inheritance
Nov. 24th, 2007 08:21 amone of the headlines on the cover of details magazine this month irks me a lot:
"are your parents squandering your inheritance?"
one reason it irks me is simple and straightforward--that's not really what the corresponding article is about. the article is about older parents who haven't saved for retirement, retired, spend money recklessly, and then ask their kids to bail them out. that's a legitimate problem to write an article about. that's a proper thing for a kid to consider, because it's not a kid's duty to bail their parents out if they do something stupid with their money. the headline on the cover should have something to do with that, the actual subject matter of the article. it should not be something sensational and inaccurate. magazines do that all the time, and it bugs me. headlines and teasers on the cover need to be catchy, but they also need to be accurate reflections of the articles inside the magazine.
the other thing that irks me is the text of the headline itself. even though it has nothing to do with the article, just the fact that someone would ask the question of whether their parents are squandering their inheritance is disrespectful.
a parent's money doesn't belong to a grown-up kid. it's the parents' obligation to use their money for the kids when the kids are too young to take care of themselves on their own. once the kid is old enough to leave home and be solvent on their own, the parent is under no obligation to spend money on behalf of the child. parents don't have to acquire money for the purpose of leaving it to kids when they die. that seems rather silly. what happens to be left unspent after the parents die...that can be distributed however the will says it should be. but, money is for the living to enjoy, and money is first and foremost for the person who made it to do with it what he or she chooses.
there's no such thing as squandering an inheritance. as long as the parents aren't spending money in a way that would leave the kids forced to bail them out, the parents should spend their money vigorously in their retirement. retirement is time to kick back, goof off, have fun, and not worry about working. as long as there's enough there in the retirement kitty to assure a comfortably long retirement for the parents, there's no problem with the parents spending the money to buy nicer things than they would have otherwise bought. they're retired, they have the money, and they deserve it.
parents don't owe their kids an inheritance, especially at the expense of nice things in their retirement. an inheritance is not something that kids can depend on or should be allowed to depend on. grown-up children are just that: grown-ups. they need to work, make and save their own money, and not make demands that their parents save them some large nest egg when they die.
"are your parents squandering your inheritance?"
one reason it irks me is simple and straightforward--that's not really what the corresponding article is about. the article is about older parents who haven't saved for retirement, retired, spend money recklessly, and then ask their kids to bail them out. that's a legitimate problem to write an article about. that's a proper thing for a kid to consider, because it's not a kid's duty to bail their parents out if they do something stupid with their money. the headline on the cover should have something to do with that, the actual subject matter of the article. it should not be something sensational and inaccurate. magazines do that all the time, and it bugs me. headlines and teasers on the cover need to be catchy, but they also need to be accurate reflections of the articles inside the magazine.
the other thing that irks me is the text of the headline itself. even though it has nothing to do with the article, just the fact that someone would ask the question of whether their parents are squandering their inheritance is disrespectful.
a parent's money doesn't belong to a grown-up kid. it's the parents' obligation to use their money for the kids when the kids are too young to take care of themselves on their own. once the kid is old enough to leave home and be solvent on their own, the parent is under no obligation to spend money on behalf of the child. parents don't have to acquire money for the purpose of leaving it to kids when they die. that seems rather silly. what happens to be left unspent after the parents die...that can be distributed however the will says it should be. but, money is for the living to enjoy, and money is first and foremost for the person who made it to do with it what he or she chooses.
there's no such thing as squandering an inheritance. as long as the parents aren't spending money in a way that would leave the kids forced to bail them out, the parents should spend their money vigorously in their retirement. retirement is time to kick back, goof off, have fun, and not worry about working. as long as there's enough there in the retirement kitty to assure a comfortably long retirement for the parents, there's no problem with the parents spending the money to buy nicer things than they would have otherwise bought. they're retired, they have the money, and they deserve it.
parents don't owe their kids an inheritance, especially at the expense of nice things in their retirement. an inheritance is not something that kids can depend on or should be allowed to depend on. grown-up children are just that: grown-ups. they need to work, make and save their own money, and not make demands that their parents save them some large nest egg when they die.