Victorian couple slammed for spending kids’ inheritance

A Victorian couple has been labelled “evil” after revealing they had spent more than $170,000 of their son’s inheritance on luxury holidays.

A Victorian couple has been labelled “selfish” after revealing they’re spending tens of thousands of dollars of their children’s inheritance on expensive holidays.

Leanne and Leon Ryland have two sons who won’t see a cent of inheritance, with the couple having spent $170,000 on luxury holidays since they retired.

The wealthy Boomers have so far adventured to Machu Picchu in Peru, India, Sri Lanka and the Maldives.

The wealthy Boomers have so far adventured to Machu Picchu in Peru, India, Sri Lanka and the Maldives. Picture: SBS

The United States are next on their agenda and several other “wonders of the world”, they told SBS Insight on Tuesday night.

They said they are part of a growing trend called “spend your kids’ inheritance (SKI)”, which diverts from the traditional expectation that money is passed down onto future generations.

“We’ve done all the right things by investing in property, boosting up our super, making sure that was healthy, going without a lot of things,” Ms Ryland said.

“We’re not going be able to spend all this money so let’s do it because in another 10 years we won’t be climbing the Great Wall of China. We won’t be going up Machu Picchu.”

The pair joked that the only thing their sons would inherit would be trinkets they bought on their travels.

The pair joked that the only thing their sons would inherit would be trinkets they bought on their travels. Picture: SBS

“I’m trying to convince (my husband) we’ve got to spend now because if we don’t spend it, you know he gets it,” Ms Ryland said, pointing to her son, Alex.

She said Facebook groups with retirees wanting to share ways to spend their kids’ inheritance were becoming increasingly popular.

Their adult son Alex, who was in the TV audience, said he supported their actions.

“It’s their money. They’ve worked hard their entire life and invested well in order to get that money so I think they should be able to do whatever they’d like with it,” he said.

“They’ve raised me to be self-sufficient. I don’t need them for money.”

Their adult son Alex, who was in the TV audience, said he supported the idea. Picture: SBS

Many viewers were quick to brand the couple as “entitled” and “privileged”, while some others supported the mindset.

“SBS Insight tonight is hilarious – boomer privilege at its best and still not conscious of it. So entitled,” one user wrote online.

“Boomers are evil … bragging about overseas holidays with no regard for the environment, spending all their money so their kids have no inheritance,” another wrote.

“It’s not your kids’ inheritance. It’s your money. Spend it. Have fun. You literally earned it,” said another.

Originally published as Victorian couple slammed for spending kids’ inheritance