The amount of people living subsidized by their parents is astounding

[Anonymous]

Anonymous wrote: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.

You do you. However, if you're one of those working a low paying job and flexing about how easy it is to buy a $1.5M house, and that anyone who can't afford at least that is a loser, that's when you've lost me. Unfortunately, I've met many people like that. I only consider a few friends. The rest are unbearable, entitled children.

[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?

Family with generational wealth continues to be wealthy. News at 11 folks.

[Anonymous]

Anonymous wrote:

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

You're bitter at your terrible lot in life not having any family gifts or inheritance. We get it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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

You're bitter at your terrible lot in life not having any family gifts or inheritance. We get it.

Good Lord, you can’t even troll properly and you expect us to believe you work hard and/or are intelligent?

[Anonymous]

Anonymous wrote:

Anonymous wrote: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.

You do you. However, if you're one of those working a low paying job and flexing about how easy it is to buy a $1.5M house, and that anyone who can't afford at least that is a loser, that's when you've lost me. Unfortunately, I've met many people like that. I only consider a few friends. The rest are unbearable, entitled children.

Yes this is the issue I have as well. They also have no concept that it's possible to live anywhere other than between 66 and 270.

[Anonymous]

Anonymous wrote:

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

You seriously have issues. So a 26 yo is who has had a job since college graduation with a good company and is in the top 25% of employees is "not working hard"? Fact is most kids who grow up UMC+ do work hard.

[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.

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.

So you are rewarding your kid who doesn't work hard. I'm 100% certain the "good kid" could benefit from a car or the same help you give the other kid. Except they would most likely actually save and live within their means and still work hard to excel in their career.

I had parents like you (but we were lower mC). In Ms/hs my sibling got replacement things when they were the idiot who broke them/lost them. I as the responsible kid got "we can't afford that". I actually told my parents " so I should just destroy things in acts of stupidity and you will replace them". This was regarding needing new glasses. Sibling got new once because they drove off with them on roof of car in act of stupidity

[Anonymous]

Anonymous wrote: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.

We grew up middle class so envied this privilege and now feel good to give a bit of it to our kids as much as we can afford by avoiding luxury for ourselves.

[Anonymous]

Anonymous wrote: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.

You can convince them to enjoy the luxuries they never had in their last decade.

[Anonymous]

Well I hope these family freeloaders are generous to the people in the service industry that have to cut their nails, serve their food, and clean up behind them.

[Anonymous]

Anonymous wrote:Well I hope these family freeloaders are generous to the people in the service industry that have to cut their nails, serve their food, and clean up behind them.

what does that have to do with keeping the money in the family? paying for private school or grabbing the bill keeps service industry employed!

[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.

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.

You do the same for both and don't play favorites.

[Anonymous]

This is the issue, people are jealous of their friends for small privileges of getting a car or downpayment from their hard working frugal parents instead of questioning privileges of billionaires, politicians and oligarchs.

[Anonymous]

Anonymous wrote:

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.

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.

So you are rewarding your kid who doesn't work hard. I'm 100% certain the "good kid" could benefit from a car or the same help you give the other kid. Except they would most likely actually save and live within their means and still work hard to excel in their career.

I had parents like you (but we were lower mC). In Ms/hs my sibling got replacement things when they were the idiot who broke them/lost them. I as the responsible kid got "we can't afford that". I actually told my parents " so I should just destroy things in acts of stupidity and you will replace them". This was regarding needing new glasses. Sibling got new once because they drove off with them on roof of car in act of stupidity

\

Yes - but my parents would tell me they didn't raise me to be so selfish and they aren't going to have the grandkids suffer for the sake of equality and money isn't endless

[Anonymous]

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.

Millennials do all the time and see nothing wrong with it.

DP millennials are 35-40 years old. If they are living off the parents dole, then they are losers.