Pourquoi? Because they’d rather spend the money themselves. Touching, isn’t it, that last gasp of selfishness? Emphasis mine.
They spent their lives building businesses and careers, often at the expense of their health or personal relationships. And after years of footing the bill for their kids’ pricey educations, they see no reason to curb their spending impulses in their later years.
Besides, they figure, their kids will get something since nobody can synchronize their demise precisely to the emptying of their bank accounts.
“I do not see my baby boomer clients giving up a vacation or wine or dinners out so that they can leave more money to their children, because they feel like they’ve already done it for their kids,” said Susan Colpitts, executive vice president of a wealth management firm in Norfolk, Va.
“They say, ‘If there’s something at the end I’d love [the kids] to have it, but what’s important for me now is to get what I’ve earned, which is to travel and have a nice bottle of wine,'” Colpitts said.
To be fair, children should expect nothing of their parents beyond basic need. That said, I hope to provide my kids with something, though these days who knows what will be left (if anything!) (Maybe we should’ve bought a cow or two and some land for grazing. At least that’s tangible, no?)
But the attitude here strikes me as off–it’s another gasp of the me-me culture boomers created. My needs first. My wants first. And hey, if there’s anything left, well, you can pick up the crumbs I leave behind. It’s funny and foreign to me, since my attitude as a wife and mother places my family first. Antiquated, I know.