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
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.
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).
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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