Lost my mom in 2014, she was only 51 (pancreatic cancer).
My mom left my brother and I about $80k for each of us (100k life insurance, and about 60k Roth split to both of us) plus ownership of her 1/2 paid off house (worth about 210k).
So bro and I each wound up with about 80k, 50k of debt, on a 100k asset owned 50% Each.
Mom never earned a high living, but she was a better than average saver, and cleverly frugal. Miss her every day, and (i thought about it) and would gladly give it back for a week to catch up with her and show her how our lives have grown.
I severely doubt anyone in my dad's family will have anything to pass on to anyone. But my Grandparents (mom's side) we may see some inheritance. They are in their early 80's, but they're feisty. And basically my Other parents, so I Hope they get the luxury of spending most of their money throughout their LONG lives. (i'd much rather enjoy their company, and help pay their way, rather than be cut short on time with them.... + have some higher digits in my retirement....).
I remember hearing recently, that (generally speaking) most people spend 85% of the time They'll EVER spend with their parents by Age 18. Thankfully (up until this covid) my grandparents had a weekly standing dinner at their house. And we were probably good for seeing them 40/52 weeks per year. (not including our holidays). Don't take that time for granted.... I miss my mom every day. And it has fueled my gratitude that I still have her parents.
When I inherited the money from my mom, I was about 28. I believe at the time the I used like 10k of the $50k to pay for wifes wedding ring, part of wedding, and maybe another 5k to finish up my school tuition. But at the time I think I already had about $25k saved up in my taxable account, so I was fortunate enough to just throw most of this on top of the pile. The big change, was this kickstarted my interest in renting! Since 2016, I have bought1 more rental. And love the passive income (it's like the lowest barrier to entry, small business, almost anyone driven enough, can establish).
My mom left my brother and I about $80k for each of us (100k life insurance, and about 60k Roth split to both of us) plus ownership of her 1/2 paid off house (worth about 210k).
So bro and I each wound up with about 80k, 50k of debt, on a 100k asset owned 50% Each.
Mom never earned a high living, but she was a better than average saver, and cleverly frugal. Miss her every day, and (i thought about it) and would gladly give it back for a week to catch up with her and show her how our lives have grown.
I severely doubt anyone in my dad's family will have anything to pass on to anyone. But my Grandparents (mom's side) we may see some inheritance. They are in their early 80's, but they're feisty. And basically my Other parents, so I Hope they get the luxury of spending most of their money throughout their LONG lives. (i'd much rather enjoy their company, and help pay their way, rather than be cut short on time with them.... + have some higher digits in my retirement....).
I remember hearing recently, that (generally speaking) most people spend 85% of the time They'll EVER spend with their parents by Age 18. Thankfully (up until this covid) my grandparents had a weekly standing dinner at their house. And we were probably good for seeing them 40/52 weeks per year. (not including our holidays). Don't take that time for granted.... I miss my mom every day. And it has fueled my gratitude that I still have her parents.
When I inherited the money from my mom, I was about 28. I believe at the time the I used like 10k of the $50k to pay for wifes wedding ring, part of wedding, and maybe another 5k to finish up my school tuition. But at the time I think I already had about $25k saved up in my taxable account, so I was fortunate enough to just throw most of this on top of the pile. The big change, was this kickstarted my interest in renting! Since 2016, I have bought1 more rental. And love the passive income (it's like the lowest barrier to entry, small business, almost anyone driven enough, can establish).
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