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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This board is insane sometimes. Idk a single person whose parents helped them buy a house [/quote]

In my experience, it is pretty common in affluent suburb to have parents that help with the down payment.

It's a nice thing to be able to help you kids, and then they will pass it on to help their kids.  It provides a nice cushion in life.

Even if you did not experience that, you can try to start the tradition for your kids.[/quote]

Is it nice? That’s debatable. There is often a lot of toxicity attached. Controlling parents, personality disorders in parents and/or children.  [/quote]

I’m 47 and still get gifted money from my parents each year as do each of my kids. There is nothing toxic about it. I’m very grateful to be born to such successful generous and loving parents. I’ve always known since i had awareness that my parents would always be my safety net. Despite that I still built my own life and have a career, but the difference is i’ve always had the breathing room to have the mind of career I love without needing to worry much about pay. [/quote]

I'm also in my late 40s, and I would be embarrassed to routinely be taking money from my parents. I get that kids need more of a runway now because of housing and healthcare costs, but you're nearly 50 and still getting an allowance from Mommy and Daddy? Woof. I hope you're at least reciprocating in some way as they age and not just a perpetual taker.[/quote]

My thinking is more along the lines that it's going to be theirs eventually, and they may as well reap some of the benefits when we're still around. [/quote]

This 1000%

Also, not just for you to see/be around, but at a point in your kids life that it makes a bigger difference.  $100K (or whatever amount) for a downpayment in your 20s/30s makes a much bigger difference than an estate when your kid is 50+ and you are dead.  It means not struggling, living in a good school district (with your grandkids) and possibly having a shorter commute to work so you have a much higher quality of life overall.  It means more vacations for them, because their mortgage payment is lower, etc.

[/quote]

PSA for people with this mentality....Memory care is $10-12k a month. Don't assume someone in your family won't need it.

If you dole out your kid's "inheritance" when THEY need it, YOU might not have it when YOU need it.

Learned the hard way - paying for a mortgage on a house we bought with a gifted down payment and end of life care for my mother. [/quote]

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