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Old 09-02-2016, 12:26 PM   #21
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This is my first exposure to the thread, which I've read through.

To me, you are approaching things in the right way with respect to your folks. You are aware of the situation, you are lightly planning around it, but you are not relying upon the inheritance. IMO, it would be shortsighted to completely ignore it under the circumstances you've described.

We have a high likelihood of inheriting 2 or 3 years of retirement spending in the next decade (MUCH different than your situation!), and have given some thought as to whether we will disclaim in favor of our sons. Nothing set, and we may not get an inheritance, but it is nice to think about the situation at leisure, rather than first examining it in the wake of parents' passing.

Good job on the consulting gig's growth!
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Old 09-07-2016, 06:00 AM   #22
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To me, you are approaching things in the right way with respect to your folks. You are aware of the situation, you are lightly planning around it, but you are not relying upon the inheritance. IMO, it would be shortsighted to completely ignore it under the circumstances you've described.
I appreciate that. It's the reason I named this thread, and my handle, as I did.

It does seem disingenuous to me to discount the impact of inheritance, to act as though it will not happen. My parents first discussed numbers with us in 1998, revealing bulk sums and their intentions. In 2011, they had me do a financial accounting of all their investments, listing account numbers, passwords and contact info. Then as mentioned, they started working with a fiduciary who now cc:s my sister and me on all financial statements.

I totally understand, and have understood for nearly 20 years, the importance of not "sitting back and waiting for inheritance." When it happens, it will happen. But to try to close my eyes and act as though that number will be zero when it does happen seems overly conservative, like projecting that all the assets you have invested in our (by definition) volatile stock market will be zero.
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Old 09-07-2016, 06:25 AM   #23
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I totally understand, and have understood for nearly 20 years, the importance of not "sitting back and waiting for inheritance." When it happens, it will happen. But to try to close my eyes and act as though that number will be zero when it does happen seems overly conservative, like projecting that all the assets you have invested in our (by definition) volatile stock market will be zero.
Two of my step-brothers (of three) heard their entire lives that they would be receiving a large inheritance from a wealthy aunt. Neither step-brother bothered to earn a living. When the aunt died, each of the two step-brothers received ZERO (the third got it all). Ouch.
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Old 09-07-2016, 08:25 AM   #24
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Old 09-07-2016, 09:12 AM   #25
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I disagree, surely you meant ...
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Old 09-07-2016, 10:32 AM   #26
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Congrats on making your business a success, OddGuy and finding a way to grow your business and spend time with your family. Congrats on the new addition to your family as well.
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Old 09-07-2016, 07:30 PM   #27
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I totally understand, and have understood for nearly 20 years, the importance of not "sitting back and waiting for inheritance." When it happens, it will happen. But to try to close my eyes and act as though that number will be zero when it does happen seems overly conservative, like projecting that all the assets you have invested in our (by definition) volatile stock market will be zero.
Yea it is still kinda better to have your own money But more importantly I pray my daughter will be somewhere by 45 and not wait for me to die.

I have about half of your old folks money without waiting for anybody to give to me (And I am not far from your age)
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