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Reply to "When do you tell kids about family money?"
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[quote=Anonymous][quote=Anonymous]My in-laws sold their business in the late 90s for a boatload of money and my spouse was 27 at the time. Both parents are still alive. We have no clue what their net worth is but if they made reasonable investments it should have increased many times over during the last 25 years. From day one, we decided to assume that we would not see a dime. We have created a substantial nest egg of our own. With our daughter, we have tried to instill the same lessons. [/quote] And your IL have not offered to at least help with college for the grandkids?!?!? It sounds like they made 10M+. Plenty to at least jumpstart a 529 for each grandkid (considering if you put $100K in when the kid is born and let it grow, there is in-state and much more at 18/20) [/quote]
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