Millenials are ruining their parents retirement plans?
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Anonymous
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https://www.cbsnews.com/news/adult-children-are-costing-many-parents-their-retirements/
Apparently its tough to save money when you have to pay for your adult kids' avocado toast and cell phone bills. And rent. 
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Anonymous
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Yawn. Add it to the list of things that Millenials have ruined.
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Anonymous
| Health insurance and student loans aren't exactly avocado toast. |
Anonymous
| Millennials. It's M-I-L-L-E-N-N-I-A-L-S. |
Anonymous
| Lazy bums... they are like parasites. |
Anonymous
| If parents are making poor decisions on what to do with their funds, that's not the fault of their kids. |
Anonymous
| The correct phrasing is Baby Boomers are Continuing to Helicopter Parent Their Children and Blowing Their Retirement in the Process. |
Anonymous
| Maybe the boomers should have thought about that before they destroyed the economy and the environment. |
Anonymous
Yes, I know someone in his early 30s who has always been getting help from his parents, his mom paid for his rent, his rental car (which he switched every couple of years to always have new car), took and paid for his family of 4 on vacation (wife and 2 kids), etc, all while he was living it up on a very modest salary. It's unbelievable. I am from China, this social phenomenon is called "Ken Lao" inn Chinese, which literally means "bite the elderly". and I thought it only happens in China.... I also noticed that people who grew up like this (always gets money help from parents), have a false sense of being rich. While if you didn't have that growing up, you tend to be more frugal and always feel the need to save. Like that guy I described above, despite making very little money, he has always acted as if he was wealthy. |
Anonymous
| Since those parents did a crappy job raising them, it seems fair to me. |
Anonymous
I hope us GenX-ers do better. |
Anonymous
| And the parents can’t say no because . . . ?! |
Anonymous
| Ive made it very clear to my kids (22, 28, 31) we will not put our retirement at risk. What I am happy to offer that isn't money is free housing if necessary (move back home not me paying your rent) and free childcare. Those don't cost me money, they cost me space and time and that's something Im still willing to give freely since it doesn't put our future at risk! |
Anonymous
PP here. I do have peer friends who complain endlessly about paying rent, cell phones and other various experiences. In my opinion once you start down that road its hard to close. Then you also have to make it even with other siblings. So its a road I won't go down. |
Anonymous
Well, we had it tough and we survived and learned from it....so, the idea of our kids learning similar lessons isn't too unthinkable for us. It's the folks who think they need to protect their babies from any and every harsh reality out there that are having a tough time of it. Lots of Millenials seem to be pretty o.k. and their parents are in check I think. |