Reply to Honestly the complete disregard for GenX financial strain is getting old

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Reply to "Honestly the complete disregard for GenX financial strain is getting old"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If the Boomers are so wealthy, [b]won't Gen X inherit their massive wealth?[/b] And ditto for Gen Z.

Being poor is really normal when you're just starting your career and I think it's normal to be envious. I remember wondering how so many adults from my parents generation could have money, yet most were extremely unimpressive. I think most made their money by simply investing in their 401k. Compounding returns is an amazing thing![/quote]

Some Boomers are out spending it all. Others are just a long way from being dead. My parents and in-laws are only early 70’s. They could have a long ways to go yet.[/quote]

Snort. Some of our parents are spending their last time, gleefully, since they "raised their kids" and now it's "me time." 
Fine.

But our boomer parents have never given us one cent. Ever.[/quote]

My parents gave us their old washing machine and two of their old cars (one of which died within months). This was in our 20s.
My ILs have never given us anything.
Both of them got $ from their own parents though! My grandparents gave my parents money to add two bedrooms and a bathroom onto their house. I can’t even imagine accepting a gift of that size.[/quote]

My in-laws, who received substantial financial assistance from their own parents, are extremely well off but have not given their adult children anything. Even college was largely funded by the grandparents (my in-laws parents.)[/quote]

Both my parents and in-laws had tons of help from their parents: wedding costs, downpayment for a home, construction help, childcare for 18 years...But neither set has passed it on, like zero help of any kind. In fact, my mil often remarks negatively on her family members and friends who help their kids. It's a little baffling how selfish and entitled they are, and not generational since so many boomers do help their kids. They do expect a lot from us as well.[/quote]

I had a talk with my parents about putting money into my kids 529 accounts and my father informed me, down to the dollar, of the “gifts” I’d already received from them and pulled up a spreadsheet to prove it. The spreadsheet went back to the 90s and included every Christmas and birthday gift I got as a teenager, my dorm supplies, a curtain rod they bought for my first apartment, and souvenirs for me from the trips they’d gone on over the past 30 years including a bottle of maple syrup and a seashell napkin holder.
Reader, I have never been more speechless.[/quote]

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