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Best Way for Young Single High Earner to Save for a House


CHIEF

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30 minutes ago, TwiceHorn said:

The other thing about someone with generational wealth.  Unless they are a high-earner (trust fund distributions don't count), they will not be contributing significantly to the community/marital estate.  The one exception is if they make contributions to purchases of major assets like houses.

Marriage doesn't generally grant keys to generational wealth, at least by divorce.

A friend of my Mom's through various hen party organizations was married to a Meadows/Caruth (family that owned most of North Dallas before it developed).  She got divorced relatively late in life and, although she was provided for adequately by voluntary payments of support and a modest property settlement, she took a major step down in lifestyle, because none of the Meadows/Caruth money became part of their marital estate.

Know a lady in the same position. She was divorced, and married a rich widower. All of the generational money is from his deceased wife's family. They live a lavish life, private jet, vacations, expensive jewelry. The way her prenup was set up, she only gets the house they own when he is deceased, or $250k for a house. You can't buy shit with $250k. So we sold them a lakefront home for $750k, as his final home. The thing is, she really doesn't have any retirement savings, so she will probably have to end up selling that home, and move in with her adult daughter and SIL.

CHIEF

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