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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I know people (30 plus) whose parents are paying for their down payment, co signing mortgages, paying for their grandkids braces, daycare, vacations, ivf, co signing on cars etc. a lot of these people would never admit to how much parental help they are getting despite having “good” jobs. [/quote]

Co-signing on a car loan? Braces? To me, that’s more unusual because that’s two middle class family units helping each other. The adult children are not getting by if they need those things, and the parents are stretching to help them.  That’s not the same to me as “help” that is just wealth transfer. We have a lot of money from parents, but it is gifts and trusts. It’s not item by item. We hugely benefit from it, obviously, but it’s not like we couldn’t support ourselves well enough to qualify for a car loan or buy braces.

I am pretty darn open about family wealth but people tend to live in economically homogenous bands and they make a LOT of assumptions about their friends and neighbors. When someone makes a casual comment about how expensive daycare is, I don’t say “well not for us because I have a trust I can tap for that.” Because that would be super weird and rude. But if a close friend is there talking to me about their struggles paying with daycare and asks what we’re doing, I will certainly tell them. [/quote]

It's not two middle-class families helping each other. It's boomers helping millennials. Boomers had all the advantages-- pensions, cheap housing, strong markets. My "middle-class" parents are actually super wealthy. My own "middle-class" family has two incomes and a strict budget. We're fine, but my parents were way better off (on one income!) at this stage of life than we are. The world has changed in 30 years. [/quote]

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