Since my dad was a government worker who started back in the days when they had excellent pension/insurance packages, and we moved into a house a little further out and which wasn't huge (it was plenty big in that my sister and I both had our own bedrooms, and there was a small guest room, but hardly the McMansion common in suburbia these days) so they'll have it paid off in another couple years, I do think it highly likely that there will be some money to inherit. It won't be huge, but I think they said that if either of us start a family, they expect to be able to leave us enough to pay for a couple years of in-state college expenses for a few grandkids.
A lot of this was because we basically didn't have vacations when I was a kid (just visits to the grandparents in NYC, which didn't cost much more than gas), since they were determined to save enough $ to send us to college without debt. As it turns out, they didn't need to spend anything at all for my college, so that's been sitting in the bank ever since. I've taken a look at some of their retirement planning numbers, and they appear all set. Basically, we went from about 60th percentile in my youth and HS years(not adjusted for living near DC), to about 80th percentile when I was in college due to Dad's promotion, but non-college spending didn't increase.
I don't expect anything from them, and unlike my sister, I haven't even placed dibs on anything like the old living room sofa which is extremely comfortable to nap on. But given that neither wants prolonged, painful medical treatment if they come down w/cancer or something, I do think it's highly probable that I'll end up inheriting at least $50-75k.
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chiming
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Date: 2012-04-09 01:21 am (UTC)From:A lot of this was because we basically didn't have vacations when I was a kid (just visits to the grandparents in NYC, which didn't cost much more than gas), since they were determined to save enough $ to send us to college without debt. As it turns out, they didn't need to spend anything at all for my college, so that's been sitting in the bank ever since. I've taken a look at some of their retirement planning numbers, and they appear all set. Basically, we went from about 60th percentile in my youth and HS years(not adjusted for living near DC), to about 80th percentile when I was in college due to Dad's promotion, but non-college spending didn't increase.
I don't expect anything from them, and unlike my sister, I haven't even placed dibs on anything like the old living room sofa which is extremely comfortable to nap on. But given that neither wants prolonged, painful medical treatment if they come down w/cancer or something, I do think it's highly probable that I'll end up inheriting at least $50-75k.