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Reply to "Do you cut back on 401k/IRA saving if you expect to inherit millions?"
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[quote=Anonymous][quote=Anonymous]What does "expect" even mean? The only guarantees in life is tax and death. I don't know how you would "expect" something when the person is not even dead yet. [/quote] We are worth $30M+, and that number could easily go to $50M+ (at least a 60% chance of the increase). Our kids know they will inherit a large amount. There is no way we would blow thru that, even with major long term medical care. So there's a 99% chance each kid is getting well over $10M. They know that. However, they still save and but we supplement that by gifting them the max each year now, so that they can maximize their taxable savings and use the money to build a good life now. But in their case, expecting to get a large sum is pretty much guaranteed. [/quote]
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