Lifestyle

[Anonymous]

What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

[Anonymous]

I'm fine with it. I tried to equip them with life skills to budget so that they can choose their occupation without as much financial pressure.

[Anonymous]

My kid is seriously involved with a kid from a very poor family (that also has issues, in the rest of the family). Sort of ironic.

[Anonymous]

We've always lived frugally, despite the money lavished on our children's education. I don't think you paused to consider that there might be a difference between living a luxury life in general, and receiving a great education. NOT the same thing.

[Anonymous]

It is rare that a kid’s first job out of college will have a salary high enough to offer him the same luxuries he had at your home (a single apartment, nice car, and high end vacations). If they are bothered by this, poor parent planning.

[Anonymous]

Anonymous wrote:We've always lived frugally, despite the money lavished on our children's education. I don't think you paused to consider that there might be a difference between living a luxury life in general, and receiving a great education. NOT the same thing.

Well said

[Anonymous]

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Sounds like you are the one with the problem that you didn't get the ROI you expected. The purpose of education is not to make money, OP.

There are also many factors. The economy has been SHIT for milennials/young gen x (and the current young adults). They didn't benefit from the dot com era or the real estate boom. They graduated/early careers in a major recession and salaries haven't kept pace. I also assume that your lifestyle grew over the decades. We were dirt poor (on WIC) and now we make 1.5M/year. Our kids were alive during the poor years and benefitted from the good years so far. We have a lot of retirement savings to catch up on from the poor years, but we do as much as we can to help our kids - security deposits, furniture, we do pay for some vacation costs as i love to travel with them, especially now that we aren't in the same house/town.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Sounds like you are the one with the problem that you didn't get the ROI you expected. The purpose of education is not to make money, OP.

There are also many factors. The economy has been SHIT for milennials/young gen x (and the current young adults). They didn't benefit from the dot com era or the real estate boom. They graduated/early careers in a major recession and salaries haven't kept pace. I also assume that your lifestyle grew over the decades. We were dirt poor (on WIC) and now we make 1.5M/year. Our kids were alive during the poor years and benefitted from the good years so far. We have a lot of retirement savings to catch up on from the poor years, but we do as much as we can to help our kids - security deposits, furniture, we do pay for some vacation costs as i love to travel with them, especially now that we aren't in the same house/town.

What time period are you referring? The economy was great from around 2011 - 2019, then again from 2021- present.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Sounds like you are the one with the problem that you didn't get the ROI you expected. The purpose of education is not to make money, OP.

There are also many factors. The economy has been SHIT for milennials/young gen x (and the current young adults). They didn't benefit from the dot com era or the real estate boom. They graduated/early careers in a major recession and salaries haven't kept pace. I also assume that your lifestyle grew over the decades. We were dirt poor (on WIC) and now we make 1.5M/year. Our kids were alive during the poor years and benefitted from the good years so far. We have a lot of retirement savings to catch up on from the poor years, but we do as much as we can to help our kids - security deposits, furniture, we do pay for some vacation costs as i love to travel with them, especially now that we aren't in the same house/town.

This.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Sounds like you are the one with the problem that you didn't get the ROI you expected. The purpose of education is not to make money, OP.

There are also many factors. The economy has been SHIT for milennials/young gen x (and the current young adults). They didn't benefit from the dot com era or the real estate boom. They graduated/early careers in a major recession and salaries haven't kept pace. I also assume that your lifestyle grew over the decades. We were dirt poor (on WIC) and now we make 1.5M/year. Our kids were alive during the poor years and benefitted from the good years so far. We have a lot of retirement savings to catch up on from the poor years, but we do as much as we can to help our kids - security deposits, furniture, we do pay for some vacation costs as i love to travel with them, especially now that we aren't in the same house/town.

If you subsidize then it does bother you?

[Anonymous]

If it bothered me, I would help them achieve it, but only if they wanted it. They don't. I'm so glad that the era of things, second homes, Aspen, and EU vacations is over.
They don't even want to drive. Imagine trying to push a Suburban on them because it's so safe, so safe.

[Anonymous]

Anonymous wrote:If it bothered me, I would help them achieve it, but only if they wanted it. They don't. I'm so glad that the era of things, second homes, Aspen, and EU vacations is over.
They don't even want to drive. Imagine trying to push a Suburban on them because it's so safe, so safe.

This Again.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We've always lived frugally, despite the money lavished on our children's education. I don't think you paused to consider that there might be a difference between living a luxury life in general, and receiving a great education. NOT the same thing.

Well said

Said by a person who probably lives in a >$750,000 home with 2 cars that are both less than 10 years old who takes at least 2 vacations per year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Sounds like you are the one with the problem that you didn't get the ROI you expected. The purpose of education is not to make money, OP.

There are also many factors. The economy has been SHIT for milennials/young gen x (and the current young adults). They didn't benefit from the dot com era or the real estate boom. They graduated/early careers in a major recession and salaries haven't kept pace. I also assume that your lifestyle grew over the decades. We were dirt poor (on WIC) and now we make 1.5M/year. Our kids were alive during the poor years and benefitted from the good years so far. We have a lot of retirement savings to catch up on from the poor years, but we do as much as we can to help our kids - security deposits, furniture, we do pay for some vacation costs as i love to travel with them, especially now that we aren't in the same house/town.

If you subsidize then it does bother you?

No, it doesn't bother me....I just want to spend time with them and give them a helpful start in the beginning of their lives. If they asked that I stop and that would mean a smaller apartment or fewer vacations, then I would respect that and meet them where they are financially (visit them instead of vacationing etc). They're still mid 20s, so maybe my opinion will change at some point. As of right now, none of it bothers any of us.

[Anonymous]

No, they are doing fine. They have no student loan debt, good jobs, and thus plenty of disposable income. It's up to them to figure the rest out. I don't see them getting married and buying a home before 30; they seem pretty content living a 20-something lifestyle with no responsibilities outside of work.