Reply to Vox article on inheritance

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not really surprised by this, the net worth of the top 10% is >1M so why not a 500k+ inheritance?
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This. My parents were very middle class, and my sister I should inherit about $1m each. [/quote]

:shock: [/quote]

Listen, folks.  Just because YOUR middle class parents are/were terrible with their money (thus leaving you little to nothing) doesn’t mean that other older people who were responsible and saved/invested their money throughout their lives (thus leaving an inheritance for their children - even *gasp* one million dollars!!!) were “rich” - they saved their money, now they have money!  Some of you should try it.

That being said, I am struggling to even get through that article.  It is structured in such a bizarre, haphazard way that it reads almost like a stream of consciousness.  I really miss editors.[/quote]

Listen to yourself. What a nasty thing to say. Your parents might have saved a lot of money but that clearly doesn't say anything about their parenting skills.

My (lower) middle class parents had a large number of children, a couple of whom had severe medical issues. They weren't "terrible with their money" - they had a lot more bills than your "superior" parents did.  They didn't save much at all compared to the folks of DCUM, but my dad got himself a job with an excellent pension so they live just fine in retirement. 50 years ago they bought a nice house in a good neighborhood but it is in the middle of the country so it hasn't appreciated as much as it would have in some parts of the country- if it were a property in the DC area it would be worth well over a million. But it's not. So they'll leave a modest amount that will be divided up by my kids and maybe we'll get 25-30k each. Except some of us with means will give our share to our siblings who need it more.

Not nearly as much as your million dollars, but we received something more important from our parents, which was to know how to grow up to be good people who don't think money is a moral value.[/quote]

I never said MY parents saved any money.  They were solidly middle class and I won’t inherit a dime (thank God we don’t inherit debt!).  But I am not blind or stupid - they don’t have anything because they spent it all throughout their lives, and never made saving a priority.  That’s fine, totally their choice how they live their lives, but they (and I would imagine most middle class boomers who don’t have much in retirement) are simply living the consequences of their own choices.

It sounds like your parents will leave you a hell of a lot more than my parents will leave to me.  By the logic of MANY posters on this thread (and the logic I was trying to push back against with my post) that means your parents weren’t lower middle class!  They were clearly rich or at least upper middle class if they can leave you an inheritance!!!

(As an aside, maybe stop accusing people of being nasty if you either don’t understand what they’re saying or simply disagree with them.  Not every comment is a personal attack on you.  Although you turned your failure to comprehend my point into a personal attack on me, as well as my parents...)[/quote]

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