Anonymous wrote:After your parents retired, what were their net worths? If they passed away (my condolences), what was their net worth at the end of their lives?

I don't know what my parents' net worth is. My dad has recently taken up day trading, and though he hasn't lost money yet, I don't know if I should be concerned.

friends dad started day trading when they had a brain tumor. day trading can go south very very quickly.

Day trading in retirement age is a red flag to me. But I had a family member lose everything this way, and ultimately need to be supported by their children.

My husband's parents (in neighborhood of 5 mil I think) have stepped back from active management of their portfolios, though they were always more hands on when he was growing up. Now it's a robo-advisor or maybe paying a modest amount (not a full financial advisor markup fee) for someone else to manage it. Done on purpose to protect themselves from situations where they may not be making good decisions or medically are unable to.

I would absolutely talk to your dad!

Anonymous wrote:

Anonymous wrote:My parents are very conservative spenders and private about this except that my father says don't expect anything. He doesn't believe in inheritances, neither parent received one. I would think they have a few million.

So they are going to donate their millions?

He says it is going to God (church).

My folks retired around the year 2000 with about $1 million in assets and were pretty responsible folks. It was no match for dementia and Alzheimers. By the time my mom last year it was all gone (and then some).

My dad retired at 55 with about $1M. He lived to be 83 and his estate was worth about $1.4M. For many years he gave $10k annual gifts to extended family - he was the first in his family to go to college. I inherited $420k in stocks split with 2 siblings and his home was left to his second wife’s family. I’ve spent very little of what I inherited and it’s more than doubled…it will help cover college costs for our kids and our retirement.

My mom has about $6 million; I'm one of four kids, but I don't know if the will is mostly charitable donations or if she's leaving it to us.

At least one of my siblings wants the money, despite the fact that our parents paid for our educations and helped with certain starting-out expenses, plus annual gifts for years. It's really affecting how I feel about them.

Both in 80s with Dad's fed pension and Mom's SS (though with minimal earning record) in LCOL area. Likely 200-300k plus 200k house. I feel fortunate they planned for these years, but realize that something happening to him first (pension would drop) or assisted living needs would change things. None of us need anything from them and we've told them they should use what they have for themselves, but old habits are hard to break.

My parent's net worth is maybe somewhere around $50K. There is federal gov't retirement and Social security and that's about it. It's probably less, actually - maybe $20K.

70ish million

My in-laws have negative net worth, just debt. My parents are abroad so it's very different. They own their home and my grandma's home + some forest land. I have no idea how much they have saved but I would assume modest amounts.

My parents own two homes each around 1.5M. I assume they have investments in the millions but not sure -we don’t discuss it. They make comments about how I will inherit millions so I assume that’s the case. I remember my mom commented about 15 years ago that my dad forgot about 500K he had in an investment account through his old job. That alone should be significant now if they haven’t spent it down.

My 75 year old parents are/were very middle class with some lucky investments. LCOL area ($200k-$250k house?) with about $2M, plus pensions, and SS. They finally pulled the trigger on spending a little after living very frugally for years. My dad is like a little kid with his very first "new" car. He talks about it constantly when I'm around, and they just took their first trip to Europe. It makes me happy to see them enjoy some of these things, and I hope they just leave a few beers in the fridge when they pass.

When my dad pass, the estate was a little less than $1M. It was split among the 5 children.

Anonymous wrote:My parents are very conservative spenders and private about this except that my father says don't expect anything. He doesn't believe in inheritances, neither parent received one. I would think they have a few million.

So they are going to donate their millions?

My parents are very conservative spenders and private about this except that my father says don't expect anything. He doesn't believe in inheritances, neither parent received one. I would think they have a few million.