The amount of people living subsidized by their parents is astounding

[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.

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.

It's just you. The money was intended for their children and grandchildren. Might as well give it to them when you can see them benefit.

[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.

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.

But the parents buying cars for their adult kids or paying for school tuition for their grandkids is reducing the tax burden when they pass. You still pay taxes on trusts. But we don't pay taxes when we give each of our kids $36,000 gift money (now $38k in 2025). When our kids have kids, we'll contribute to 529 plans for them as well.

So in 2024, we gave our 4 kids a total of $152,000. No taxes on that. But if that $152,000 was in a trust, we'd pay tax on the trust and the kids would pay taxes on the money disbursed from it and taxes on any money the trust made.

[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.

This isn't the flex you think it is. Pathetic.

+1. Full medical care meaning Medicare? They should definitely be saving their money with Trump intending to cut back on Medicare and SS. Pay for your kids private school with your 1M HHI and don't make them have to ask you for help later.

[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.

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.

Why? The only difference is the living parent gets to see the kids enjoy it. If you’re some trust fund kid who feels superior to someone getting tuition for private school from a living parent, you’re a f-ing clown 🤡

[Anonymous]

why would I NOT want to give my kids money if it has zero impact to me. The pictures we get from their vacations, a new home renovation or the sheer joy we get out of knowing they can worry just a bit less is worth it.

Our kids are smart and not lavish. The 38k/yr gives them to be more comfortable and splurge on a few things that bring them joy.

[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.

This

[Anonymous]

Is what it is. As someone who grew up very poor, I envy people who came from generational wealth and have had so many advantages. But I also see how many of them end up as complete messes so it’s always a give and take. Ultimately I just try to do my best and focus on my family. If I were to grt upset every single time I ran into someone in this area who has family help, I’d never have a moment of happiness.

[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.

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.

But the parents buying cars for their adult kids or paying for school tuition for their grandkids is reducing the tax burden when they pass. You still pay taxes on trusts. But we don't pay taxes when we give each of our kids $36,000 gift money (now $38k in 2025). When our kids have kids, we'll contribute to 529 plans for them as well.
So in 2024, we gave our 4 kids a total of $152,000. No taxes on that. But if that $152,000 was in a trust, we'd pay tax on the trust and the kids would pay taxes on the money disbursed from it and taxes on any money the trust made.

After the $13,000,000 tax free exclusion.

[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.

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.

But the parents buying cars for their adult kids or paying for school tuition for their grandkids is reducing the tax burden when they pass. You still pay taxes on trusts. But we don't pay taxes when we give each of our kids $36,000 gift money (now $38k in 2025). When our kids have kids, we'll contribute to 529 plans for them as well.
So in 2024, we gave our 4 kids a total of $152,000. No taxes on that. But if that $152,000 was in a trust, we'd pay tax on the trust and the kids would pay taxes on the money disbursed from it and taxes on any money the trust made.

After the $13,000,000 tax free exclusion.

It's actually up to $14 million now, and it's per person, so it's $28 million for a couple. So it only applies to you if you are very, very rich. Remember that when people talk about stuff like this. If you have a grandparent who has built up $1.5 million in a 401k, there are zero taxes.

[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.

So… things that are SIGNIFICANTLY more expensive than a “Richie Rich” vacation in the Alps?

[Anonymous]

My parents were both teachers and very frugal. They saved enough for me to go to an in-state college. I wanted to go to an out of state college and planned to take loans to cover the difference. My grandparents offered to pay so I wouldn’t have to. This really changed my life; particularly my early career, and I hope to pay that forward to my kids and grandkids.

Now, my parents will give me money, nothing that dramatically changes our standard of living (my husband and I are DINKs who make around $300K together) but (for example) when we bought our house, they gave us $10K to buy furniture. Could we have afforded this on our own, sure, but it took stress off and was just so kind. Again, hope to pay this forward.

[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.

I don’t try to obfuscate, but there’s not really a good way to discuss this kind of thing in most situations. People get really touchy about it.

[Anonymous]

Anonymous wrote:

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.

So… things that are SIGNIFICANTLY more expensive than a “Richie Rich” vacation in the Alps?

Things that are not frivolous ski vacations, yes

[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.

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.

But the parents buying cars for their adult kids or paying for school tuition for their grandkids is reducing the tax burden when they pass. You still pay taxes on trusts. But we don't pay taxes when we give each of our kids $36,000 gift money (now $38k in 2025). When our kids have kids, we'll contribute to 529 plans for them as well.
So in 2024, we gave our 4 kids a total of $152,000. No taxes on that. But if that $152,000 was in a trust, we'd pay tax on the trust and the kids would pay taxes on the money disbursed from it and taxes on any money the trust made.

After the $13,000,000 tax free exclusion.

It's actually up to $14 million now, and it's per person, so it's $28 million for a couple. So it only applies to you if you are very, very rich. Remember that when people talk about stuff like this. If you have a grandparent who has built up $1.5 million in a 401k, there are zero taxes.

Also it depends on the trust, but sometimes the assets are in a trust to get them out of everyone’s estates for generations. The trust pays taxes, and beneficiaries pay taxes on distributions, but no one pays estate taxes on the assets in the trust.

[Anonymous]

Anonymous wrote:OP, there is always one generation that works very, very hard and then they create the generational wealth for their children.

You should strive to be that generation and provide for your children and future generation. We are immigrants who came with $200 in this country. We lived a life of penury for several years and we worked very hard. Our children will get a leg-up in life from us. Their life will be easier than ours. Hopefully, they have imbibed good values from us and they will add to the generational wealth and they will also raise their kids well. Education and hard work are the keys.

I feel exactly this way. I didn't come from generational wealth, but I'm creating it. One of my strongest motivations is my immense love for my children and my desire to, as you say, give them a leg up in life. I will bestow every privilege upon my children that I can muster. It's the way of the world.