
Maybe she's ready but she doesn't want to. Why do you care? |
The overlap between people being subsidized by wealthy parents or grandparents while also being subsidized by the government is significantly larger than I’m guessing you think it is. “It’s not a handout when it’s for ME” amirite? |
This is not surprising at all. Most younger people that have houses, etc, are propped by their parents. How else can you afford a house today? That is the wealth divide, and it is getting worse and worse.
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LOL. Truer words never spoken. |
For most of the young adults today, living at parents' homes, it is not failure to launch. It is the inability to save for the down payment, parents not being able to help financially by giving you a ton of money, and rent being extremely expensive.
That is the reality. You know all those laughing at Europeans who live with mom and dad? That is the new reality in the U.S. Not failure to launch, inability to compete with the rich. How arrogant of Dcumers to post something so stupid and entitled. |
Do you think one needs to work 40 hours per week for someone else in order to “participate in life and the economy”? |
We are surrounded by this in our neighborhood and private school. I don't begrudge the ones who have down payments or their kid's tuition paid by parents. If they work, they get to choose jobs based on what interests them rather than what it pays. Since I'm not looking for it, it often takes me a while to realize that this is the case but it doesn't usually change my opinion of them and I never ask about it. It's fortunate and lucky and none of my business. Obviously if someone is obnoxious or complains about it, it's hard to have respect for them but I don't see that very often.
Neither DH or I have had any support from family since we left home at 18. We're grateful for the life we've built and can afford a good house, vacations, private school. I never thought I'd have those things and I just try to enjoy it. I am teaching my kids to work hard but I'd love to make their lives a little better/easier if we have the means when we're older. |
And how old are you? Are you honestly telling us that your children will get no help from you buying a house? What did you do at 18 that you were on your own? When was this? Do you think your kids can afford the house with regular jobs like you did? |
The grandparents in our situation did that when he retired early 30 years ago. The yearly exemption was lower 30 years ago but still it add up. Our situation is two children with spouses and four grandchildren. They told us right away that they didn’t see a reason to wait until they died to give money. They set up trusts for the grandchildren when they were little so we were able to send invoices to the trustee and he would pay tuition, summer programs, trips, etc. They would add money to it yearly. They would give the yearly gift to the adults. They bought houses, cars, etc. They died recently within months of each other and left a generation skipping trust. If they hadn’t given money to their families and others their assets would easily have been about $50 plus million. But what would have been the point of that? |
That’s perfect, the way it should be. Too many adults hold on to old wounds from childhood and become “estranged “ from their mothers. |
If it works for them why would you see it as a negative? |
+1. It's not a failure to launch if they all want to live together. |
Exactly! It's smart financial planning for many 20 something's. Live at home in a nice 3k sq ft home, and save |
We aren't seeing any generational wealth coming our way and that's totally fine. But, yes, a lot of the millenials that I work with have houses because their parents gave them a large down payment.
Both of our sets of grandparents died with no money left and it looks like our baby boomer parents will be the same. I'm just really glad they won't be leaving us any debt and will be comfortable til the end. That is a blessing. Where my kids have a benefit is that they have an aunt and an uncle who are single, no kids, and looks like will be leaving their wealth to them, which could be substantial from both of them. Of course, it won't be til very late in their lives, hopefully. But I see a bit how our family does have the possibility of generational wealth beginning to accrue. |
Many young adults have jobs that will afford them a house on their own. My kid’s starting job at 21 pays over $250k and my kid already has over $150k saved of their own money from internships and investments (maybe $5k of that total came from family gifts). Heck, he has a classmate that will earn $450k out of college. Honestly, this has hasn’t changed much in the past 30 years in terms of some kids picking lucrative professions and others not. I am in the camp of making wealth transfers for estate planning…but it’s debatable if my kid “needs it”. |