Baby boomers are increasingly following a selfish trend that could anger younger generations, but one mom says it’s only fair.
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Baby boomers are embracing a movement called SKI, or Spending the Inheritance of Kids, where parents actively spend all their money so that there is nothing left for their children.
While this seemingly callous mindset will anger many millennials and Gen Zers whose only hope of getting onto the property ladder may be through inheritance, others say the problem lies with the youth.
Trudy Wertheim says we need a shift in mindset among younger generations who expect to get something for nothing.
Trudy Wertheim says she’s happy to spend her children’s inheritance and doesn’t feel guilty about it.
Ms. Wertheim says her children are happy because she can spend her money the way she wants.
Talking to Hey ho“There is a whole generation of children being raised who may not have had the idea instilled in them from an early age by their caregivers that if you work hard, you can get everything you want out of life and more,” she said.
“There are generations coming up who don’t expect to work. They expect to inherit a family home or have it given to them or bought for them by their parents.”
Ms. Wertheim is a single mother and said she has worked extremely hard for decades to support her family.
She is now in her 50s, has children in their 30s, and is starting to think about retirement.
She says her children support her policy on ice skating.
“They never said to me, ‘We expect you not to spend your hard-earned savings, because it’s ours,’” she said.
“None of my children have ever said such words to me. My children have said to me, ‘Go live your life. Do whatever you want. All we want is for you to be happy, Mom.’”
Ms. Wertheim said she instilled a hard work ethic in her children from an early age, something not all parents do.
Some parents choose to give money to their children so they can use it for education or to buy a home before they die.
But Ms. Wertheim said that could also cause problems, as one of her sons had bought a house, but the other was still renting.
“Maybe I should have given the child who is renting money to help her buy a house, but how is that fair to the child who was already in the housing market before this started?” she said.
“I’ll have to give them money too. I feel like society is pressuring me like this.”
Many retirees need to travel while they are still healthy, Ms. Wertheim added, as traveling to Bali when you are in your 80s presents its own challenges.
Online, SKI supporters say younger generations need to take up the mantle.
“My kids are happy that I spent the money on them. They can have our house, which was more than what I had when my parents died,” one wrote.
“They earned what they deserved and can spend it. There are a lot of people who deserve what they deserve,” said another.
A third added: “The kids inherit your house, and your money is yours to spend as you please.”
