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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My parents are boomers who both went to business school, graduated with nothing but debt but then had very successful careers. My siblings and I went to top schools (plus one medical school) and graduated with no debt. They have set up 529's for all of our children, have helped us with bridge loans when buying homes and are very generous with annual gifts. They are incredibly generous with charities and they have helped many families in need. They are incredibly warm and loving plus they have a 40 year marriage that sets a wonderful example for all of us. So, I like boomers![/quote]
Shocking news flash: not every Boomer is like your parents. [b]Mine and my ILs haven’t given anyone sh!t since we were 18, despite having the resources to do so. [/b]Not saying they owed that to us, so don’t jump all over me, but I will not be like that with my kids.[/quote]

See, this is what's wrong with you kids. Why do you think they "owe" you anything? Go out and work you lazy a$$.[/quote]

Not PP, and I don't think anyone "owes" their adult children anything. But not all Boomers are "self-made." My husbands' mother had a lot of support from her parents, both financial and otherwise, the ought her life including during her adult years. MIL then inherited 6 figures from her parents after their death when my husband was a teen. She and her former husband didn't pay for anything for their kids once they turned 18, not a cent towards college or purchasing a home or anything. My husband spent all of this 20s and 30s payoff off his student loan debt. And MIL has said she intends to leave nothing behind, despite the fact that she and her current husband have very generous pensions, live in a LCOL area, had that six figure inheritance, and their house is paid off. I really have no idea what they spend their money on. They don't travel or do much of anything really, except eat out a lot and buy lots of "stuff" like essential oils or whatever health/diet fad is current and on projects around the house that they then tear out and re-do in less than a decade. They've done two kitchen remodels and two bathroom renos (to the same bathroom) since 2005. They don't give lavish gifts to their grandchildren. Their attitude toward money is just so bizarre. They feel compelled to spend everything, but on nothing that seems to bring them much happiness for more than a few moments. It's like the money is burning a hole in their pockets and they just have to spend it even if it makes no sense. It seems like poor stewardship of her parents' hard-earned money, as well as poor stewardship of her own money. My husband and I are careful savers because we want to send our children through school debt-free, and leave something behind for their children so they are a little bit better off. I thinks it's weird that my husband's parents don't feel the same way. [/quote]

I don't think it's weird at all.  Letting your kids think that they will inherit your money can cripple them.  They will be thinking that they can be financially irresponsible waiting on a free money windfall upon your death.  [/quote]

This IS weird. We're not talking about a sum of money that would allow someone to sit around and wait for it, and we don't need it. We're doing fine without it. It's just wasteful. They are giving it away for stupid STUFF rather than saving it for their grandchildren and great-grandchildren, or even for a good charity or cause.

They're frittering away something that was given to them rather than paying it forward. They invested nothing in educating their own children, or helping them get a leg up, when they had the means to do so and someone did it for them. They also retired at 65 and make more money in retirement than they did when working because they have good pensions AND collect SS. They're not even doing anything fun with it, like travel or nice vacations. It's like watching someone burn money or flush it down the toilet. [/quote]

This is why democracy sucks.   People spending their money as they wish.  [/quote]

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