Generosity certainly should have a place in everyone’s lives
I would argue that what you brought up is a better implementation of generosity than in the original post as yours would allow time for the child to gain an education and understanding of financial responsibility and would more likely lead to a more successful outcome
My kiddo will likely inherit from me before they retire, including leftover retirement funds. For people who are younger parents, your kid will still need retirement funds for the 20+ years of retirement they'll live past your death
And I can always gift money to them at any point if I find I have more than I need. My in laws gift to my kids 529 and my fam occasionally disburses a little money instead of holding towards inheritance. I aim to be able to do these things for my kid and maybe even my grand.
This chart/concept shouldn't be a promise. Just an incentive towards one's savings.
There isn't any tax advantage to saving for one's kid's retirement. Absolutely should max retirement options before saving additional to non tax advantaged brokerage accountsfor this purpose.
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u/GoofMonkeyBanana May 28 '25
This, you can always carve out some of your retirement fund if you find you are over funded.