Should we spend the kids inhertiance and enjoy OUR retirement??

An interesting scenario which affects many of us, with the decision to retire! What do you think? 

Should you spend the kids’ inheritance and enjoy yourself in retirement? Read the question and leave your answer in comments at the bottom.

My wife and I have worked hard all our lives and recently retired with a decent sum of money saved up and own our home with no mortgage.

We consider ourselves to have been dealt a reasonably good hand financially, but are by no means rich and our pensions are nothing to write home about but enough to get by on.

Fortunately, we are both in good health and have been discussing whether we should take advantage of this while we can. 

We have always dreamed of travelling the world and enjoying retirement to the full. 

We’d like to go to Asia, Australia, South America, around Europe and more, and have even talked before when on holiday about trying to buy a little place in the sun, although I think it is highly unlikely we would do that.

The problem is that we can’t even really begin to discuss our plans properly without deciding what we have to spend – and that depends on what we want to leave for our two grown-up children.

Our savings amount to nearly £100,000 and our house is worth about £200,000. Using just the savings we could enjoy plenty of travel for years to come and still keep some aside for rainy day expenses. 

If we sold our home and moved to a smaller one, we could even maybe stretch to a small second home abroad. 

Our children have told us they would rather we enjoyed retirement than worried about them, but we can’t help but think how happy it would make them both to own their own homes – and giving them some of our savings could make that a reality. 

We are also slightly concerned that we should keep something back in case one or both of us need long-term care when we are older.

Should we worry about the kids, or just enjoy ourselves?




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