The amount of people living subsidized by their parents is astounding

[Anonymous]

Anonymous wrote:I support two adult children. One has medical issues and the other has mental health issues.

My goal is to ensure that neither becomes a charge on the taxpayers.

Supporting people like your kids is one of the most important uses of our tax dollars. One of the many reasons I don’t resent sending my hard earned money to Uncle Sam.

[Anonymous]

My only issue with this is when my peers who receive a lot of financial support from their families don't understand my financial situation or seem to think I must be bad with money because I cannot afford to live the way they do.

My spouse and I get no money from family. We are well educated but had to pay off our loans ourselves so it took a long time before we could really start saving/investing. We bought a home later than many peers, had fewer kids (just one), and have always been more frugal (don't eat out as much, take fewer vacations and budget carefully for them).

I don't resent friends who have gotten a lot of help from their parents, but I absolutely bristle at little comments like "why don't you guys just move inbound for a better school" if we complain about issues with our kid's school. We also had people openly criticize us for buying a townhouse when we bought our home, telling us "don't you know single family homes appreciate more?" Yep, I do know that, we bought what we could afford. Sometimes a friend will go on a great vacation and I'll say, "that sounds amazing, it's on our bucket list," and they'll get after me about how I need to go NOW and don't wait until retirement. Or "it's just money, don't worry so much about it." We've also been told point blank that not having more kids because we worry about affording it is "not a good reason."

I know they don't mean these comments to be rude. They think they are sharing useful financial tips or just promoting a good lifestyle. But they are actually being extremely ignorant of how finances work for people who do not receive regular cash infusions from the Bank of Mom and Dad. They are actually being rude and entitled, but because these are small offenses and I do otherwise like these friends, I don't make a big deal out of it beyond maybe a little push back in the form of a comment like "it might not be a lot of money to you, but it is to us" (which usually shuts people up).

I think it's perfectly okay to complain about behavior like this. And if you are someone whose lifestyle has been greatly augmented by parental contributions, it would be worthwhile to remind yourself, often, that there's no guarantee your friends and colleagues have the same situation and that it might be worth it to learn to give less life advice or comment less freely on other people's spending and life choices.

[Anonymous]

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.

That’s how generational wealth works. Stay mad.

Yeah, stay mad and vote accordingly. The working class can and should make this harder for rich people.

Why do you care if a parent gives money to their kids? Why shouldn’t that be allowed?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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 kind of buried the lead there didn't you. Your parents having $10M in assets completely changes the situation.

NP. It’s “buried the lede”.

[Anonymous]

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.

That’s how generational wealth works. Stay mad.

Yeah, stay mad and vote accordingly. The working class can and should make this harder for rich people.

Why do you care if a parent gives money to their kids? Why shouldn’t that be allowed?

jealousy...that's why. Donate the money you get from your parents if you are so anti money

[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.

That’s how generational wealth works. Stay mad.

Yeah, stay mad and vote accordingly. The working class can and should make this harder for rich people.

Why do you care if a parent gives money to their kids? Why shouldn’t that be allowed?

jealousy...that's why. Donate the money you get from your parents if you are so anti money

…what?

[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.

That’s how generational wealth works. Stay mad.

Yeah, stay mad and vote accordingly. The working class can and should make this harder for rich people.

Why do you care if a parent gives money to their kids? Why shouldn’t that be allowed?

jealousy...that's why. Donate the money you get from your parents if you are so anti money

…what?

I think PP was saying those that are mad, are just jealous. If they had the same situation, they would probably feel differently or if they are so against generational wealth, donate it to a cause they support.

[Anonymous]

I would be careful who you call a sponger.

We invested in the right stocks at the right time decades ago and despite always living frugally on lower-middle class HHI...

...we have been able to pay for my husband's nephew's law school in his home country; help my MIL supplement her meager income to live more comfortably; and send our public school kids to private university.

You'd be surprised, because we still drive a 20 year old beater car and live in our starter house. We don't actually want to change our lifestyles. We're happy the way we are.

You don't actually know other people's finances. If you don't know, do not judge.

[Anonymous]

If I could take my wealth with me when I died, I would not give a cent to my descendents. And I am not rich enough to give it all away in charity. If not my kids and grandkids, then who?

- Gen X parent who is giving all kinds of leg-up to my kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I support two adult children. One has medical issues and the other has mental health issues.

My goal is to ensure that neither becomes a charge on the taxpayers.

Supporting people like your kids is one of the most important uses of our tax dollars. One of the many reasons I don’t resent sending my hard earned money to Uncle Sam.

I disagree. As I have the wherewithal to support my adult children with issues, it is my responsibility to do so, not the taxpayer's.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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 kind of buried the lead there didn't you. Your parents having $10M in assets completely changes the situation.

Everyone has a way of twisting things to make themselves "middle class".

[Anonymous]

Anonymous wrote:

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.

That’s how generational wealth works. Stay mad.

Yeah, stay mad and vote accordingly. The working class can and should make this harder for rich people.

Why do you care if a parent gives money to their kids? Why shouldn’t that be allowed?

jealousy...that's why. Donate the money you get from your parents if you are so anti money

…what?

I think PP was saying those that are mad, are just jealous. If they had the same situation, they would probably feel differently or if they are so against generational wealth, donate it to a cause they support.

Yes, it's extremely obvious that OP et al are just extremely jealous.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I support two adult children. One has medical issues and the other has mental health issues.

My goal is to ensure that neither becomes a charge on the taxpayers.

Supporting people like your kids is one of the most important uses of our tax dollars. One of the many reasons I don’t resent sending my hard earned money to Uncle Sam.

I disagree. As I have the wherewithal to support my adult children with issues, it is my responsibility to do so, not the taxpayer's.

Yes but as someone with a relative (fairly distance) whose family didn't have that kind of resources, I'm so incredibly grateful he's supported by Medicaid. It's not a posh lifestyle, but he has a place to live that he couldn't afford on the job his disability allows him to have, and he's a bright spot in his community.

[Anonymous]

Anonymous wrote:

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.

NP: Making? PP clearly said letting. This is something they want to do for their grandkids with money they are free to spend on anything they please.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

That’s how generational wealth works. Stay mad.

Yeah, stay mad and vote accordingly. The working class can and should make this harder for rich people.

Why do you care if a parent gives money to their kids? Why shouldn’t that be allowed?

jealousy...that's why. Donate the money you get from your parents if you are so anti money

…what?

I think PP was saying those that are mad, are just jealous. If they had the same situation, they would probably feel differently or if they are so against generational wealth, donate it to a cause they support.

Yes, it's extremely obvious that OP et al are just extremely jealous.

Not a PP, I hate this stuff also, but not out of jealousy, just out of the way they want to dodge and obfuscate about where the money comes from. I am actually jealous of people whose parents want to take their grandkids and watch them and help out- we don't have that. Our parents are standoffish and don't make much effort with our kids. I truly am jealous of people who have caring grandparents.