The amount of people living subsidized by their parents is astounding

[Anonymous]

Meh, this is not so interesting. Our HHI is about $1 million thanks to our own high-salaried careers and we receive maybe about $100k in "subsidies" from wealthy parents who want to chip in with things like family trips and educational costs for our children. The parents are elderly and wealthy, and WANT to do these things because they were done for them and means a lot to them. We don't "need" it but it is a nice to have and enriches everyone's lives. What's the big deal?

[Anonymous]

Anonymous wrote:This thread is why America is cheering Musk burning DC to the ground.

Except those people aren’t govt workers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

That’s how generational wealth works. Stay mad.

Not mad at all, I'm actually quite fond of generational wealth

Maybe it's just me, but receiving money from someone who had passed away in the form of a trust seems a lot different than Mommy giving a grown adult 50k for a new car or private school for the kids.

It's just you. The money was intended for their children and grandchildren. Might as well give it to them when you can see them benefit.

People who are strong and self sufficient are at least going to feel weird about accepting money from their aging parents. I don't think I would accept it, but I also don't need the money so it's easy for me to say. Sounds like you are doing it for yourself though.

Our kids are self sufficient and live within their means. But we paid for college, for all tutoring/sports/extras needed during hs. We also help them set up first apartment.

Why wouldn't we? We are uhnw and will be leaving tons if we don't gift it now. We can preserve this generational wealth for 3-4 generations or more if everyone is smart about it. And everyone will be required to have a job or be a shap--no just lounging around being lazy

[Anonymous]

My parents helped me and our family throughout the years. My dad kept it quiet but I found out after he died that his parents bought him a car and a house when they got married and probably contributed in other ways. My husband's parents offered us nothing (and they could have) and he sees how nice it's been for me, for kim and for our kids to have had help and so we want to do the same for our kids. I don't have an issue with this but a lot of people resent others who have help from their parents which I can understand. I do not tell people or advertise this to others. I don't understand not sharing with your kids if you can.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Our kid has a job. A good one, and they live within their means. Which means they can afford their rent and all bills and still save for retirement. However, we are wealthy, so we have already started gifting them each year. Why? Because they have been maxing their IRA since they had income and now max both the IRA and 401K. We are wealthy enough that the Estate Tax will be an issue (and it will be an issue at the state level at just $2M).
But our philosophy is to give the money now where it makes a difference. So they have their education fully paid for, given a car at graduation, and they save all that we gift them in retirement or for a "first home" They know we will fund any future grandkids education as well.

But you are not a looser for using your family $$ to better your lifestyle. As long as our kids have a good job and are not living large we will continue to gift them

My family is the reverse. The kids with the good jobs don’t get help. The kids who struggle do.

Well that does not seem fair or productive. Why punish the ones who are applying themselves

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's irresponsible not to gift the max amount to your kids if you have that wealth or generational wealth. We max out our children each year.

The gift amount for 2025 is now $19,000 per parent, so $38k per child.

+1

And once married you gift the spouse as well. Best way to transfer wealth while it truly matters

Why gift the spouse? At most I’d gift my kids and grandkids.

Because when you are uhnw, you want to give away as much as possible yearly to your kids and their families. If they are happily married it's going to the entire family---it's not being set aside just for our kids spousss to have fun

Oh and we trust our kids to choose good partners

[Anonymous]

Anonymous wrote:

Anonymous wrote: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.

This! I am an immigrant, who came to this country with no assets. I work hard, so that my children will have it easier in life.

But then your children will NOT have to work hard to provide for their children, so the statement “education and hard work are the keys” is false. Lots of people work hard. Lots of people are well educated. Trust fund kids are LUCKY. The end.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

That’s how generational wealth works. Stay mad.

Not mad at all, I'm actually quite fond of generational wealth

Maybe it's just me, but receiving money from someone who had passed away in the form of a trust seems a lot different than Mommy giving a grown adult 50k for a new car or private school for the kids.

Why?!?!?



It's much more useful to get it in your 20/30s than whe. You are 50+ and kids are thru college

The challenge is that it seems like many young people are supplemented to the point where they are living beyond their means. Then they either become entitled or totally unable to handle it if circumstances change and the money dries up.

So don't do it if your kids are entitled. Our are not. They appreciate what we give, and save 95% of it

They live within their means and are smart about finances. They appreciate the family vacations and there are no strings attached because we have a normal family

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

This! I am an immigrant, who came to this country with no assets. I work hard, so that my children will have it easier in life.

But then your children will NOT have to work hard to provide for their children, so the statement “education and hard work are the keys” is false. Lots of people work hard. Lots of people are well educated. Trust fund kids are LUCKY. The end.

They may be lucky but it doesn't mean they don't work hard. Vast majority of them do. And yes there will always be someone "luckier than you" unless your last name is gates/bezos/musk

[Anonymous]

Anonymous wrote:Meh, this is not so interesting. Our HHI is about $1 million thanks to our own high-salaried careers and we receive maybe about $100k in "subsidies" from wealthy parents who want to chip in with things like family trips and educational costs for our children. The parents are elderly and wealthy, and WANT to do these things because they were done for them and means a lot to them. We don't "need" it but it is a nice to have and enriches everyone's lives. What's the big deal?

The average American family doesn’t EARN 100K a year you douchebag.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Meh, this is not so interesting. Our HHI is about $1 million thanks to our own high-salaried careers and we receive maybe about $100k in "subsidies" from wealthy parents who want to chip in with things like family trips and educational costs for our children. The parents are elderly and wealthy, and WANT to do these things because they were done for them and means a lot to them. We don't "need" it but it is a nice to have and enriches everyone's lives. What's the big deal?

The average American family doesn’t EARN 100K a year you douchebag.

The average American family is poor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

This! I am an immigrant, who came to this country with no assets. I work hard, so that my children will have it easier in life.

But then your children will NOT have to work hard to provide for their children, so the statement “education and hard work are the keys” is false. Lots of people work hard. Lots of people are well educated. Trust fund kids are LUCKY. The end.

They may be lucky but it doesn't mean they don't work hard. Vast majority of them do. And yes there will always be someone "luckier than you" unless your last name is gates/bezos/musk

They don’t. The evidence is littered all over this thread. Most of you have never done a hard day’s work in your lives, and your precious snowflakes wouldn’t know hard work if it bit them in the ass.

People bristle against this modern day landed gentry because it’s fundamentally unAmerican. Although I guess we’re trending that way, so keep patting yourself on the back and pretending that you (and your spawn) are simply more deserving of the good life because you’re the only ones who work hard

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Meh, this is not so interesting. Our HHI is about $1 million thanks to our own high-salaried careers and we receive maybe about $100k in "subsidies" from wealthy parents who want to chip in with things like family trips and educational costs for our children. The parents are elderly and wealthy, and WANT to do these things because they were done for them and means a lot to them. We don't "need" it but it is a nice to have and enriches everyone's lives. What's the big deal?

The average American family doesn’t EARN 100K a year you douchebag.

The average American family is poor.

Which means there's also not a lot of people that are being supported by their parents either.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Our kid has a job. A good one, and they live within their means. Which means they can afford their rent and all bills and still save for retirement. However, we are wealthy, so we have already started gifting them each year. Why? Because they have been maxing their IRA since they had income and now max both the IRA and 401K. We are wealthy enough that the Estate Tax will be an issue (and it will be an issue at the state level at just $2M).
But our philosophy is to give the money now where it makes a difference. So they have their education fully paid for, given a car at graduation, and they save all that we gift them in retirement or for a "first home" They know we will fund any future grandkids education as well.

But you are not a looser for using your family $$ to better your lifestyle. As long as our kids have a good job and are not living large we will continue to gift them

My family is the reverse. The kids with the good jobs don’t get help. The kids who struggle do.

Well that does not seem fair or productive. Why punish the ones who are applying themselves

Kid A with the high paying job doesn't need it, and Kid B with a lower paying job does. Getting a car doesn't change anything for Kid A but makes a huge difference for Kid B. Same with daycare.

[Anonymous]

I didn't make the money and neither did my parents and neither did the grandparent who left it to us. It was just a right place, right time investment a long time ago, a lot of other people's hard work, and a lot of luck.

That's the thing about business ownership. It's not based on your hard work at all! It can be, if you also run the business, but it doesn't have to be.

If my parents had earned the money through merit, maybe we would all feel differently about it. I don't know.

We're like if Ewan from Succession was really chill about everything and nice to cousin Greg AND Greenpeace.