Abby Connolly
Talking to family members about money can be a stressful situation, especially when it comes to talking about wills and inheritances.
One man recently upset his children after revealing to them that he and his wife don’t plan to leave them a bunch of money when they pass away and that they’d rather use their funds for themselves.
He and his wife are both in their mid-40s and have three children. They have two daughters, ages 20 and 17, and a son, who is 11. He and his wife work full-time jobs.
“We’ve both worked hard to get where we are in our careers, and thankfully, that means we’re able to provide a good life for our kids,” he explained.
“We aren’t rich, and we don’t live beyond our means, but combined, we make about 300K per year.”
Recently, they’ve been thinking a lot about how they’d like to live out the rest of their lives and what they plan to do with their finances.
If he and his wife both work super hard for another 25 years, then they’d end up with enough money for a decent retirement and a large sum to leave behind for their children when they pass away.
However, that’s not the kind of life they want to live.
“The thing is that we don’t want that for them or us,” he said.
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