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Leaving money or property to your dependants sometimes can do more harms than good. If you have unorganised dependant, then leaving an inheritance is definitely a bad idea. To many people, they thought of retirement and giving an inheritance is a big dilemma, especially in today’s economy.
Some parents have to endure living with their children who are fighting about their property or inheritance while they (the parents) are still alive. Many retirees should think twice whether for them to give or reserve their property for their children to inherit is the best choice for them to make.
Parents, you have to admit that your ungrateful and bickering children don’t deserve what you earned for a long time. Whether you are a new or future retiree, you should re-think about giving an inheritance because how you can live comfortable after your retirement should be paramount in your mind.
Are you planning to live poor and destitute, knowing that you have money for your children lying around? Many retirees are realising now that leaving money to their children tends to tear the family apart, if the children are fighting now about their inheritance while they are still alive, what makes you think they won’t be arguing after you’re dead? That is the reason; you’re better off leaving nothing rather than see the heartache of your children arguing over their inheritance.
Experts say by the time you retire, you can think back that you did enough for your children in order for them to survive as adults. You paid for their College education, helped with the down-payment for their new house, and gave money to them for life’s necessities, so that’s enough already. You gave them everything they needed to start their lives, so once they reach adulthood they would have full-time jobs, a family, and a good income.
You’ve done your job to get them on their two feet.
After giving all you can financially, what the kids do from that point is their responsibility, not yours. Always remember that retirement means “no more money to you after you retire because you are spending for it.
Your days as a “human ATM cash-machine” is gone because you’re now on a fixed-income and living off your retirement money. Tell your kids on the day you retire, and they should know that your money has been retired too. The money that you earned so well will now be used for bigger and better things in your new life.
Besides, with today’s economy, times are tough and most retirees are not retiring with the amount of money like previous retirees did years ago because inflation has made the whole thing worse and sometimes it even take too long to receive your benefit as a retiree, which you need the money to take care of yourself, not save it for an inheritance.
Your needs to retire comfortably should be a priority and that’s where your retirement money comes in handy. After all, you earned it, so enjoy it the best way you can. When you finally kick the bucket, you can rest easy that you did the best you could to help your children.
You nurtured them, cared for them, and gave money to them when they needed it. The children will be fine. Moreover, if you gave the kids a very huge amount of money, they’ll end up squandering it away anyway. The best you can give to them is education because is the best legacy you can give to children.
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