How much money should a 30-year-old male be sending his parents per week?

[Anonymous]

Anonymous wrote:If you're a male over 30, how much money did you send your parents each week when you were 30? If you have a son over 30, how much did they send you each week?

Nothing

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is so cultural. For my family, $0. I know 30 year olds who TAKE money for down payments or kids tuition (though not monthly).

This. Children in the US don’t regularly send money to their parents. My parents were immigrants and often sent money back home, but their families were basically living in poverty in their home country. My mother earned enough money here in the states in her late twenties to pay to build a proper home for her family so they could move out of the stone cottage they were living in. But they never would have expected money from me.

+1 This. Your average immigrant grocery store clerk is sending money home to their family in their home country. Your average American grocery store clerk might be living at home and receiving money from their parents

[Anonymous]

Anonymous wrote:$0 at any age. Why would an adult child send money to his parents?

Hello white privilege. Talk to any nanny on the playground or taxi driver. They’re sending home the money they pays for a house/school fees/business expenses/medical bills at home.

[Anonymous]

Anonymous wrote:$0 at any age. Why would an adult child send money to his parents?

I do it because my mother is a widow who has no savings but social security and could not afford rent or her medications if I did not send her money. If your mother was in this situation and you could afford it but didn't send her money, you are a monster.

[Anonymous]

It depends. If parents loved you and tried to do everything they could for you and lived responsibly, you should feel proud to help them if you can afford and they need it in their old age. In a supportive and loving family, people care about each other.

What is money for? Lavish spending and wealth hoarding?

[Anonymous]

Anonymous wrote:

Anonymous wrote:$0 at any age. Why would an adult child send money to his parents?

I do it because my mother is a widow who has no savings but social security and could not afford rent or her medications if I did not send her money. If your mother was in this situation and you could afford it but didn't send her money, you are a monster.

Provided, of course, that she was under the age of 76.

[Anonymous]

Anonymous wrote:When my parents ran out of money in their 70s, I sent $500 a month. When DH's mom ran out of money, we sent $1500 a month. We and they are not immigrants families and weren't going to let them live in poverty after all their sacrifices for us.

Was your father under 72 and your mother under 76? For a man over 72, the mere fact that he's still alive should be good enough for him, as most men his age are dead. The same holds true for a woman over 76.

[Anonymous]

Anonymous wrote:

Anonymous wrote:DH and I are Asian immigrants and we came from well-off families so we did not have to bankroll them. However, I bought a flat in the same building where my brother lives, so that my parents could live there rent-free and my brother could look after them. As a result, they did not have to sell their own huge house and they were able to rent it out for $$$. It made them quite wealthy. My brother has had some financial difficulties but does not take any monetary gift from us unless we beg him to or force him to.

My dad passed away and my mom wants to sell off her house while she is still alive. We all have a share in the house and the money that will come to all of us will be enough for my brother to become financially comfortable. So, my one act of buying a flat/apartment for my parents to live in helped to preserve family house and generated enough wealth that 20 years down the line we all will benefit from it.

Incidently, my brother recently sold off the flat that I had bought for double of what we had paid and with that money, we helped my brother to pay off the mortgage of his own house, + we still have quite a bit left for other costs down the line. My mom remains a wealthy person in property and cash.

To send money to parents so that they can live well, so that your younger siblings can get educated, so that you make some property for security or income generation, helps to life out the entire family from poverty. There is nothing wrong in setting family and relatives to succeed. Rising tide should raise everyone.

There’s a big difference between rising someone out of poverty and tax evasion so that everybody can be rich. Shouldn’t you have paid the taxes on the sale of that apartment? Wasn’t that your income?

Yes. The sale of that property meant that we paid capital gain taxes too. The country that this property was in, everything is tracked by the govt and there is extensive paperwork. I gave my brother the POA. Everything was done on our behalf by him and the bank also did its due diligence.

[Anonymous]

I am immigrant. I have White friends who will pay $$ for their elderly parents rent. In their shoes, with the friend's income and the huge homes that they live in, I always wonder why not let your parents live with you?

That way you save your money and they save their money. You are already trying to bail them out and their situation is only deteriorating? Very soon you will be trying to take care of their failing health and put yourself under the immense stress.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$0 at any age. Why would an adult child send money to his parents?

I do it because my mother is a widow who has no savings but social security and could not afford rent or her medications if I did not send her money. If your mother was in this situation and you could afford it but didn't send her money, you are a monster.

I would let my mother stay with me. Her SS would be enough for her to live and save some money too. This maintaining multiple households is making America poor. And it is not as if you do not take care of the parents when they become old and feeble. So it is not as if people are saving themselves stress or expense, if their parents live away from them! Such a nonsense way of life.

[Anonymous]

US has social programs and parents tend to have 401k and house equity. Parents also doesn't pay for all expenses after high school. Young adults have jobs, scholarships, assistantships, financial aid, loans and credit cards. Parents often doesn't pay for weddings either. Family bonds aren't as tight on average with self focused culture, divorces, family issues etc.

Its the opposite in other cultures.

[Anonymous]

Anonymous wrote:I am immigrant. I have White friends who will pay $$ for their elderly parents rent. In their shoes, with the friend's income and the huge homes that they live in, I always wonder why not let your parents live with you?

That way you save your money and they save their money. You are already trying to bail them out and their situation is only deteriorating? Very soon you will be trying to take care of their failing health and put yourself under the immense stress.

Because we live in a society where adults who live with their parents are looked down upon and seen as lazy and unmotivated. Sad but true.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am immigrant. I have White friends who will pay $$ for their elderly parents rent. In their shoes, with the friend's income and the huge homes that they live in, I always wonder why not let your parents live with you?

That way you save your money and they save their money. You are already trying to bail them out and their situation is only deteriorating? Very soon you will be trying to take care of their failing health and put yourself under the immense stress.

Because we live in a society where adults who live with their parents are looked down upon and seen as lazy and unmotivated. Sad but true.

This is one of the reasons why so many young people have so much debt.  I lived at home with my parents until I was 31 years old and saved up 90% of my 140K/year salary.  I drove the same car for nine years that my parents bought for me as a present after college graduation.  I didn't have to pay for rent, food.  I used 10% of my income on car insurance, phone bills, and  two weeks vacation every year to travel to Europe, Asia, or South America.  I put 90% of my salary into high growth investments.  By the time I turned 31 and got married, I had over 2.5M in cash from the money that I invested.  When I met my gf, now my wife, at the age of 29, I explained to her the reason I lived at home, to invest in our future together.  Two days after we got married, I wrote a 200K check to pay off my wife's student loan debt and bought a 400K condo for her parents. 

There is no freedom unless you have financial freedom.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am immigrant. I have White friends who will pay $$ for their elderly parents rent. In their shoes, with the friend's income and the huge homes that they live in, I always wonder why not let your parents live with you?

That way you save your money and they save their money. You are already trying to bail them out and their situation is only deteriorating? Very soon you will be trying to take care of their failing health and put yourself under the immense stress.

Because we live in a society where adults who live with their parents are looked down upon and seen as lazy and unmotivated. Sad but true.

This is one of the reasons why so many young people have so much debt.  I lived at home with my parents until I was 31 years old and saved up 90% of my 140K/year salary.  I drove the same car for nine years that my parents bought for me as a present after college graduation.  I didn't have to pay for rent, food.  I used 10% of my income on car insurance, phone bills, and  two weeks vacation every year to travel to Europe, Asia, or South America.  I put 90% of my salary into high growth investments.  By the time I turned 31 and got married, I had over 2.5M in cash from the money that I invested.  When I met my gf, now my wife, at the age of 29, I explained to her the reason I lived at home, to invest in our future together.  Two days after we got married, I wrote a 200K check to pay off my wife's student loan debt and bought a 400K condo for her parents. 

There is no freedom unless you have financial freedom.

I have financial freedom and moved out of my parents house at 21 (when I graduated from college). Put myself through MBA school. Bought a house at 27. Paid off my own school debt and DHs school debt. Financial freedom doesn't require living at home, and learning to live independently is also an important life skill. Obviously OP is doing that since he is 30 and not living with his parents.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is so cultural. For my family, $0. I know 30 year olds who TAKE money for down payments or kids tuition (though not monthly).

This. Children in the US don’t regularly send money to their parents. My parents were immigrants and often sent money back home, but their families were basically living in poverty in their home country. My mother earned enough money here in the states in her late twenties to pay to build a proper home for her family so they could move out of the stone cottage they were living in. But they never would have expected money from me.

African Americans regularly send money to their parents. And so asians and hispanics.