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Reply #30


Response to CJCRANE (Reply #20)

Fri May 25, 2012, 03:16 PM

30. That's why kids sometimes don't get parents money

He should be saving that, so I hope he's not spending $25k per year for vacationing. I know multi-millionaires who do not vacation "in style".

I would not feel comfortable until interest income were well over $100k, and even then, that's not enough to vacation in style. That's when one might be able to retire modestly though.

By spending parents' money when one is young, it's an indication they expect their parents to die. What happens when the parents are 80 and the kid is 60? He'll want to retire, so do they expect their parents to give them more money at that point? And what about the grandkids?

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