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Reply to "Generational Wealth"
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[quote=Anonymous]I believe I have generational wealth. My college was 100% paid for by my parents. I also started life with about $200k in stock from a grandmother, which enabled me to buy a house early. I therefore have been able to plow my salary into retirement accounts and 529. When my parents die, I will likely inherit more money. My kids will have their college paid. We can help them get a house. They will therefore be better able to save, etc. They will likely inherit money when I die. With all this comes a philosophical approach to money. You invest for the long term. You are careful with spending. You take advantage of tax advantages. You teach the next generation all of this. So every generation starts life with a little push.[/quote]
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