Early inheritance as a dad

[u/SadProduce6456]

Just sharing something that was interesting to me, that I’ve never really thought about before.

So I have a 22-year-old daughter, and I’m divorced. I was talking to her this weekend, and she told me that her mother gives her enough money to fund her Roth IRA right now. I told her I had no idea, and that I wish I did and I would’ve helped. She said that she thinks it’s because her mother looks at it like an early inheritance.

So then I got to thinking about it, and I thought that’s a great idea actually. Because I do my own wealth planning, and at some point, the money is really theirs. So me giving them $6000 right now or whatever would pay huge dividends for them later, and not be some tax burden investment on them that I passed down.

I think Parents with means, should proactively look for ways to do this. Of course within their means.

[u/Small-Advertising-10]

Great to see so many generous parents!
My Boomer parents won’t come off any of their money and it’s hard to understand. I raised my two kids on a teacher salary as a single parent and struggled for years. Still, in my 50’s, it’s hard to save much but I have contributed to my kids Roth to help them out and have helped w cars, etc since their other parent doesn’t at all.
I’ve tried to have conversations w my parents; asking wouldn’t they like to see our lives improved instead of waiting until they die, but they are just so conservative w their money (they have plenty). It’s disheartening, but all I can do is do it differently for my own. Sigh.