Reply to Did you get parental help to buy any houses you own?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][mastodon][quote=Anonymous]I just don’t really understand the thread maybe.  I made several million by 30 and actually turned down $$$s from wife’s parents.  Seeing other parents continue to control their adult kids’ lives through $$$s (and kids allowing it) was enough of a turnoff that it seemed stupid to accept anything that would just be more money for really no reason.

My wife will inherit a bunch so she will get it eventually, but I don’t understand just taking money for s**ts and giggles.[/quote]

Yes, I think you don’t understand the thread. Generally people here haven’t made several million by 30 with no help from parents. So if they are taking money from parents it isn’t for “sh*ts and giggles”. Now, there may be people who have made several million *because* they had help from parents - I’m in that category. And now I do not take any more money from parents but will be giving to my children. [/quote]

I get paying for kid’s college…but why did you require a handout for the rest…or are you saying they gave you millions which is how you “made” millions.[/quote]

It’s not that I “required” it. They had it to give (because they are worth millions), and while I could service a mortgage, I hadn’t been able to save enough for a downpayment. Could I have waited several more years and saved more and then bought a house? Yes. But they were happy to give it to me and I was grateful to receive it. Not having to save more for that allowed me to invest and do other things with that money, and that’s now I’ll be in position to do the same for my children. You seem weirdly angry about this, but I think it’s a fairly common scenario when parents have money. [/quote]

Yeah, not angry about it…but you got a handout because you weren’t capable of making it on your own.  Again, we have parents with money as I stated and I guess we will inherit a bunch, but many such as I are capable of saying no thanks…I am an adult and don’t need parental welfare.

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Agree. And it’s easy to think “I could have saved that after a few years” but you likely couldn’t have. If you’re not currently saving $100k post tax a year then you likely wouldn’t have done that. Just a thought. It’s harder than people think. Just be grateful your parents helped because you wouldn’t be in the same neighborhood if they didn’t. You would have a different life and lifestyle. [/quote]

Yes I absolutely agree with this. I wasn’t saying I would live the same lifestyle, I was saying I didn’t “require” it to live. I would have eventually bought a much cheaper home and I would definitely have lived a very different life. Our HHI is high (biglaw) but it would have taken a long time to get to where we are now, if we ever did. But what is wrong with that? [/quote]

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