Reply to Parents wanting to leave $1M home to sibling

Forum Index » Family Relationships

Reply to "Parents wanting to leave $1M home to sibling"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]"OP here. My sister's lives overseas and makes a pretty good amount of money living as an expat. Housing is completely paid for, receives cost of living expense, free ticket home each year. She has a good life. She doesn't want to live in the States and that is why she hasn't purchased a home."

So, the sister should have been investing the money she isn't spending on her own housing all this time.  This would mean that she's got a significant amount of money saved by this point in time, sitting in an account somewhere. Let's say, conservatively, that this was $2K/month for ten years.  That's $24K annually, times 10 years, which is well over $240K, counting all the interest she would have earned on this over time.  Plus, there's the money that OP spent on a down payment that the sister should have sitting in an account somewhere.

The mom isn't including this very nice nest egg in her assessment of the "need" of her two children, to the detriment of OP.

The bigger problem with working class families is that they often tend to think about things like real estate as a home, instead of as a financial asset. Once it's in the hands of the heir, she can liquidate it, but that probably hasn't occurred to this clueless mom.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics