Reply to Am I really still beneath my peers financially?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]There will ALWAYS be people who have more money than you, just as there will ALWAYS be people who have less money than you.[/b]  Don't compare, just take care of you![/quote]

It's not about salary that I'm worried about. Life can be divided into 4 phases in terms of the relationship between you and your parents.

Phase 1) Your parents are financially supporting you.

Phase 2) You're financially supporting yourself.

Phase 3) You're financially supporting yourself and your parents.

Phase 4) You're financially supporting just yourself again because your parents are dead.

What I'm worried about is that most of my peers have already moved on to Phase 3 just as I've reached Phase 2.[/quote]

But that's wrong.  Not every family is like that.

My parents started out middle class when my older siblings were born.  By the time I (youngest) was born, they were already in the UMC.  After I graduated from high school, Mom changed careers and became quite successful (in her 60s).  She's 91 and finally planning to retire.  She's ramping down her business and will probably be retired in the next 12-18 months.

All of us kids are UMC and doing fine.  But Mom is still more affluent that we are.  Mom pays for all extended family vacations and often helps the kids and grandkids with various optional luxury expenses.  When my father was aging in place, they were able to pay for all of the assisted in-home supplemental care out of pocket (the costs after medicare paid out).  And when she passes, she'll leave a fairly substantial estate.[/quote]

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