I send my parents $5,000 a month. They took care of me and now that I am successful I help take care of them.

Are you the guy whose parents are visiting once a month?

Anonymous wrote:

Anonymous wrote:If you are asking mostly people who grew up in America with parents who were born in America (as I’m assuming is the majority DCUM demographic): $0.

If you want answers specific to another cultural group, please put that type of specifics in your original post so that those with direct experience can reply.

Americans usually have the pay it forward attitude, not pay it backwards. Parents don’t want to be a burden to their adult children (& their young families) so save their money, downsize when elderly, and have long term care insurance.

This is true.

Anonymous wrote:If you're a male over 30, how much money did you send your parents each week when you were 30? If you have a son over 30, how much did they send you each week?

$1000s a week

Anonymous wrote:I am immigrant. I have White friends who will pay $$ for their elderly parents rent. In their shoes, with the friend's income and the huge homes that they live in, I always wonder why not let your parents live with you?

That way you save your money and they save their money. You are already trying to bail them out and their situation is only deteriorating? Very soon you will be trying to take care of their failing health and put yourself under the immense stress.

Some parents are toxic. I would pay may parents' rent, if they needed it but not invite them to live with me and my daughter if I could afford it. Fortunately they don't need it. I think it would be harder to manage the failing health if they were living with you. IF they can't live independently - then assisted living/memory care/nursing home. Not me.

I am an immigrant woman and I send my parents $500 per month. I also buy all of their clothes while they visiting, pay for their trips. I wish I could give them more. They are the reason I am doing well here in the USA.

Anonymous wrote:

Anonymous wrote:$0. Money rolls downhill. I’d hope my son was saving for a down payment or taking wonderful trips with a spouse before kids arrive.

If he hasn't had kids by 30, he's probably not going to.

I don't know anyone who had kids before 30. Almost none were married by then even.

There is always an understanding in caring families to help each other in time of need and to avoid asking for help unless needed.

Anonymous wrote:

Anonymous wrote:Why would a 30 year old, regardless of gender, send their parents money?

If they paid for all of his living and educational expenses from 18-24 so he can get undergrad and graduate degrees without any debt. Obviously, they couldn't save much during those years, specially if schools were private and they were full pay with no aid or scholarships.

Yeah, no. Unless you made a clear arrangement at the time that the child would pay you back (and I’m not sure how that would be enforceable anyways), you can’t expect repayment. Also, you shouldn’t be paying in full for undergraduate and graduate school (private, no less) if you aren’t going to be financially stable in your later years. My parents made it clear to us that they could cover in-state tuition (or the equivalent, should we find a cheap out of state school/get scholarships) for undergrad, and any graduate tuition was our own responsibility.

Anonymous wrote:Why would a 30 year old, regardless of gender, send their parents money?

If they paid for all of his living and educational expenses from 18-24 so he can get undergrad and graduate degrees without any debt. Obviously, they couldn't save much during those years, specially if schools were private and they were full pay with no aid or scholarships.

Why would a 30 year old, regardless of gender, send their parents money?

This would be a very personal and individual decision. I have a friend whose parents are both in nursing homes. They cover their nursing home expenses, but he pays for all their personal needs. So cell phone bill, new clothes for church, toiletries, take out food, etc. He gives them both a specific amount of money monthly, but I'm not sure of the exact dollar amount. They are not American.

My parents are both deceased, but if they needed it and I was in a positon to do it, I'd absolutely help them financially.