The amount of people living subsidized by their parents is astounding

[Anonymous]

And PP above but I do not share any of this information. My ILs know only that I got a windfall from my grandparents one time (to buy the house) but are generally disinterested in anything pertaining to my family of origin.

Behind the scenes, my inheritance means no college loans, a new ! used car, a home renovation, more travel and best of all, I quit my awful part time job.

[Anonymous]

Anonymous wrote:

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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

Being so "selfish"? Wanting a new pair of glasses after 4 years isn't selfish. However when your sibling leaves theirs on the roof of a car and drives off and then gets new ones after less than 1 year, well yea that is bad. Don't reward stupidity--this was just one of many things the stupid sibling did.

[Anonymous]

Anonymous wrote:

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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.

Nobody who sits at a desk all day works hard. I’m sure they sit at that desk for many hours every day, but long hours =/= hard work. The mere fact that you think these cushy UMC desk jockey jobs are so arduous is evidence of your extreme (unearned) privilege. Thanks for proving my point.

If you don't want to do "physical labor" then you need to plan. But yes a desk job is good work. It's what happens when you get a college education most of the time.

[Anonymous]

Anonymous wrote:

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.

They’re almost certainly not. They view these people as fundamentally beneath them - because they have convinced themselves that, as the beneficiaries of generational wealth, they’re God’s chosen people and everyone else is a lesser being who exists to serve them.

I have seen this attitude in this area (and on this site) more times than I can count.

Not entirely true. I always tip extremely well (25-30%). During covid I paid my mani/pedi person every 2 months--I just dropped off $200. I paid my house cleaners for 15 months and never had them come to my house.

[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.

Exactly.
They can’t take it with them and want to see us enjoy it.
We will do the same for our kids.[/quote

]

+1000

Exactly why we do it! Better to gift while it benefits most and we get to see them enjoy it. We are self made, and kids are greatful and not spoiled. But life is easier without college loans and knowing their kids education will be taken care of

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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 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.

Nobody who sits at a desk all day works hard. I’m sure they sit at that desk for many hours every day, but long hours =/= hard work. The mere fact that you think these cushy UMC desk jockey jobs are so arduous is evidence of your extreme (unearned) privilege. Thanks for proving my point.

If you don't want to do "physical labor" then you need to plan. But yes a desk job is good work. It's what happens when you get a college education most of the time.

Yes and that education (that your mommy and daddy or your trust fund paid for) that allows you to sit on your ass all day doing some bullshit job (while being paid obscene amounts of money) while the little people are *actually* doing the *actual* hard work that enables our society to function is part of your unearned privilege.

I don’t blame you for wanting the same for your children, it’s obviously an incredibly easy life, but I do want you to stop pretending you’re superior because you work so hard and planned so well. You don’t, and you didn’t. You were born on third base, just own it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

They’re almost certainly not. They view these people as fundamentally beneath them - because they have convinced themselves that, as the beneficiaries of generational wealth, they’re God’s chosen people and everyone else is a lesser being who exists to serve them.

I have seen this attitude in this area (and on this site) more times than I can count.

You sound so bitter. First of all, besides restaurants -where I tip generously - I don’t even use any services often. I haven’t had a manicure since 2019. I am extremely grateful for the advantages my family has given me in life. My father worked a grueling career in big law. And while that’s not exactly the same as being an illegal immigrant working on a farm, he made a lot of sacrifices including time with his family, to provide financial security. His own father was an immigrant who came here as a teenager with nothing and took tremendous risks to achieve professionally. Some of us who are beneficiaries of generational wealth are not only grateful, but are generous, modest, hardworking and are nice people. But maybe that doesn’t fit your perception.

My God, the never ending “stolen valor” with you people… but my gRaNdFaThEr was an iMmIgRaNt!!!

What have YOU ever done? Nothing. So keep spending grandpa’s money (gratefully, of course, you angel on earth) and keep your judgement of the bitter, little people to yourself.

Ironically, you seem to view yourself as the gift to the world here because of the standard of living YOU were born into. Projection 101…

This comeback is nonsensical. Maybe ask for some help from Gramps if he’s still around.

[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.

Exactly.
They can’t take it with them and want to see us enjoy it.
We will do the same for our kids.

I don’t have a problem with this. Everyone does what they’re able to do. My DH and I have made it on our own, and we do enjoy that extra little piece of self satisfaction that we were able to do so. That is the main privilege of being financially independent.

[Anonymous]

Anonymous wrote:OP, its none of your business what other people do for their kids. If it bothers you so much, ear, save and invest more and give your kids zero $.

The way society functions affects us all, and is therefore everyone’s business. When you gift your children townhouses in major metropolitan areas to use as rental properties, for example, you’re not JUST helping YOUR kids… you’re contributing to the f—king housing shortage that makes life for difficult for everyone else’s kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, its none of your business what other people do for their kids. If it bothers you so much, ear, save and invest more and give your kids zero $.

The way society functions affects us all, and is therefore everyone’s business. When you gift your children townhouses in major metropolitan areas to use as rental properties, for example, you’re not JUST helping YOUR kids… you’re contributing to the f—king housing shortage that makes life for difficult for everyone else’s kids.

Stop whining. You sound like a whiny little b. Nobody owes you anything. Focus on having some gratitude. Go live on a commune. Or at least get some Prozac. You sound like a misery,

[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.

this is so bizarre to me. I have kids in private school that cost over 40k/yr so our social circle is full of wealthy people. Never once have i had a conversation about income and where it comes from. How do you get the intimate details of people finances? In my circles this is just not something that is discussed:

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, its none of your business what other people do for their kids. If it bothers you so much, ear, save and invest more and give your kids zero $.

The way society functions affects us all, and is therefore everyone’s business. When you gift your children townhouses in major metropolitan areas to use as rental properties, for example, you’re not JUST helping YOUR kids… you’re contributing to the f—king housing shortage that makes life for difficult for everyone else’s kids.

how is a rental property no matter how it’s sourced contributing to the housing shortage? Are you suggesting that said rental property sits vacant?

[Anonymous]

I waste a lot of my inheritance on horses, that way it goes back into the economy for people who deserve it. And I love horses!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, its none of your business what other people do for their kids. If it bothers you so much, ear, save and invest more and give your kids zero $.

The way society functions affects us all, and is therefore everyone’s business. When you gift your children townhouses in major metropolitan areas to use as rental properties, for example, you’re not JUST helping YOUR kids… you’re contributing to the f—king housing shortage that makes life for difficult for everyone else’s kids.

how is a rental property no matter how it’s sourced contributing to the housing shortage? Are you suggesting that said rental property sits vacant?

Yes according to PP's logic, rich people are burdening vacant lots to their children so that it stays empty- leading to extra costs for their children to upkeep it and fewer lots for homes.

[Anonymous]

Anonymous wrote:

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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.

If you're making $2m per year and your letting your retired parents clocking $80k a year in retirement pay for your kids' private school education, you are a f4cking loser. Hope I'm crystal clear.

thanks, my parents have 10m in assets and i have loans and a house that has a mortgage balance of 50%. We are henry millennials that recently started getting this high income. either way sorry we are not all old genx/boomers like yourself. At least my boomer parents want to help.

You’re a brat. I agree with PP. it’s gross.