No next generation for which to build generational wealth

[Anonymous]

Late 40s typical white collar professionals, ~12MM current net worth, fairly modest lifestyle, mortgage paid off and no other debt, 4 elderly parents who not only don’t need us to take care of them financially but whose NW continues to grow as well, 1 kid (in college with a fully funded 529).

DD identifies as aromantic and asexual and doesn’t want kids - ever. Granted, she’s young, but I think she knows herself pretty well. If there’s not going to be a next generation past DD, is there any point in trying to build generational wealth?

[Anonymous]

Is there anything you care about? A cause? An organization? A school? Perhaps your daughter will grow into someone with a cause, or want to start a business.

Lots of reasons!

[Anonymous]

I mean, what’s the alternative? If you are ready to retire, you should – $12 million will provide plenty of money for you to live in your non-extravagant lifestyle and leave plenty for your daughter too. But if you aren’t ready to retire, then go ahead and continue to accrue. Your daughter will either be a more free spender than you are, and appreciate the extra money, or she can donate it to charity.

[Anonymous]

Your DD has no idea what her life will bring. Most people feel the urge to procreate by their 30s. Not to say it will or won't happen, but now is not the time to decide there won't be another generation.

In the meantime, plan your life with great experiences--take fun vacations, cook nice dinners, be with family and friends as often as you can. You have plenty of money and should not limit yourself. But probably not the time to buy a private jet and an island in the Caribbean.

[Anonymous]

Anonymous wrote:Your DD has no idea what her life will bring. Most people feel the urge to procreate by their 30s. Not to say it will or won't happen, but now is not the time to decide there won't be another generation.

In the meantime, plan your life with great experiences--take fun vacations, cook nice dinners, be with family and friends as often as you can. You have plenty of money and should not limit yourself. But probably not the time to buy a private jet and an island in the Caribbean.

+1. I'm 40 and have seen a couple people who insisted they didn't want kids suddenly pop one out recently. Also some who didn't.

[Anonymous]

Was your DD sexually assaulted?

[Anonymous]

Anonymous wrote:Is there anything you care about? A cause? An organization? A school? Perhaps your daughter will grow into someone with a cause, or want to start a business.

Lots of reasons!

DD is targeting a career as a research scientist. She likely won’t ever make a lot of money, but she probably won’t be going out of pocket either. She’s won 3 fully funded summer research scholarships/fellowships so far.

[Anonymous]

Anonymous wrote:Late 40s typical white collar professionals, ~12MM current net worth, fairly modest lifestyle, mortgage paid off and no other debt, 4 elderly parents who not only don’t need us to take care of them financially but whose NW continues to grow as well, 1 kid (in college with a fully funded 529).

DD identifies as aromantic and asexual and doesn’t want kids - ever. Granted, she’s young, but I think she knows herself pretty well. If there’s not going to be a next generation past DD, is there any point in trying to build generational wealth?

How old is she?

[Anonymous]

Anonymous wrote:Your DD has no idea what her life will bring. Most people feel the urge to procreate by their 30s. Not to say it will or won't happen, but now is not the time to decide there won't be another generation.

In the meantime, plan your life with great experiences--take fun vacations, cook nice dinners, be with family and friends as often as you can. You have plenty of money and should not limit yourself. But probably not the time to buy a private jet and an island in the Caribbean.

So says a mommy living in her mommy bubble and assuming everyone thinks like her.

I know many, many perfectly happy people who feel no such urge.

[Anonymous]

Anonymous wrote:Was your DD sexually assaulted?

Not that I’m aware of, and I do believe she would tell me if she had been.

[Anonymous]

In your will, you could donate half AND leave enough to your daughter to subsidize anything she wants to do. You could start building a relationship now with nonprofit(s) doing work that is meaningful to your family.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Was your DD sexually assaulted?

Not that I’m aware of, and I do believe she would tell me if she had been.

OP, you're on the wrong website. DCUM assumes that if you don't want kids you're either lying to yourself or you're a freak.

[Anonymous]

You have been good at making money. Why stop? The more the better.

There are so many ways you will spend your money in a way that will make your family proud and happy. You can set a scholarship etc

[Anonymous]

You have generational wealth for her already.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Was your DD sexually assaulted?

Not that I’m aware of, and I do believe she would tell me if she had been.

Good to hear. I wish I was closed to my daughter like that so she could tell me if things like that happen. She is currently in college. We are divorced, I know she will tell her mom but she is stubborn just like and will try to ride it alone.