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Reply to "If you go on vacation with your elderly parents, who pays?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We pay. We have more money and have more expensive tastes. In the natural order kids should be more successful than their parents. Each generation should do better than the last so it makes sense for well to do kids to pay after all the parents' sacrifices.[/quote] I mean, sort of. My FIL and DH are both lawyers. My DH at 45 doesn’t yet make as much as his father makes at 67, but I’m sure he will one day! My FIL graciously pays. He would be insulted if we paid. [/quote] My dad is the opposite. He's made 7 figures since the mid-nineties, but he took pride in raising us kids to be independent and able to take him out to dinner. He only started giving away money in his seventies, when his estate-planning attorney told him that if he didn't, it'd go to the government via taxes. No hard feelings here - graduating from law school with zero debt was his biggest gift to me and by proxy my family. It's easy to set yourself up in life, starting a big law job with zero debt. Also, he recently set up trusts for my kids, which relieves me of the stress of leaving them a legacy. I can spend everything I make going forward because I know my kids have money via their grandparents that is locked up for them. [/quote]
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