Ivy League grad, still renting an apt. age 70

[Anonymous]

Anonymous wrote:OP here. My parents expected me to go on to med school but I had a nervous breakdown in college (stressful courseload, sister had bad breakup from her boyfriend) and feel like I never recovered. I make a subsistence living teaching English to new immigrants.

That was my impression. Mental health issues. Your sisters life is not yours. You never grew up and became psychologically independent.

[Anonymous]

There is no model for how to live a life. I am sure you have touched many people's lives for the better. Renting or attending an Ivy League school says nothing about who you are as a person.

[Anonymous]

Anonymous wrote:There is no model for how to live a life. I am sure you have touched many people's lives for the better. Renting or attending an Ivy League school says nothing about who you are as a person.

Not saying he’s not a good person but in his case those two pieces of information actually did convey quite a lot about him as a person.

[Anonymous]

Anonymous wrote:I’m still working and receive social security I guess my net worth depends on if you calculate GE pre or post split. No, seriously, I have very little saved but I know if things get really bad my sister and nephews can take me in.

Are you sure your nephews would be willing to take you in? I wouldn’t count on that. Start figuring out a plan for your care that doesn’t include them. Their first obligation will be to their mother and that may be all they can handle. Maybe you and your sister can be roommates to cut down on costs.

There are probably a lot of people out there like you. It’s OK.

[Anonymous]

Who cares what school you went to 50 years later? LMAO

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. I live in New England. The apartment is three blocks from my parents old house. I am single, no children. My only sister is divorced and struggled to raise two kids and I helped her. She inherited same amount plus a life estate (her sons will inherit) on the house she lives in now. She was SAHM and used a lot of her money to give private school and college degrees. She worries about her own retirement so I have helped along the years, seeing that she is my only family.

Whole situation sounds like a shabby genteel mess. You were all over privileged and failed to launch.

Don't project. OP could easily have been a child of immigrants and a first gen college grad. Many kids who went to Ivy Leagues, even 50 years ago, were on financial aid and first gen or from working class families. That he never bought a house indicates to me he's not from a cushy privileged background because that's something affluent people really push their children to do early on and provide the support needed.

OP should talk to various local government agencies that specialize in helping elderly people. Assisted housing programs do exist.

[Anonymous]

Anonymous wrote:Biology major, worked in a hospital lab, inherited $600,000 10 years ago and spent the money on life expenses rather than a house. Anyone in similar situations?

I hate I ever bought a house, it's a money pit.

[Anonymous]

Why did you blow through $600k rather than invest a good amount of it? That makes no sense.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. I live in New England. The apartment is three blocks from my parents old house. I am single, no children. My only sister is divorced and struggled to raise two kids and I helped her. She inherited same amount plus a life estate (her sons will inherit) on the house she lives in now. She was SAHM and used a lot of her money to give private school and college degrees. She worries about her own retirement so I have helped along the years, seeing that she is my only family.

Whole situation sounds like a shabby genteel mess. You were all over privileged and failed to launch.

Don't project. OP could easily have been a child of immigrants and a first gen college grad. Many kids who went to Ivy Leagues, even 50 years ago, were on financial aid and first gen or from working class families. That he never bought a house indicates to me he's not from a cushy privileged background because that's something affluent people really push their children to do early on and provide the support needed.

OP should talk to various local government agencies that specialize in helping elderly people. Assisted housing programs do exist.

You’re right it *could* be he’s a first generation immigrant but something about the post makes me think he’s not and is actually a WASP. Tbh there weren’t too many first generation immigrants at Ivy League colleges 55 years ago.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Male.

I thought so. I was trying to figure which Ivy’s were co-ed in the early 1960’s.

I think OP would have been at Princeton in the early 70's, based on his age today. The first class with women graduated in 1973 so OP might have been there for that changeover.

OP you are such a sad sack. Have you gone to therapy in the past? Are you involved in your community?

Also at 70 you should be getting full social security. Plenty of people are able to live on SS and the amounts went up a lot this year with the inflation adjustment. Hopefully you waited until 70 and didn't take the reduced benefit at 62 because that would be crazy in your situation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. My parents expected me to go on to med school but I had a nervous breakdown in college (stressful courseload, sister had bad breakup from her boyfriend) and feel like I never recovered. I make a subsistence living teaching English to new immigrants.

That was my impression. Mental health issues. Your sisters life is not yours. You never grew up and became psychologically independent.

Didn't you say you worked in the lab? Is this a hypothetical fake story, a composite of some people you knew or some imaginary scenario?

[Anonymous]

OP already said he was a man.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Biology major, worked in a hospital lab, inherited $600,000 10 years ago and spent the money on life expenses rather than a house. Anyone in similar situations?

I hate I ever bought a house, it's a money pit.

Yeah, but you can sell it. If you rented and spent money instead of saving and investing you'd be in much worse situation

[Anonymous]

It sounds so much like a fake hypothetical scenario. Inconsistencies galore.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. I live in New England. The apartment is three blocks from my parents old house. I am single, no children. My only sister is divorced and struggled to raise two kids and I helped her. She inherited same amount plus a life estate (her sons will inherit) on the house she lives in now. She was SAHM and used a lot of her money to give private school and college degrees. She worries about her own retirement so I have helped along the years, seeing that she is my only family.

Whole situation sounds like a shabby genteel mess. You were all over privileged and failed to launch.

Don't project. OP could easily have been a child of immigrants and a first gen college grad. Many kids who went to Ivy Leagues, even 50 years ago, were on financial aid and first gen or from working class families. That he never bought a house indicates to me he's not from a cushy privileged background because that's something affluent people really push their children to do early on and provide the support needed.

OP should talk to various local government agencies that specialize in helping elderly people. Assisted housing programs do exist.

You’re right it *could* be he’s a first generation immigrant but something about the post makes me think he’s not and is actually a WASP. Tbh there weren’t too many first generation immigrants at Ivy League colleges 55 years ago.

There were always working class children of immigrants at the Ivies. Then in the 60s-70s the schools became much more meritocratic with large intakes of Jewish students from working to lower middle class Jewish families. 55 years ago is both not that long ago and a long time ago.

The size of OP's inheritance suggest he or she inherited from parents who were frugal and tried to push their children to do better and the comment about parents pushing OP to go to medical school is a good clue. OP also didn't get lessons about financial management and making long term planning for life either, which is not typical for children from affluent families.