Granddad Cheered for 'Cursing' Family by Spending Their Inheritance

The internet has backed a 63-year-old man who has seen backlash from his family for spending money they see as their inheritance.

Taking to the internet to find some takes on his situation, the man explained in a post that can be read here: "What you are about to read is a recent cause of emotional distress for me."

The 63-year-old, using the handle u/guiltygran, explained that: "I took advantage of better times, financially speaking, and managed to get enough money to save, have a good retirement and leave a good inheritance for my children. However, their actions in recent years have broken my heart."

According to 2019-2022 Federal Reserve SCF data, individuals aged 60-64 have an average of $221,451 saved for retirement. Meanwhile, the average inheritance received by individuals in the U.S. between 2016 and 2019 was $46,200.

Having been a smoker for many years, the Reddit poster explained that he may not have many years left—something that had started to cause tension in the family.

"After knowing this, my children began stabbing each other's backs, trying to get their inheritance earlier. Initially there were frequent verbal discussions [and they] escalated to legal battles. The boiling point came when my daughter forged her brother's signature to take their part of the inheritance while I was being treated at the hospital. Now, none of the siblings can see each other in the eye, and only talk through lawyers," he explained.

Saddened by this situation, the poster decided to simply spend the money—thinking that if it is gone, they would have no reason to fight.

"I donated to charities, bought my wife beauty items, went on vacations with her paying for the better-looking hotel rooms, gave my grandkids expensive gifts, bought my dearests friend and colleagues better equipment to improve their work," he explained. "We bought a huge TV, prepaid for my funeral, tasted some fine whiskey, among other things."

With around 65-70 percent of his savings now spent, he explained that he plans to keep the remainder and leave his wife a good amount.

"However, my children are noticing that I'm spending a lot and started to ask questions," he wrote. "My daughter figured out what happened on her own. I had no rebuttals, since I'm guilty of all the accusations she made, but then she mentioned that her children will suffer because of my selfish acts, not only that, but I am cursing all of her grandchildren by doing this."

Sammie Ellard-King, founder of financial advice site Up The Gains, told Newsweek: "With savings dwindling due to the cost-of-living crisis, younger people aren't necessarily going to have much to fall back on when they come to retire. It's always been a constant in families that younger members expect to inherit money later in life, but I expect this pressure to ramp up even further with the current financial situation."

However, the expectation of inheritance and attitude to their father's spending was slammed online, with Redditors rushed to support the man.

"OP, the money is YOURS. You are never under any obligation to leave an inheritance," said one Redditor. "You've saved for it your entire life, and you get to spend it however you wish. No further conversation needed with your kids."

Another Redditor agreed and said: "You don't owe anyone anything."

Others addressed the attitude to inheritance from family. "When will kids learn that they are not entitled to any inheritance? This sense that you are owed money from your parents or grandparents is obscene. If people want to leave awesome to a loved one that's fine, but no one is entitled to it," said one commenter.

Another agreed: "I received a large inheritance. I would give it all back to have my dad again."

But should people be saving money before their death with family members in mind? Ellard-King said balance is best. "A bit of both is a healthy balance. I always strive to make sure my readers know the best saving processes for later in life, but with COVID in the past people are looking to save up to spend big on a once-in-a-lifetime experience more now than they were pre-COVID," he explained.

"Honestly is the best policy when it comes down to money," he added. "Having an adult conversation with them about the reasoning behind it may encourage the children to make sure they're striving to be more financially independent and not have to rely on others."

Newsweek has reached out to u/guiltygran for comment. We were unable to verify the details of this case.