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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am sure your friends are not Asian-Americans. Asian-Americans save for their kids future first. [/quote]

Makes me wonder if that's why there seems to be more Asian-Amercian households that are multigenerational, with the grandparents living with their kids' families in retirement.  I get it may also be a cultural choice or preference, but it would also make sense if the parents spent a large chunk of their savings on putting a few kids through college.[/quote]

Yep, I am from India, in US money flows forward. So parents provide for kids. In India (although it is changing), money flows both forwards and backwards. Plenty of Indians in US send monthly remittance to parents in India. Plenty of adult kids stay with their parents in India to save on rent, groceries etc. Culturally the norm is that son & DIL stays with son's parents. Lots of parents have joint finances with their sons as inheritance is passed to sons (not to daughters - although there is an expectation for bride's parents to foot the wedding bill and gifts).

But again, lot of this is changing, especially for the middle and working class.

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