Reply to How much is considered generational wealth?

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[quote=Anonymous]In the early 60’s, mother inherited about $8k from a dear Aunt and my parents used it as a down payment for their house they bought in 1970.  I consider that generational.

The generational wealth DH and I received was paying for the part of college that was not covered by scholarships and our own earnings.  As a result, we both graduated without loans.  That was a real leg up. A few years ago the last of our parents passed.  From both sides, in total we inherited about $400k -again a generational wealth transfer.

We are doing the same for our children and a bit more.  We have paid for their undergraduate college,  started Roth IRAs for them when they started  earn some money and gave them a used car that should take them 5+ years post college.  We are also considering giving them some money when we sell our house - ostensibly to supplement their savings for a down payment ($50-$100k,  our house seems to be worth quite a bit more than we were planning to sell for our retirement).

After that, who knows.  It depends on how our retirement investments go.  FWIW, our HHI started around $100k when we married nearly 30 years ago and is currently around $200k.

I consider all of the above to be generational wealth.  [/quote]

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