I don’t get angry about it…I just figured that I had to work like hell to get what I have, and I would have gladly given up every dime I got when my parents died to have them back for a few more years. I was 45 when I lost both my parents.
I own my house but I do have a mortgage on it. Being the nicest guy that a girl could divorce does that to you. I have had 4 houses. The first we had a gift from my inlaws for the down payment, but the house was only $92k when we bought it. We used the money from the sale of the previous homes as the down payment on the subsequent homes. Before owning I had several apartments in Dallas and a townhouse I rented in KC for a year.
I kind of look at passing down money the way my ex mother in law did…she had 6 kids and her estate was not big at all. She said she would rather spend the money on her family while she could enjoy it (pissing it away I guess). We had to split my parents estate 4 ways, which wasn’t a huge windfall. Since they died when I was 45, I would have gladly given every dime back PLUS some, if I could have had them here for another 15 or 20 years. I think I’ve got a decent balance in life…I didn’t deny myself a lot over the years, and I don’t have to deny myself a lot to live in retirement. Since I only have one kid, when I die, the equity in the house alone will give her a pretty decent windfall, whether she keeps he house or sells it. I have enough income during retirement to last me until I am 100, but I am not sure I want to live that long unless I can do more than watch the Price is Right on TV.
I feel that my responsibility is to make life easier for my kids than it was for me. My parents had the same strategy. My kids will graduate college with no debt (thanks to Biden) and a paid for car. They can pursue any career they want because they can retire at 45. Why would I want them to have to work until 65 before enjoying life? That sucks.
Own. Think it is 11 places over 50 years. Had the last one about 30 years. Interestingly when I build or buy something just big enough for me to enjoy being single, a new wife shows up! This place I got a mortgage on because I didn’t want to mess with IRA money. Then knocked it down pretty good with proceeds from last place. Then, got an Alaska bride who subscribes to the Ramsey school of debt and she finished it off.
I hate rentals, renting, and renters. What would my bride do without this place? She can sew or mow, weed or paint, goto quilt guild or shop. Or just enjoy discovering new flowers in this “old garden” place. You don’t get that in a rental, and I was extremely fortunate to buy it.
Tee hee didn’t know I was hinting! Both places were built/bought with absolutely no knowledge or expectation of a married future. I suppose the appreciation was enormous because new bride is as delightful as late wife was insufferable.
After 35+ years though, the first place/farm appreciated over 4x. Flipped via 1031 exchange into another investment, a rent house.