I find it weird that people on this thread who have received inheritances assumed that many others have too. I'm not sure it's very common in most middle class families.
We have received no inheritance money thus far and don't expect to. My parents have decent pensions but they are blowing through money quicker then they ever did while working and are starting to express concern about their finances. They might have their small house left, and possibly a vacation cottage to split among us three siblings and several cousins.
However, they have given me financial support over the years - paid for most of undergrad costs but for 12K (none toward grad) and my wedding and provided a lot of free child care. That counts for a great deal but it isn't inherited. H received a small inheritance from his grandmother when he was much younger, so that's been gone for years. His parents are living on SS.
Yeah, this was my thought too.
No hate for anyone who gets an inheritance, but it goes to show that there are levels to this, "middle class" thing, and maybe it even serves to put a dent in the whole, "anyone can do it" narrative.
Sometimes people die with some money. It has to go somewhere. I'm sure that most inheritances are small, and hopefully they come very late in life. But I think that sometimes, people don't realize just how far ahead they are. Even MMM.
He describes his situation as, "normal", which is at least more defensible than average. But he talks of things like $10K in tuition assistance from his parents, and borrowing money from his sister to buy a car at 23. Now, it's not that I think that this is a lot of money, mind you, but I think that sometimes, people take for granted, the things that they have access to.
A mental rundown of a comparison between MMM and my girlfriend: At age 23, he had people to borrow money from. At age 19, my girlfriend's dad hit her up for a loan to pay back his (dramatically underfunded) 401k so that he could avoid a penalty. Now, in our late 20s, we are the only household from her immediate family that has any savings, whatsoever. We're buying nieces and nephews (from older siblings) school clothes, giving out gas money so that family members don't miss their work shift and get fired, etc.
She didn't come from a destitute family. Just a low, to middle income family who, like much of America, sucks with money and lived paycheck to paycheck.
This isn't to say, "woe is us" or anything. We're incredibly lucky and on a terrific trajectory. I guess I don't know where I'm going with this, except to say that I think goal setting and teaching and stuff, is probably best done with the subject in mind. You're likeness to Tony Robbins is going to dictate how close to Tony Robbins-like results you can get.