Parents and grandparents have realised that they don’t owe their children cushy lives, nor do they have to save every penny for them. After all, YOLO
A couple of weeks ago I read an article in a British newspaper, and I haven’t stopped thinking about it since. It was written – anonymously (I wonder why?) – by a young person who was very concerned about the fact that their inheritance was being squandered by their parents who were blowing up their savings on expensive holidays, new cars, luxury purchases, etc. At the rate at which these boomers were going through their money, their resentful child complained, there would be nothing left to inherit by the time they passed.
This generation of parents and grandparents will spend their savings on taking holidays. (Adobe Stock)
This generation of grandparents will indulge grandkids, but on their own terms.