Reply to What was your parents' anual income when you were growing up?

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[quote=Anonymous]When I was born my parents were renting a one bedroom apartment in the Philly burbs. Both came from very, very poor backgrounds. They bought a SFH in 1983 which cost $205,000 and it was a HUGE stretch for them. SAHM Mom for all of my childhood and still to this day. By the age of 12 my Dad was doing well enough that they joined a country club. By 14 they bought a house at the Jersey Shore. By 25 my Dad set up annual gifting to us as part of their estate planning. By 31 they were gifting both my husband and I the annual max (so $56K per year) and doing the same for my 2 siblings and their spouses. At 32 I was told that they had set up an actual trust fund for me. That trust is just over 10 million today, and they have done the same amount for each sibling, and started annual gifting to all of our (10 all together) children.  I feel very fortunate to have what I have now, but also lucky to have come from a background where I didn't lead a spoiled childhood or have my every want granted. We are trying very hard to raise our kids the same way. [/quote]

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