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Reply to "Tired of investing/planning - surrounded by flashy money"
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[quote=Anonymous]NP - why is pps post insane? The numbers are correct. Four grandkids at $750k each is $3mill. If you had $10ml in investable assets, $3mill is a lot to take out of that. Yes they are prob paying with runoff as they go but if all grandkids are in college at the same time it could get complicated with taxes. I’ve absolutely seen the finances of older retirees change due to so many different circumstances mostly due to what pp described. I wold never count 100% on money from grandparents - it may be a fraction of what is expected. I’ve known retired people with many millions declare bankruptcy - got caught in a downturn etc. these were well-educated executives. People are people and they misjudge, make mistakes, are too arrogant to seek professional guidance. It happens. [/quote]
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