Reply to If parents expect repayment from their adult children, how are they any different from a business?

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Reply to "If parents expect repayment from their adult children, how are they any different from a business?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We estimate it took us about $275,000 to raise each of our kids. It's perfectly natural to ask them to pay back some of that money once they have good-earning jobs. I finally would also like to drive a nice car.[/quote]

Thanks for the laugh!!!

Your kids didn’t ask to be born.  They owe you nothing![/quote]

Right. My parents bought their house for $100,000 and sold it for $2m. They didn’t have to save, falling interest rates did it for them. 
In many cultures children are expected to sacrifice and support their parents in old age. So asking them for a nice car or vacation once in a while is actually quite modest when compared to moving in them so they can take care of you![/quote]

I am living in an Asian country currently and just found out many parents expect to receive an allowance of around 10% of their adult kids’ earnings.  The oldest child is expected to have them move in with them eventually.

It made me really appreciate my parents.[/quote]

Exactly! It's not a novel idea. Here in the US the Boomer generation is facing a retirement crisis because they never really had a chance to save. A monthly stipend or allowance from their kids would make so much sense if that were the cultural norm here.[/quote]

LMAO good one. Boomers had perfect economic conditions. No chance to save... 🤣🤣🤣[/quote][/quote]

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