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Reply to "When do you tell kids about family money?"
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[quote=Anonymous][quote=Anonymous]My kids are in their late 20s and will also inherit some money from a grandparent (a little less than OP) and money from us (more than OP). They know about the grandparent money and that's a little bit more real as they will likely get that in the next 10-12 years. It will help them each buy a nice house. They know we are well off but probably don't know the full scale of it beyond the value of our 2 houses. And I think we will keep it that way for a while. They need to continue to work and plan as if the money isn't there, because it will (hopefully) be a while before they inherit it. I will be retired before I inherit anything from my parents so I've always planned for retirement as if it weren't there.[/quote] If you live in 2, $2-3M homes, your kids likely know your net worth range. Especially if they are 18+. Also, especially if you didn't buy the homes for $400K and they increased in value (ie you purchased them for $2M+)[/quote]
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