Reply to adults who live off their parents' money secretly annoy me (and i don't understand them)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Nanny here- My parents bought me a $950k condo when I turned 25.  They also bought me a car and paid my rent until I had my condo.  I work and went to college.

My parents said it was because that is how it's done with 'old money' and that you pass it on to the next generation while you are still alive and also avoid paying taxes by giving a one-time gift?  I don't really understand it, but I'm very grateful.

They also did this for all my siblings.

I work really hard and having my condo paid for allows me to live here while earning less money, but working job I really really love (bring a nanny!).    [/quote]

Did they pay for your home in cash or are they paying the mortgage? What expenses do you pay for?

I don't have an issue at all with families who do this. Just curious how it works out. I would LOVE to work because I loved what I did and didn't have to worry about money. [/quote][b]

To answer the question, yes the condo was paid in cash.  They transferred the money to me and I bought the condo.  They did the same for my siblings, but my brothers also added money of their own or got a mortgage for a bigger/nicer house.  I didn't need anything bigger or nicer, for me security was most important and I just didn't want to owe anything.  I had to take loans out for school and pay my own tuition.  When I graduated university my parents paid off my loans, because they said they were happy I had worked hard and taken out loans and want me to start off with a fresh slate.   I just really love being a nanny and I'm really grateful my parents are so generous.  But the rule in my house is just never ever (ever!!!) to ask for money.  If I had asked I'm sure they would have always said no.[/quote]

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