Reply to It’s extremely hard to raise kids in a nice neighborhood without generational wealth

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Is the generational wealth canard passé yet? What will be the next excuse of the envious and lazy?[/quote]

I used to not even think about it and assumed everyone rich got that way from working. But then I met several actual trust fund babies around here and my perspective changed. [/quote]

People living on trust funds are very much a minority.  You could also point to lottery winners with as much relevance.  [/quote]

Yes, but you do have a fair number of people who have family either paying for/contributing to school costs and helping with large downpayments/housing. [/quote]

It’s common my parents paid for school and gave me 200k to buy a house. [/quote]

My parents paid for school, including law school, and bought me a car.  We can't do that for our kids because DH is supporting both of his parents right now, and it's a huge drain.  I've got 529 plans covered for any undergrad (I had to set up direct paycheck contributions so they are out of sight, out of mind to DH), and if they make a sensible choice, they would have some left over for grad school.  Moral of the story: figure out when you're dating if your partner intends to support their parents and at what cost.  Don't be surprised, then resentful, like I was. [/quote]

yes, definately figure out what your future spouse plans to do with their parents.  I agree, you need to help your parents if you can, but your own immediate family should come first and if you cannot afford to fund your parents, then you don't[/quote]

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