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  • SPQR
  • Hero of Waygookistan

    • 1501

    • March 08, 2018, 07:04:54 pm
    • Sierra Leone
Are you waiting for an inheritance to save you?
« on: December 04, 2022, 08:45:18 am »
It seems to me a lot of people's only chance of owning a house
or remaining middle class is dependant on receiving an inheritance.
In Korea anyway, if you missed the missed the 2016-2021 property
market express elevator to wealth, then you'll be hard pressed to
do it now.

Why inheritance is the dirty secret of the middle classes harder to talk about than sex

https://www.theguardian.com/money/2022/dec/03/why-inheritance-is-the-dirty-secret-of-the-middle-classes-harder-to-talk-about-than-sex
Blocked: JonVoightCar


  • VanIslander
  • Fanatical Supporter!

    • 4353

    • June 02, 2011, 10:12:19 am
    • South Gyeongsang province for 13 years (with a 7-year Jeju interlude)
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Re: Are you waiting for an inheritance to save you?
« Reply #1 on: December 04, 2022, 09:38:19 am »
Quote
I would much rather have my offspring ''profit'' from my death, instead of a stranger who obtains my life's work at below market value. Or leaving it to the state? Hell no!
But I wouldn't call it profiting. It's the circle of life. Building and sustaining generational wealth is a great way to ensure that your future generations will have better opportunities in life.
So you say... yes?
Help others, especially animals. Say what you think, being considerate of others. Appreciate more than deprecate. Teach well and jump on teachable moments. Enjoy Korea as it is, without changing it. Yet, at times, change your life for the better. "The most important [thing] is to have a good day."


  • Lazio
  • Hero of Waygookistan

    • 1123

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Are you waiting for an inheritance to save you?
« Reply #2 on: December 04, 2022, 12:42:01 pm »
So you say... yes?

None of what I wrote (on another thread) should indicate a ''yes'' answer to this thread's title.
우리 밴이 최고야


  • VanIslander
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Re: Are you waiting for an inheritance to save you?
« Reply #3 on: December 04, 2022, 03:23:55 pm »
None of what I wrote (on another thread) should indicate a ''yes'' answer to this thread's title.
Are you some media guru? Everyone and their dog sees this is a transplanted quote. Is it too much on the nose?

You cheered inheriting money! You backed it up with reasoning. I know here ask if it remains.

The op may be right. People squirm when faced with the facts.

I have lived it. I hated every second of it. I had personally felt compelled to donate almost half of it to charity and buy what the deceased would have wanted me to buy.

When you lose one of the most important people in your life, you cannot appreciate profiting. Any good news is sour. GTFOOH.
« Last Edit: December 04, 2022, 03:32:04 pm by VanIslander »
Help others, especially animals. Say what you think, being considerate of others. Appreciate more than deprecate. Teach well and jump on teachable moments. Enjoy Korea as it is, without changing it. Yet, at times, change your life for the better. "The most important [thing] is to have a good day."


Re: Are you waiting for an inheritance to save you?
« Reply #4 on: December 04, 2022, 04:09:08 pm »
Back in the day, I owned a GT FOOH-EHBOY. The coolest car ever. Yellow with red flames down the sides. Everyone used to say 'Hey Bro, were'd ya get the car. Pretty choice eh!

Anyway, self-absorbed comedy aside, my inheritance bought me a massage chair, a new washing machine, new fridge, my wife took a bit for personal pocket money, and 100,000.000 won went in the bank (the exchange rate took 20%). My kids also inherited the equivalent of 20,000,000 won each. That's the problem when a comfortable middle-class inheritance is split between 6 siblings and 11 grandchildren. Plus, all the non-personal valuables went to art galleries and a museum.

Not exactly a fortune, but none of it was needed, and it was more than expected. It was appreciated though. Strangely enough, I did feel a little guilty as bits and pieces appeared in my bank account. For what reason, I do not know.

Now, I reckon that I've got 20-30 years left, 30 being hopeful. My wife a little longer maybe. Our kids will be left everything we have, with some set aside for grandchildren. Again, my kids already own their apartments. What we leave will just be bonus money...as it should if you plan sensibly.



  • Lazio
  • Hero of Waygookistan

    • 1123

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Are you waiting for an inheritance to save you?
« Reply #5 on: December 04, 2022, 04:27:35 pm »
Are you some media guru? Everyone and their dog sees this is a transplanted quote. Is it too much on the nose?

You cheered inheriting money! You backed it up with reasoning. I know here ask if it remains
.

The op may be right. People squirm when faced with the facts.

I have lived it. I hated every second of it. I had personally felt compelled to donate almost half of it to charity and buy what the deceased would have wanted me to buy.

When you lose one of the most important people in your life, you cannot appreciate profiting. Any good news is sour. GTFOOH.


What is this all about?
You quoted my message from another thread, without indicating that it was from me. Btw. you could've done that easily. And then you ask a question from that mystery quote. Those that didn't read it in its original place, have no idea what that quote is. So I made it clear that it was my post.

I have yet to inherit anything. At some point, I most likely will. Because my ascendants also worked hard for it and understood the importance of keeping and nurturing wealth in the family, however small it may be. They wanted their offspring to benefit from it once they no longer need it. And I will do the same.
I'm not counting on it and definitely don't need it to ''save'' me. I'm working on passing down (much) more than what is eventually going to be passed down on me.
« Last Edit: December 04, 2022, 04:44:08 pm by Lazio »
우리 밴이 최고야


  • ToilingAjumma
  • Expert Waygook

    • 740

    • September 06, 2022, 09:12:01 pm
    • Anyang
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Re: Are you waiting for an inheritance to save you?
« Reply #6 on: December 04, 2022, 11:24:29 pm »
 I just inherited 9.4 million from my step-grandma a few days ago. It's funny you brought this up. I blew about 600 bucks this weekend taking my friends out for dinner and drinks but the rest of it will go into savings for a future business.
World Famous Youtuber and Beer Expert. Friends with people in high places. If you need help, just ask me. I probably know someone very influential who can help.
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  • SPQR
  • Hero of Waygookistan

    • 1501

    • March 08, 2018, 07:04:54 pm
    • Sierra Leone
Re: Are you waiting for an inheritance to save you?
« Reply #7 on: December 05, 2022, 07:31:14 am »
I just inherited 9.4 million from my step-grandma a few days ago. It's funny you brought this up. I blew about 600 bucks this weekend taking my friends out for dinner and drinks but the rest of it will go into savings for a future business.

9.4 million. I hope your talking won and not bucks.

Blocked: JonVoightCar


  • SPQR
  • Hero of Waygookistan

    • 1501

    • March 08, 2018, 07:04:54 pm
    • Sierra Leone
Re: Are you waiting for an inheritance to save you?
« Reply #8 on: December 05, 2022, 07:36:57 am »
Back in the day, I owned a GT FOOH-EHBOY. The coolest car ever. Yellow with red flames down the sides. Everyone used to say 'Hey Bro, were'd ya get the car. Pretty choice eh!

Anyway, self-absorbed comedy aside, my inheritance bought me a massage chair, a new washing machine, new fridge, my wife took a bit for personal pocket money, and 100,000.000 won went in the bank (the exchange rate took 20%). My kids also inherited the equivalent of 20,000,000 won each. That's the problem when a comfortable middle-class inheritance is split between 6 siblings and 11 grandchildren. Plus, all the non-personal valuables went to art galleries and a museum.

Not exactly a fortune, but none of it was needed, and it was more than expected. It was appreciated though. Strangely enough, I did feel a little guilty as bits and pieces appeared in my bank account. For what reason, I do not know.

Now, I reckon that I've got 20-30 years left, 30 being hopeful. My wife a little longer maybe. Our kids will be left everything we have, with some set aside for grandchildren. Again, my kids already own their apartments. What we leave will just be bonus money...as it should if you plan sensibly.



That's great that they managed to still give a substantial amount even with so
many descendants.

My parents managed to leave nothing. What meagre amount that was left
was snapped up by the local council to pay for a care home.

An inheritance would have been nice. But I have come to terms with the
fact that all I will get is a Korean and Canadian pension plus money I have
accumulated from the real estate boom of the last five years.

The only difference in lifestyle will be my bungalow in Thailand will be
smaller and further away from the beach. Haha

 
Blocked: JonVoightCar


  • ToilingAjumma
  • Expert Waygook

    • 740

    • September 06, 2022, 09:12:01 pm
    • Anyang
    more
Re: Are you waiting for an inheritance to save you?
« Reply #9 on: December 05, 2022, 07:43:21 am »
9.4 million. I hope your talking won and not bucks.
I am. haha
World Famous Youtuber and Beer Expert. Friends with people in high places. If you need help, just ask me. I probably know someone very influential who can help.
Humble as hell and a hurricane in the sheets.
- Kevin C Grabb