Moral Money: ‘My dad is squandering my inheritance, can I ask him to stop?’
It’s his money, he worked for it, it ain’t “your inheritance”.
My divorced father, who is in his late 60s, is spending huge amounts on holidays, luxuries and generally living the high life.
I worry there will be little left for me in my inheritance. I am 35, and I feel that my father’s generation had it easier when it came to making and saving money. Can I ask him to be more thrifty?
GH, via letter
You are a victim of the intergenerational wealth gap.
Your father’s age puts him slap bang in the middle of the baby boomer generation, many of whom benefitted from cheaper property prices, better wage growth and higher savings rates than their children and grandchildren.
Some readers would say your father earned his money and that he can spend it how he likes….
Not just some readers, all with any moral sense whatsoever.
Bugger off matey.