Reply to Do you cut back on 401k/IRA saving if you expect to inherit millions?

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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][quote=Anonymous][quote=Anonymous][quote=Anonymous]I feel like no one answering here is actually in a true position of inheriting real money. My parents are roughly 20M net worth and it will only grow as it is invested. They couldn’t spend down the principle if they tried. Of course, I am counting on inheriting a large amount in my due time, it would be foolish to plan otherwise. We save the minimum in retirement but otherwise aren’t worried about it in the slightest. We have other worries but money isn’t one of them. I know we will be just fine in retirement.[/quote]

[b]I feel like people with real money give their kids money while they're alive.[/b] I'm skeptical of money that's supposedly there but won't be mine until they pass: it may not actually be there, it may not be liquid, it may get spent on medical bills or a bad lawsuit, or they may live well into my retirement. My dad is in his 70s taking care of his mom on her 90s: if he inherits anything (unlikely,  since she remarried) he'll be too old for it to have mattered to his retirement. [/quote]

+1 If you haven't already been receiving the money, then don't count on it.[/quote]

It’s safe to assume people in the PP’s position are already maxing out the annual exemption and have an eye on 2026, as well as a solid estate plan. It’s likely they also pay any and all tuition for the children and grandchildren. There are probably other gifts and distributions as well. [/quote]

No, it's not safe to assume that. OP didn't mention that at all, just an expectation to eventually inherit some money. That's what making some of us posters wary of counting on it.[/quote]

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