Your Child’s Inheritance: Spend it or Save it?

 "I would as soon leave my son a curse as the almighty dollar." -- Andrew Carnegie

Let's blame it on parental DNA. Somewhere deep in the marrow of our bones, many of us believe it is an act of love, generosity--or pursuit of forgiveness--to leave our children an inheritance. Sometimes we even convince ourselves that the more money we leave, the greater our act of love! However, is it possible the assumption that our kids will benefit from, and appreciate, our gift is flawed? Could it be that leaving money to our children after we die is a zero-sum game? Said another way, is it possible that for everything we give our children, we take something else away?

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Financing The Boomerang Tax

In 2018, Zillow released a report estimating that nearly one third of college graduates will move back home with their parents. For some parents, that outcome is a dream come true. For others, it’s a nightmare. Regardless of how you feel emotionally, it’s important to understand the financial impact of indefinitely supporting children after graduation day.

How can this increase in aid towards children be explained? The sudden expansion in support for adult children is usually linked to rising education expenses, increasing housing costs, stagnant wage growth and numerous additional factors.

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