Why do so many of you NW adults have Trust Funds or get parental help?

[Anonymous]

It helps to move somewhere more low key where the norm is not parental help. People around us are like us: many first gen, mostly poor background to MC background, working in solid jobs requiring advanced degrees. I don't begrudge people for having help but life is easier when surrounded by people with similar finances.

[Anonymous]

You may not like it people, but how do you think families preserve their wealth once they have given their desired amounts to charity?

Option 1: Act within the tax laws to gift allowable amounts to children and heirs. Get joy in helping their family.

Option 2: Give it all to the government.

I have taken Option 1. Especially laughable to think of giving more to the government in light of the current s-show.

[Anonymous]

Anonymous wrote:You may not like it people, but how do you think families preserve their wealth once they have given their desired amounts to charity?

Option 1: Act within the tax laws to gift allowable amounts to children and heirs. Get joy in helping their family.

Option 2: Give it all to the government.

I have taken Option 1. Especially laughable to think of giving more to the government in light of the current s-show.

This poster just means it makes it harder for people without family help, which is true. You can't compete with a 20 something couple getting hundreds of thousands in cash when you are a regular person who needs a mortgage. But obviously this is what rich people do. There's no changing it or arguing that you should "give it all to the government".

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My parents are giving us the maximum allowed gift amount per year, as a way to pass along the wealth to the kids and grandkids before their deaths so the estate tax will not take as much of it then. It was what they wanted, and it is helping us pay down our mortgage on a regular middle class house, and I have to say it did not occur to us to say no to them for philosophical reasons as some people here are suggesting. Furthermore, we will be happy to help take care of them financially in their old age if they need it. In fact, we already help take care of my in-laws. Families share money, that's the deal, at least for us.

fail at being an adult

Are SAHM's adults, by your definition? We're talking about earning money to be self-sufficient, and not depending on another, regardless of their willingness to give/share that money. Correct ?

They are dependents unless they have their own money.

[Anonymous]

Anonymous wrote:You may not like it people, but how do you think families preserve their wealth once they have given their desired amounts to charity?

Option 1: Act within the tax laws to gift allowable amounts to children and heirs. Get joy in helping their family.

Option 2: Give it all to the government.

I have taken Option 1. Especially laughable to think of giving more to the government in light of the current s-show.

I hate people who have huge houses just because daddy gave them a huge amount of unearned $$$.