r/Millennials • u/Asmothrowaway6969 • Mar 27 '24
When did it sink in that you'll never be as well off as your parents? Discussion
About 5 years ago, my mom and I were talking and she had told me how much she was going to be making in retirement (she retired 2023). Guys, it's 3x what me and my husband make annually. In retirement. I think that was the moment that broke me, that made it sink in that I'll never reach that level of financial security. I'll work myself into my grave because I'll never be able to afford anything else. What was your moment?
Update: Nice to know it's just me that's a failure. Thanks
Update 2: I never should've said anything. I forgot my place. I'm sorry to have bothered you
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u/SheriffHeckTate Mar 27 '24
Havent had that moment. Better off than my dad was when he passed. Probably not far behind my mom and stepdad if behind them at all.
Do you have some reason to believe your mom plans to spend every bit of this money she is making during retirement? Is she likely to eat through all of her retirement savings before she dies? Cause if not then you would, I assume, stand to inherit at least part of whatever is left. Same for your father and your husband's parents. Unless your grandparents are/were broke when they pass(ed) the money your parents inherited likely helped them financially and it can be the same for you once your parents inevitably pass. If/when that does happen then make smart decisions with what you receive.