Reply to If you know you’ll be inheriting a significant amount

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[quote=Anonymous]My parents created trusts for me and my siblings a few years ago and put $3M into each. With decent returns over the next 20-25 years each trust will be worth around $10-15M. Anything they don’t spend while alive and their real estate portfolio will be split between me and my siblings. My parents also contribute the max to our kids 529s annually and give us around $30K a year for birthdays and holidays. We may get something from DH’s parents, but I’m not counting on it.

DH and I have three kids, but we are both high earners ($700K HHI) and expect to keep growing in our careers since we are mid-30s. We have a healthy investment account that we contribute to annually and we max out our 401Ks. We spend a lot of money on nanny/preschool for our three kids but when we come up for air in about five years those costs should go way down and our income should have increased quite a bit too. Although I expect we’ll be paying for some afternoon childcare help through at least elementary school and we plan to send kids to private starting in 6th.

I want to think that living within our means and saving as much as we can is good for our kids to see but I also envy people who have access to their trusts or get payouts throughout their lifetime. Having access to my trust at 55 or 60 will be great and with the money we will have saved we can take care of our grandkids college needs, travel, help our kids out as needed, and leave a lot to our kids but it would also be nice to feel like we had more choices now- less pressure to keep climbing and to coast more at least when our kids are young.[/quote]

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