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The S.K.I.N. Club

Embracing Life by Spending the Kids' Inheritance Now

Image of happy couple drinking champagne on yacht with caption S.K.I.N. Club Members celebrate life

Photo of senior husband and wife enjoying their travel adventureIntroduction

In past articles, we have explored at length the topic of “How to Future-Proof Your Family Dynasty“.

HOWEVER, not everyone is of the same mindset as those who were specifically addressed in those same articles. In fact, what we are about to address here is a completely different way of thinking – one that actually flies in the face of issues promoted previously. That is . . .

Retirement has traditionally been seen as a time to relax, spend time with family, and enjoy the fruits of one’s labour. However, there is a growing movement of retirees who are embracing a different approach: spending their kids’ inheritance now, also known as the S.K.I.N. Club. Our previous post “Waiting for Your Inheritance? Good Luck with That!” sheds further light on this topic.

Back to the here and now. In what follows, we shall explore what the S.K.I.N. Club is all about and why it might be worth considering for those entering retirement.

The S.K.I.N. Club: What is it?

The S.K.I.N. Club stands for “Spending the Kids’ Inheritance Now” and is a growing group and to some extent I guess – a bit exclusive. I say “exclusive” purely because not everyone has the financial capacity to ‘join the club’ even if they wanted to.

You’ll see from the following that the words “priority”, “prioritize” and “prioritization” are in frequent use – with good reason. You see, more often than not, everyone and everything else has been the priority focus of these folk – their whole lives. Their kids, grandkids, jobs, businesses,  parents and so on. Now it’s their turn – their time to enjoy what they have worked so hard for!

S.K.I.N. Club members enjoying Italian holidayEmbracing a motto of “carpe diem” (Seize the Day), members actively plan to spend their accumulated wealth, often built over a lifetime of hard work. It is a mindset and a lifestyle choice adopted by some retirees who prioritise living life to the fullest in the present moment, instead of leaving it as an inheritance for their children or other beneficiaries. The key principle behind the club is the idea that memories and experiences hold far greater value than material possessions.

By taking extravagant trips, pursuing adventurous hobbies, or indulging in luxuries they’ve always desired, the S.K.I.N. Club members challenge societal expectations of what one should do with their savings in retirement.

Rationale Behind the S.K.I.N. Club

Cheerful-S.K.I.N.-Club-members-enjoying-a-weekend-getawayLife is meant to be lived: Adopting the S.K.I.N. Club mindset recognises that life is meant to be enjoyed, and waiting for retirement to fully embrace it might be too late. By spending their savings now, retirees can have the opportunity to experience and enjoy life to its fullest.

Prioritising experiences over possessions: The S.K.I.N. Club is about prioritising experiences over material possessions. Rather than accumulating wealth to pass on, retirees are choosing to spend their money on creating memories through travel, hobbies, and adventures.

Uncertain future: The future is always uncertain, and nobody knows what lies ahead. Retirees who choose to join the S.K.I.N. Club are conscious that unexpected events might prevent their children from benefiting from a hefty inheritance. By spending the money now, they are ensuring that they get to enjoy it while they can.

Redefining legacy: In the past, leaving behind a substantial inheritance was seen as the ultimate legacy. However, the S.K.I.N. Club challenges this notion by suggesting that the real legacy resides in the memories, values, and experiences shared with loved ones during one’s lifetime.

Benefits of Joining the S.K.I.N. Club

Enhanced quality of life: Retirees who choose to join the S.K.I.N. Club report an increased overall satisfaction with life. By prioritizing experiences and freedom over wealth accumulation, they are able to enjoy their golden years to the fullest.

S.K.I.N. Club family holiday at the beachStrengthened relationships: By spending time and money on experiences with loved ones, the S.K.I.N. Club allows retirees to nurture and strengthen relationships. Shared memories and adventures create deeper bonds and foster a sense of connection among family members.

Personal growth: The S.K.I.N. Club pushes retirees out of their comfort zones, encouraging personal growth and self-discovery. Trying new activities, pursuing passions, and stepping outside of routine can lead to a renewed sense of purpose and fulfilment.

Reduced financial stress: Many retirees worry about leaving behind enough money for their children or covering unexpected expenses. By spending the kids’ inheritance now, retirees can alleviate some of this financial stress and live more freely in the present.

Embracing the present moment: Joining the S.K.I.N. Club means fully embracing the present moment and living life to the fullest. Retirees can savour every experience, appreciate their surroundings, and find joy in the simple pleasures that life has to offer.

Critics, Controversies, Considerations and Challenges

Naturally, the concept of deliberately spending inheritance has generated mixed reactions.

Critics argue that leaving a financial legacy is an essential act of love and support for future generations. They highlight the potential benefits of using inherited wealth to secure a better future, such as funding education for grandchildren or investments that could create intergenerational wealth.

Detractors may also argue that being frivolous with financial resources can be seen as selfish, as it disregards the potential long-term difficulties faced by offspring.

Nevertheless, supporters of the S.K.I.N. Club argue that this lifestyle choice is not an act of selfishness but rather an expression of taking control over one’s own life. They believe it offers a newfound freedom to enjoy retirement without restrictions, the ability to share experiences with loved ones while they are still present, and the opportunity to inspire family members to embrace a similar philosophy of cherishing moments over material possessions.


Family dynamics: Joining the S.K.I.N. Club might not be well-received by all family members. Some children or loved ones could have expectations of receiving a significant inheritance, and the decision to spend it now may create tension or disappointment. Open communication and understanding among family members are crucial.

My personal opinion is that if you are a potential beneficiary and feeling peeved at decisions by your forebears to spend some of their hard-earned wealth on themselves and on their dreams, then GET OVER IT!

After all, it’s their right to make the decisions regarding their estates and therefore must always take priority over any perceived ‘entitlement’ you may feel!

My recommendation is to, rather than rely on an inheritance, do what they did. Become financially literate in your own right, learn about entrepreneurship as well as learning about what made your parents successful and perhaps adopt some of their ways in this regard.


Responsible spending: While the S.K.I.N. Club encourages retirees to enjoy their savings, it is important to find a balance between indulgence and responsible financial planning. Ensuring that basic needs, healthcare costs, and contingency funds are covered is essential when making decisions about spending.

Long-term care and health expenses: Retirees need to consider the potential costs of long-term care and health expenses that might arise in the future. It is important to have a plan in place to cover these unexpected costs while still being able to enjoy life to the fullest. Therefore, it is essential for S.K.I.N. Club members to make informed decisions about their spending habits.

Responsible financial planning is vital to ensure a comfortable retirement and consider any potential healthcare or long-term care expenses that may arise later in life. We encourage its members to strike a balance between enjoying their wealth while safeguarding their own future needs.


The S.K.I.N. Club challenges traditional notions of inheritance and encourages retirees to embrace life by spending their savings now. By prioritizing experiences, personal growth, and relationships, retirees can find fulfilment and joy in their golden years. While not everyone may be on board with this mindset, it is ultimately a personal choice. The S.K.I.N. Club offers a unique approach to retirement, allowing individuals to create a legacy of memories and embrace the present moment.

So, why wait? Let’s start spending the kids’ inheritance now and make the most out of life!

How FBA Can Help You With Your S.K.I.N. Club Objectives

At Family Business Advisory (FBA), our purpose is to help family businesses succeed on a sustainable basis. As such, we provide you with access to specialist family, business and technical services with a goal being to generate opportunities for families in business.

In order to complement our own particular specialised skills, over the past several decades, we have developed a network of trusted, professional advisers in such areas as:

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Moreover, we work at all times to give you peace of mind and proactive support to help navigate any changes in the market brought about by legislative changes, geopolitical events and general market conditions – all to maximise your personal wealth and security.

These services are provided by FBA, in association with the Wealth IQ Group.

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