Forum Index
»
Money and Finances
The amount of people living subsidized by their parents is astounding
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
| Almost everywhere I go I meet people from wealthy families with lifestyles that wouldn’t be possible on their incomes alone. These are people who I run into completely randomly not from existing social or institutional connections which increases the perception that they’re everywhere. It’s super frustrating not coming from a family like this when you’re surrounded by so much generational wealth and privilege. |
Anonymous
|
OP, there is always one generation that works very, very hard and then they create the generational wealth for their children.
You should strive to be that generation and provide for your children and future generation. We are immigrants who came with $200 in this country. We lived a life of penury for several years and we worked very hard. Our children will get a leg-up in life from us. Their life will be easier than ours. Hopefully, they have imbibed good values from us and they will add to the generational wealth and they will also raise their kids well. Education and hard work are the keys. |
Anonymous
| Just in the last 2 years we made 1m/year and my parents who make 80k/year on retirement have full medical benefits but have everything fully paid off want to pay for private school and I am ok with it because they don't have any other use for their money. If they end of running out of money i would help them. However their generation is very different than our's where they don't have any debts. |
Anonymous
| Some just bought crypto at the right time. Surely. Consider when most of the new mcmoderns started popping up everywhere. Not a coincidence. |
Anonymous
If you're making $2m per year and your letting your retired parents clocking $80k a year in retirement pay for your kids' private school education, you are a f4cking loser. Hope I'm crystal clear. |
Anonymous
thanks, my parents have 10m in assets and i have loans and a house that has a mortgage balance of 50%. We are henry millennials that recently started getting this high income. either way sorry we are not all old genx/boomers like yourself. At least my boomer parents want to help. |
Anonymous
| I'm over 50 and have never met anyone like this. What kind of loser would accept money from parents/family? It's not that hard to just get a job and pay your bills in the US, assuming you didn't have kids before finishing college. |
Anonymous
I’ve met about a dozen people in the past year or two who fit this profile, mostly in the Bethesda/Arlington area. Last guy lived in a $1.7M house on a single government income and had a country club membership. Mid 30’s with SAHM wife and kids who attended private. |
Anonymous
|
I’m one of those people – my parents gift me the $36,000 max every year. Why do you care?
Everyone’s dealt a different hand in life. I have that annual gift but had issues with mental health in the past which mean that I’ll never work the type of jobs that pay more than $100-$150K per year. |
Anonymous
|
With kids in this area in places like Del Ray and Arl I'm not sure you can make it without help. You people who don't have kids living around here have no idea. Move you say. Well if my parents are willing to help my family happy around here esp because the kids are, I'm gonna accept it.
We all have different crossed to bear in life- the money doesn't make us happier or have more friends or be healthier - but it is a lucky break because we can actually live. You may have something we wish for. In my neighborhood there is no SFH less than $1M. Really less than $1.5M. With kids, it's so much more to shell out do understand that the help is very much needed. |
Anonymous
|
My kids are still in high school but we plan to do what we can to help them. They will get our money someday, so why not give it to them early, when they may need it more? Why is it wrong to pay for my grandkids to do to great schools and great summer camps?
I see each generation’s responsibility as doing better than the last. |
Anonymous
| It's very common in DC. We have a lot of friends who have similar incomes to us (we went to grad school together, work at the same or similar places, similar career trajectories) but they live in much bigger or nicer homes, send their kids to private, and vacation in much nicer, more exotic locations. It's all family money -- parents gifting hundreds of thousands for down payments, paying directly for school tuition, and "hosting" family vacations to the South Pacific, Europe, etc. Because their parents aren't literally paying their bills or mortgage or just giving them money for travel, they don't really think if it as being "supported" by parents. They don't realize how much more they'd need to budget if their parents weren't paying for all this. It's invisible to them. |
Anonymous
Millennials do all the time and see nothing wrong with it. |
Anonymous
| Parents/Grandparents are paying for things because they cannot spend their money in their lifetime. Paying for schools for grandchildren is one way to pass down wealth without paying the tax. |
Anonymous
Me! It definitely didn’t come from one generation who worked very hard, it came from people a handful of people across a few generations who worked hard. Two were exceptionally smart and one of those was exceptionally lucky. None of them were my parents. I get money from my parents, but I also get it from trusts and inheritance from my grandparents. Sure, I could live on my own earnings but I feel no moral imperative to do so. I am of course fine with anyone who does doing that! |