My kids will only ever own a property if their g/parents leave them massive amount

seven-day-weekend

Miss Bargainmad's children are going to find it a major hurdle to get enough money together to buy a property.

Welcome to the world!

It's like this for all young people, and what's the big deal? They are not going to die through not being able to buy a house!

It's only in the UK where people think it's important.

drowningnotwaving_2

Maybe your in-laws will leave all their money to a children's charity for children who really need help?

I find the whole idea of a perceived 'right' to an inheritance very uncomfortable. We have fertility problems but are still hoping to have kids, whereas my husband's sister doesn't have any and never will. However, I would never expect my in-laws to give us more money than they gave them. You have the joy of two kids in your life, which is a joy your brother and his wife will never have.

Be grateful and stop counting the pennies. Your children should be standing on their own two feet not waiting for their grandparents to die so they can cash in and buy a house.

DNW

Generali

wnb wrote: »

I have read your otherpost aswell, i'm surprised that you think this if you are actually one of the top 10% earners. I have children and while i'll enjoy my life and childrens while i'm alive i'll do my best to dodge any inheritance tax that my estate will be stung for.

Do you have any children? What will you do with your estate if you die? you could still give it to the tax man and if you do believe that it should be 100% inherintance tax then are you planning on giving your estate to the tax man?

I have 2 kids and while inheritance is still there I'll do me best to pass on what I can to my kids. I would just rather not see it at all.

It's one of many reasons I'm not a politician - despite being right a staggering proportion of the time, very few people seem to agree with me!

sortofok

A good education and/or a good work ethic was once the only route to financial security available to the working classes.

Today, it seems that people see property as their only route to riches.

And they will seek to acquire it through any means.

I find this situation very sad my friends.

Tiger_greeneyes

Aside from greediness, what are the OP's children going to learn from the lesson of being given everything on a plate? How is this going to help them out in life? If they have no idea of the value of money, what's to say they won't run up huge debts and possibly lose it all anyway? Most people get into debt at some point, will the OP pay that off for them, too?

Years ago I went out with someone who's parents used to drive down from Perth in Scotland to SE London to clean his flat twice a year because everything had always been done for him and he had no idea/was lazy. They even drove down to decorate it for him, too. It broke my heart to see how much he relied on his parents - he was in his in his late 20's - and I thought he took the complete p***, tbh. He used to go out and leave them to get on with it, and never gave anything back.

I was brought up by my father who was in a wheelchair, and I had a younger brother. My dad couldn't work and I was his main carer. I learned lessons the hard way sometimes - I got into debt at 19 - I wanted some nice clothes because we'd mainly lived off clothes from charities and rarely had anything new (£1,300 in the mid-80's was alot!) I managed to sort it out within three years and haven't been in debt since. My dad drummed money management into me and it paid off - I bought my first flat when I was 26 and paid off my current mortgage at 37 (I moved alot and had a bigger and bigger deposit every time).

I know some parents want to give their children everything they want, or everything the parents never had as a child, but why? Peer pressure? Guilt? Image? I always say that we're all just one major trauma away from losing everything. If the child has designer clothes, the latest toys and gadgets and money for whatever they want, how much will the child resent the parents if the money dries up for whatever reason and they can't have the latest trainers, designer outfit or a new mobile phone to keep up with their mates?

Shouldn't children be brought up to stand on their own two feet so they can make informed decisions when they need to, and become rounded adults as a result? Where are their morals going to come from if the parents are so materialistic? How will material things alone give the children a happy and balanced adulthood when they're out on their own in the big wide world?

I really don't get it, and don't think I ever will. Quite simply, when I see children being given the earth, I worry for their future.

Loobysaver

I haven't read all this thread but going back to the original poster. She should count her lucky stars that she is in such a good position. Oh to be mortgage free in 2 years!

I have 2 children who are 9 and 5. We are mortgaged until we are about 55. My parents live in a council house and have no savings. My in-laws are mortgage free but live in a modest terrace house.

It hasn't even crossed my mind to expect my children to get given money. What happened to having a sense of pride on working hard to own nice things? My parents haven't helped me out and I would never expect them too. My children will have to work hard to get a house. They have got a savings policy which will pay a modest sum for driving lessons or maybe uni but that's it.

I think the OP should have a long hard look at her thread and be ashamed.

Running_Horse

Was this really three years ago? Maybe the oldies snuffed it.

PasturesNew

You should have married the other brother... poor choice.

Maybe by now she's realised this and run off with him.

guy0wen

your kids will have to do what i and 95% of the british population do, work your guts out and save hard if you want to buy, or alternativly rent somewhere equally decent but never build up any equity.

Its tough and people can afford less and less as prices rise faster than income, but its the same for everyone.

Peoples expectaions must reduce as well. My father bought a 4 bed detached when he was 26 in a great area and paid his mortgage off before he was 40. I am on the equivilant wage to him at his age then (im 26 now) and had to settle for a 2 bed semi in a much worse area and i have a 30 year mortage hammering me every month.

As the population grows so does demand and therefore prices rise. But there will always be decent houses for decent ward working people IMO.

ILW

miss_bargainmad wrote: »

Rimo and Silvercar

I totally agree with you. I would love to see them have a fantastic lifestyle, go on wonderful holidays and spend every penny but they never have and they never will.

For some reason they have spent all their lives saving and not living, which is really sad. They go on one holiday a year and spend very little on that and cannot be encouraged to go for even a day out.

They live a very simple life, always have done and always will. When my husband was growing up he had nothing as they were always saving.

They are Irish and old Irish people want to die with a load of money in the bank for some reason.

My husband and I have both said we could never live the way his parents do and can't understand for people who have so much money.

So they have saves all their lives whilst you have spent all your lives and now you expect that you should be given a load of money so your children can be better off. Take responsibility for your own family rather than expecting relatives to die and sort you out.
EDIT: Just notices this is 4 years old. She has probably bumped them off by now.