The amount of people living subsidized by their parents is astounding

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

Well, that's the point. These kids won't have any assets and resources to flow to their own kids because they are sucking their parents dry and working lifestyle jobs.

Maybe 25% of the stories involved kids with generation wealth and/or parents were almost making a true "investment" in their kids. One example were parents providing their kid $100k to start their own medical practice.

An essential part of the strategy is raising kids with financial acumen and a work ethic. You have to instill the value of contributing to the nest egg and improving the next generation's inheritance

Improving the next generation’s inheritance is not a good motivator because a sure way to do it is to have fewer kids.

[Anonymous]

Anonymous wrote:OP & others like them are super jealous. As long people weren’t harmed in obtaining the money, what’s wrong with families helping each other out?

I plan to this for my child and grandchildren. Why would I want them struggle?

OP, do you want your children to struggle like you? Crabs in the barrel mentality is not good.

A bit of adversity in life is a good thing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

What culture is that?

Hardnosed scrappy americans who clawed their way out of poverty and into the upper middle class over 3 generations and who will hopefully be smart, hardworking and lucky enough to hold onto it for the next 3+ generations. The money pays for education and funds small businesses, and if a current retiree gains enough wealth rather than pay it in estate tax it'll go to supplement the working generations retirement savings.

We don't stick our old people in retirement homes -- older generations first save for their own retirements so they aren't a burden to our kids.

Nice way to evade the culture question.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

Well, that's the point. These kids won't have any assets and resources to flow to their own kids because they are sucking their parents dry and working lifestyle jobs.

Maybe 25% of the stories involved kids with generation wealth and/or parents were almost making a true "investment" in their kids. One example were parents providing their kid $100k to start their own medical practice.

An essential part of the strategy is raising kids with financial acumen and a work ethic. You have to instill the value of contributing to the nest egg and improving the next generation's inheritance

Improving the next generation’s inheritance is not a good motivator because a sure way to do it is to have fewer kids.

+1. Many will have only one child or none. Can't blame them with the current outlook and climate change.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

Well, that's the point. These kids won't have any assets and resources to flow to their own kids because they are sucking their parents dry and working lifestyle jobs.

Maybe 25% of the stories involved kids with generation wealth and/or parents were almost making a true "investment" in their kids. One example were parents providing their kid $100k to start their own medical practice.

An essential part of the strategy is raising kids with financial acumen and a work ethic. You have to instill the value of contributing to the nest egg and improving the next generation's inheritance

Improving the next generation’s inheritance is not a good motivator because a sure way to do it is to have fewer kids.

+1. Many will have only one child or none. Can't blame them with the current outlook and climate change.

Climate change is nothing compared to nuclear war that we had to worry about 40 years ago.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

Well, that's the point. These kids won't have any assets and resources to flow to their own kids because they are sucking their parents dry and working lifestyle jobs.

Maybe 25% of the stories involved kids with generation wealth and/or parents were almost making a true "investment" in their kids. One example were parents providing their kid $100k to start their own medical practice.

An essential part of the strategy is raising kids with financial acumen and a work ethic. You have to instill the value of contributing to the nest egg and improving the next generation's inheritance

Improving the next generation’s inheritance is not a good motivator because a sure way to do it is to have fewer kids.

+1. Many will have only one child or none. Can't blame them with the current outlook and climate change.

Climate change is nothing compared to nuclear war that we had to worry about 40 years ago.

The threat of nuclear war is greater now with Trump in office.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

Well, that's the point. These kids won't have any assets and resources to flow to their own kids because they are sucking their parents dry and working lifestyle jobs.

Maybe 25% of the stories involved kids with generation wealth and/or parents were almost making a true "investment" in their kids. One example were parents providing their kid $100k to start their own medical practice.

An essential part of the strategy is raising kids with financial acumen and a work ethic. You have to instill the value of contributing to the nest egg and improving the next generation's inheritance

Improving the next generation’s inheritance is not a good motivator because a sure way to do it is to have fewer kids.

+1. Many will have only one child or none. Can't blame them with the current outlook and climate change.

Climate change is nothing compared to nuclear war that we had to worry about 40 years ago.

The threat of nuclear war is greater now with Trump in office.

That’s true. I wonder if Trump would even give the order to retaliate if Russia launched a first strike?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

Well, that's the point. These kids won't have any assets and resources to flow to their own kids because they are sucking their parents dry and working lifestyle jobs.

Maybe 25% of the stories involved kids with generation wealth and/or parents were almost making a true "investment" in their kids. One example were parents providing their kid $100k to start their own medical practice.

An essential part of the strategy is raising kids with financial acumen and a work ethic. You have to instill the value of contributing to the nest egg and improving the next generation's inheritance

Improving the next generation’s inheritance is not a good motivator because a sure way to do it is to have fewer kids.

Nothing wrong with that. 1 or 2 kids is enough. Fewer kids means you can put more into their education.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

What culture is that?

Hardnosed scrappy americans who clawed their way out of poverty and into the upper middle class over 3 generations and who will hopefully be smart, hardworking and lucky enough to hold onto it for the next 3+ generations. The money pays for education and funds small businesses, and if a current retiree gains enough wealth rather than pay it in estate tax it'll go to supplement the working generations retirement savings.

We don't stick our old people in retirement homes -- older generations first save for their own retirements so they aren't a burden to our kids.

Nice way to evade the culture question.

It was an answer. Not an evasion.

[Anonymous]

I know one woman who has three daughters aged 24 through 29 all living at home. They all have jobs so I don’t know why they are there. There seems to be a lot of failure to launch syndrome with that generation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

What culture is that?

Hardnosed scrappy americans who clawed their way out of poverty and into the upper middle class over 3 generations and who will hopefully be smart, hardworking and lucky enough to hold onto it for the next 3+ generations. The money pays for education and funds small businesses, and if a current retiree gains enough wealth rather than pay it in estate tax it'll go to supplement the working generations retirement savings.

We don't stick our old people in retirement homes -- older generations first save for their own retirements so they aren't a burden to our kids.

Nice way to evade the culture question.

It was an answer. Not an evasion.

So you belong to the third gen "scrappy American" culture? That's an evasive answer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

Well, that's the point. These kids won't have any assets and resources to flow to their own kids because they are sucking their parents dry and working lifestyle jobs.

Maybe 25% of the stories involved kids with generation wealth and/or parents were almost making a true "investment" in their kids. One example were parents providing their kid $100k to start their own medical practice.

An essential part of the strategy is raising kids with financial acumen and a work ethic. You have to instill the value of contributing to the nest egg and improving the next generation's inheritance

Improving the next generation’s inheritance is not a good motivator because a sure way to do it is to have fewer kids.

+1. Many will have only one child or none. Can't blame them with the current outlook and climate change.

Climate change is nothing compared to nuclear war that we had to worry about 40 years ago.

The threat of nuclear war is greater now with Trump in office.

That’s true. I wonder if Trump would even give the order to retaliate if Russia launched a first strike?

Depends where the strike was.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The thing that majorly irks me is when a daycare, or a private school, or a private college, gives financial aid because income doesn't take into account grandparent gifting.

Archived nymag article here. I am sure people will be outraged and delighted.

https://archive.is/https://nymag.com/intelligencer/article/parents-money-family-wealth-stories.html

The stories are interesting because the vast majority are the cliches everyone talks about. Basically, adults that will never be able to stand on their own two feet...ever.

But, I mean, so what? Every since humanity evolved we've been working together in family groups to take care of each other. Why not continue that human trait?

Huh? Working together in family groups implies older help younger, and younger help older. It's a reciprocal relationship.

These stories, for the most part, are one-way only. What's worse, most of these stories involve children that will sap all the money from their parents, and have done nothing to leave anything to their own children.

Nope. In my culture, assets and resources flow down to the next generation. Hands on logistical eldercare can certainly be provided if needed but kids should not be paying for the elderly's retirement. They should be building on the wealth and opportunities we provide them to take care of their own kids and build/maintain wealth.

What culture is that?

Hardnosed scrappy americans who clawed their way out of poverty and into the upper middle class over 3 generations and who will hopefully be smart, hardworking and lucky enough to hold onto it for the next 3+ generations. The money pays for education and funds small businesses, and if a current retiree gains enough wealth rather than pay it in estate tax it'll go to supplement the working generations retirement savings.

We don't stick our old people in retirement homes -- older generations first save for their own retirements so they aren't a burden to our kids.

Nice way to evade the culture question.

NP here, but wondering what you mean by “what culture is that”? Lots of families I know have this culture/tradition of working hard through life and then saving and investing to have enough to get the children started with excellent educations and the wherewithal to make a good living while still having enough for the parents to pay for their own expenses as they age.

My parents always said that the greatest gift a parent could give their children is to not be a burden to them in old age. My parents did this, and my spouse and I are planning to do the same for our children. Many people I know are doing the same.

So, yeah, not sure what you’re looking for with the “what culture is that” question. It’s their family’s culture to live and plan in that way, nothing unusual about families having their own cultures.

[Anonymous]

Anonymous wrote:I know one woman who has three daughters aged 24 through 29 all living at home. They all have jobs so I don’t know why they are there. There seems to be a lot of failure to launch syndrome with that generation.

How is this a bad thing to live with your parents and save money?

[Anonymous]

I’m surprised there are people just now finding this out. Lots of wealthy and even MC people help to pay for their adult children’s college, wedding, downpayment.