It’s extremely hard to raise kids in a nice neighborhood without generational wealth

[Anonymous]

Anonymous wrote:Nearly everyone making enough to buy in McLean or Bethesda is 35+ and probably 40+. By then you can barely even have kids. If you’re of actual child bearing age you’re probably too broke to comfortably raise a family. Every couple I’ve known who has a SFH in a good zip code and has kids before 30 in this area comes from a UHNW family and buys a house that is 10-20x their annual salary. How many folks under 35 are actually buying 2-3M houses completely on their own without generational wealth? It’s not zero but pretty damn close.

Yes, it is easier to do things when you've money but instead of resenting your broke parents or neighbor's loaded parents, go make your own money before you've kids so you can buy all the goodies you want for them and leave generational wealth for your grandchildren as well. We all resent privileged people with inheritance of wealth and beauty but as majority, we are the ones who put them on pedestal and copy them.

[Anonymous]

Is the generational wealth canard passé yet? What will be the next excuse of the envious and lazy?

[Anonymous]

We are very happy, safe, and having a good time in our 800k neighborhood in Fairfax county. There are sidewalks, pools, tennis courts, places to walk and ride bikes to. Neighborhood kids are not overly spoiled. Neighbors probably have more pickup trucks than McLean but I see that as a plus.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Where did you get the idea that it was supposed to be easy?

I see

Nice neighborhood are not for everyone

"But I deserve to live there! To be amongst my people!"

And, "everybody else who has done better than me in life benefitted from generational wealth! It's not my fault I don't earn much. It's not my fault I opted for a worthless educational credential. It's not my fault I don't want to work too hard. It's not my fault I had a bunch of kids early in life and can't easily support them. It's not my fault I don't prioritize saving and investing over self-indulgence because, you know, YOLO, etc".

Sounds like the wealth version of George Carlin’s take on drivers. Anyone driving slower than me is an idiot and anyone driving faster is a maniac.

[Anonymous]

Why do you care, OP? The Post just had a great article on large houses and how they aren’t making folks happier. Connection between family members and neighbors does as does spending time together in common areas. I live in Bethesda in a more modest house and we love our neighborhood because of the neighbors, and that’s in spite of the ones either obvious generational wealth.

[Anonymous]

Anonymous wrote:We raised kids in Bethesda, bought over 27 years ago, and now lots of young families are moving in. We discuss it, because we couldn't afford our house today, and we wonder how all these kids can afford the brand new homes popping up throughout our neighborhood. Our guess is mommy and daddy are helping significantly, because none are old enough to make big law partner, or be similarly employed

We do have a lot of family money but also a lot of double doctor or double lawyer families moving in, some with kids, some without. In any case, the feel of our neighborhood is changing. Many more teslas and new luxury cars, not old ones (ha, I do have some self awareness). Everyone new seems a bit showier. I am glad our kids will be out of school before it changes completely.

[Anonymous]

Anonymous wrote:We are very happy, safe, and having a good time in our 800k neighborhood in Fairfax county. There are sidewalks, pools, tennis courts, places to walk and ride bikes to. Neighborhood kids are not overly spoiled. Neighbors probably have more pickup trucks than McLean but I see that as a plus.

Burke!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's possible, we did it. You have to delay kids to your mid to late 30's to give yourself time to save and invest for a house in Mclean. Most younger people are blowing money on stupid stuff like Starbucks, fake nails, tattoos, travel,

meh. We met in college, got married soon after graduation and had two kids by the time
we were 28. Bought our first house at 23 and our 2nd inside the beltway in NOVA by age 26. Combining incomes and having parents who paid for college and cars we had for years for both of us was a huge leg up. We are now 48, careers in full swing near career peak and one kid who has graduated college and well employed and another who is mid college, starting our family early was a big bonus.

Generational wealth

DP. Is it? We are doing that for our kids, on middle class incomes. It isn’t a leg up so much is making sure they aren’t starting out in a deep hole.

[Anonymous]

Anonymous wrote:Is the generational wealth canard passé yet? What will be the next excuse of the envious and lazy?

I used to not even think about it and assumed everyone rich got that way from working. But then I met several actual trust fund babies around here and my perspective changed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is the generational wealth canard passé yet? What will be the next excuse of the envious and lazy?

I used to not even think about it and assumed everyone rich got that way from working. But then I met several actual trust fund babies around here and my perspective changed.

People living on trust funds are very much a minority. You could also point to lottery winners with as much relevance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is the generational wealth canard passé yet? What will be the next excuse of the envious and lazy?

I used to not even think about it and assumed everyone rich got that way from working. But then I met several actual trust fund babies around here and my perspective changed.

People living on trust funds are very much a minority. You could also point to lottery winners with as much relevance.

Yes, but you do have a fair number of people who have family either paying for/contributing to school costs and helping with large downpayments/housing.

[Anonymous]

we had kids at 29 and 31 and started in a townhouse, moved when they were 3 and 5 to a SFH older home and built our dream home when they were 10 and 12. Baby steps!

[Anonymous]

Anonymous wrote:We are very happy, safe, and having a good time in our 800k neighborhood in Fairfax county. There are sidewalks, pools, tennis courts, places to walk and ride bikes to. Neighborhood kids are not overly spoiled. Neighbors probably have more pickup trucks than McLean but I see that as a plus.

West Springfield? Burke?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are very happy, safe, and having a good time in our 800k neighborhood in Fairfax county. There are sidewalks, pools, tennis courts, places to walk and ride bikes to. Neighborhood kids are not overly spoiled. Neighbors probably have more pickup trucks than McLean but I see that as a plus.

West Springfield? Burke?

Fairfax!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is the generational wealth canard passé yet? What will be the next excuse of the envious and lazy?

I used to not even think about it and assumed everyone rich got that way from working. But then I met several actual trust fund babies around here and my perspective changed.

People living on trust funds are very much a minority. You could also point to lottery winners with as much relevance.

There are people without trust funds who simply get tons of money from their parents and rely on them to fund their lifestyle. It’s actually very common because there’s a lot of rich people out there. There are over 2 million American families with 8 figure net worths, if even 10% help their kids you have 200,000 rich kids with huge financial handouts concentrated in major metro areas. It’s probably more like 30-50% are helping their kids and some have way more than 8 figures net worth