Reply to How common is it for young adults to receive life changing amounts of money from family?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Not really on the same level, but sort of related -- my sister is relocating her son to Boston this weekend where he got a job. He's a recent college grad. She mentioned that they had to co-sign on an apartment lease. She wondered about the kids who don't have that level of support.[/quote]

I’m in my late 50s and moved from a rural area to a large East coast metro area in my early 20s. There was no such thing as a credit check, lease co-sign, etc. And thank god, because my parents definitely would not have been able to help. I would have never asked them to spare them of the embarrassment of such a request. I think about this fairly often as I would have never been able to leave home and “seek my fortune.”[/quote]

Opposite experience for me - I moved to DC in my 20s. After a year in a group house I wanted my own apartment and tried to get a studio. They wouldn’t except a co-sign and required salaries to be above $40k / yr. I was making about $33k, but had full access to a trust I’d inherited at 3 yrs old and hadn’t touched. The apartment was adamant they wouldn’t consider me if my salary didn’t meet the threshold. I bet they would have been surprised that my bank account was about $200k and my stock portfolio was probably close to half a million at the time. [/quote]

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