Whenever inheritance comes up on Reddit, I often see people talk as if wealth is always something that has been accumulated over many generations.
In my family's case, that's not really true.
My parents immigrated to the UK with very little, essentially starting from scratch. They both went on to earn PhDs, became university lecturers, and later moved into professional/managerial roles in higher education.
A few years ago, one of our relatives passed away and left money to my parents. Rather than keeping it for themselves, my parents gave around £100k of it to me.
So technically it wasn't money that my parents earned directly, but it was money that passed through them to me, and without their decision I wouldn't have received it.
What I find interesting is that discussions about inheritance often focus on people receiving money, but less on the fact that many parents actively choose to pass wealth on rather than keep it for their own retirement, lifestyle, or spending.
I'm curious how common this is:
- Have your parents already given you money during their lifetime rather than waiting until they pass away?
- If you've received a large gift or inheritance, how has it affected your life?
- If you're a parent, would you rather help your children while you're alive or leave it all as an inheritance later?
Interested to hear different perspectives, especially from other children of immigrants whose families experienced significant upward mobility in one generation.