The amount of people living subsidized by their parents is astounding

[Anonymous]

You can dismiss it as jealousy I guess but generational wealth is contributing to really gross income inequality. Remains to be seen how it’s going to play out in a generation or two but there are a lot more of them than there are of you. Maybe you’re bunker-in-New-Zealand rich?

[Anonymous]

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.

It's their money to do with as they wish, but it's not true that they "don't have any other use for their money." They just aren't choosing to use it in other ways, either on themselves, or on others (e.g., https://live.givedirectly.org/)

[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.

I would do the same for my children but I disagree that it is our responsibility. I think it’s our shared responsibility as a country to support those who can’t support themselves.

[Anonymous]

OP, you are such a massive hypocrite.

If you won a massive Powerball jackpot, you would take care of your family in many, many ways. Don’t deny it.

I have plenty of friends who benefit from generational wealth. So what? If I suddenly became very wealthy or landed a job with a massive salary, my entire family would benefit—for generations.

I also have plenty of friends, like me, who don’t “come from money,” and many of us have the goals of helping out not only our children, but our parents as well. So it works both ways.

[Anonymous]

Boomers are literally swimming in wealth. Look up wealth hoarding. It's the boomers! As they die, it will be the greatest wealth transfer in history.

This is well documented. Every generation after them has had way more struggle. Yet they still vote like it's the 70s/80s/90s economy.

[Anonymous]

It's telling how defensive so many of the generational wealth people are. OP just said it was frustrating to not have family money when you are constantly surrounded by people who do. This is not a controversial statement. Imagine hearing about your friend's latest ski trip to the Alps while you're stressed about losing your fed job with no family money to fall back on.

[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.

I’ve met about a dozen people in the past year or two who fit this profile, mostly in the Bethesda/Arlington area. Last guy lived in a $1.7M house on a single government income and had a country club membership. Mid 30’s with SAHM wife and kids who attended private.

When I see that profile, I assume it’s the wife’s money. I think it’s more common honestly for SAHMs in Bethesda to fund themselves with their own family money. It’s way less fraught that way. And if you’re a mom staring down the little kid years, and you have the means to work as much or as little as you like during that time, you might decide to do a serious mommy track or just full SAH.

I used to wonder why I could not afford to stay home and others could. I asked a friend what I was doing wrong, and she told me she had a trust fund.

I'm really glad she told me because I was feeling bad that I could not figure it all out financially on my own.

[Anonymous]

Anonymous wrote:It's telling how defensive so many of the generational wealth people are. OP just said it was frustrating to not have family money when you are constantly surrounded by people who do. This is not a controversial statement. Imagine hearing about your friend's latest ski trip to the Alps while you're stressed about losing your fed job with no family money to fall back on.

For most people, this generational wealth takes the form of private school tuition for their kids, a down payment on a house, or help with emergency expenses. Not some Richie Rich vacation in the Alps.

[Anonymous]

Anonymous wrote:

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.

Same. I'm far more envious of people whose parents are loving and involved with their kids than someone getting a bunch of cash.

[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.

I’ve met about a dozen people in the past year or two who fit this profile, mostly in the Bethesda/Arlington area. Last guy lived in a $1.7M house on a single government income and had a country club membership. Mid 30’s with SAHM wife and kids who attended private.

When I see that profile, I assume it’s the wife’s money. I think it’s more common honestly for SAHMs in Bethesda to fund themselves with their own family money. It’s way less fraught that way. And if you’re a mom staring down the little kid years, and you have the means to work as much or as little as you like during that time, you might decide to do a serious mommy track or just full SAH.

Ding, ding, ding.

[Anonymous]

It’s a problem economically (generational wealth driving disparity) but on a personal level I am unbothered. Frankly I don’t know anyone super wealthy who seems significantly happier on a day to day basis than I am already.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's telling how defensive so many of the generational wealth people are. OP just said it was frustrating to not have family money when you are constantly surrounded by people who do. This is not a controversial statement. Imagine hearing about your friend's latest ski trip to the Alps while you're stressed about losing your fed job with no family money to fall back on.

For most people, this generational wealth takes the form of private school tuition for their kids, a down payment on a house, or help with emergency expenses. Not some Richie Rich vacation in the Alps.

A PP mentioned how they spend the $38k a year from their parents on vacations. And if people are their parents money on down payments and private schools, that frees their own money for vacations. Either way, the point still stands that if you are just a regular person without family money surrounded by people benefitting from family money (ie nicer houses, private schools), that would indeed be frustrating.

[Anonymous]

Anonymous wrote:It’s a problem economically (generational wealth driving disparity) but on a personal level I am unbothered. Frankly I don’t know anyone super wealthy who seems significantly happier on a day to day basis than I am already.

I agree with this, with the caveat that it does bother me when people receiving money from their parents complain about paying taxes or act like avoiding taxes with clever estate planning is an awesome thing.

[Anonymous]

It's irresponsible not to gift the max amount to your kids if you have that wealth or generational wealth. We max out our children each year.

The gift amount for 2025 is now $19,000 per parent, so $38k per child.

[Anonymous]

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.

Not mad at all, I'm actually quite fond of generational wealth

Maybe it's just me, but receiving money from someone who had passed away in the form of a trust seems a lot different than Mommy giving a grown adult 50k for a new car or private school for the kids.