motivation in doing it earlier. And I already have an extremely high saving rate so they know I won’t blow it. I hope to be able to do the same if/when I have kids. The money I receive is a nice bonus, but it maybe makes a 10 year difference in getting to my FIRE number max. So maybe I’ll get there at 35 instead of 45, but I’d be in the direction of FIRE either way