Lucky for me my parents were both “I didn’t save anything for retirement, my kids will take care of me when I’m older”, so I don’t have to suffer through this.
Lucky for me my parents were both “I didn’t save anything for retirement, my kids will take care of me when I’m older”, so I don’t have to suffer through this.
I want my parents to enjoy the money they worked their entire life for. I believe work allows to live, and not the contrary where you live to work. I would 10000x rather my parents enjoy the effort they put for their money instead of dying of exhaustion without being able to use their money
Posting this as infuriating seems grossly entitled. Many of us in these younger generations won’t have excess to give to the next generation, why should we feel that is owed to us?
We won’t have it directly because the boomers have decided consistently across the decades to leave younger generations with nothing. This is just the latest version of that, except now they’re doing it directly to their own children and yeah, it can smart. It’s valid to express frustration at a generation that was handed everything, is leaving nothing, and now they’re doing it in a more personal way.
Every other generation before and after them seem to be on the same page as far as accumulating enough to leave for the next generation so they can have better lives than you had. But not the Boomers, never them. They’re going to get theirs and they deserve to have ALL of it. The next gen can earn their own way just like they had to, after all. Even though they voted away all opportunities to do that, and passing along generational wealth has always been a big key to any kind of success.
You may be right, but at the same time, you getting an inheritance makes it a lot easier for your kids to get one too some day.
So much this. In my country my parents generation could afford buying a house on two middle class incomes when they were end of 20s early 30s. In my generation that is only possible with generational wealth.
I will never be able to own a home because the cost of a down payment goes up with the market, while my saved money’s value stays constant (goes down with inflation). It is literally impossible for me to save it fast enough, even if I saved $1000, which is half of what I pay in rent, per month.
Assuming you’re in the US you should know that first time home buyers can put basically 0% down. You need to pay mortgage insurance until you hit 20% equity in your home but that isn’t terribly expensive when you compare it to the mortgage, insurance, and taxes. The 20% down rule is really only if youre selling an existing property to buy a different one. No bank is expecting a first time buyer to put 20% down.
I want to say the total amount I paid out of pocket at closing for my house was like $3000 back in 2018. So it’s still spendy but the down payment isn’t as much of an obstacle as people make it out to be. The bigger obstacles are just having a good credit score and a history of stable employment.
My grandpa wants to go to space in his lifetime, but doesn’t want to spend everything he’s been saving for my us. I’m like…dude. You worked your ass off all this time. Go to fucking space. I think it’d be badass.
Dying happy and accomplishing your dreams is much better than any amount of money because money is just a number. I have a good job and family and enough money that I don’t really have to think before buying something (even though for most i still do because I don’t like wasting and impulsiveness is a bad thing). I’ve seen and heard way to many stories of people delaying their retirement by “just one more year” and that ends up the year that they either get very ill, hurt themselves or just plain die, always with a huge pile of money. Money also shouldn’t be spent when old, because you cant enjoy it to the same degree
Right? All of us are doing okay. Times are tough, but we’ll make it through.
At the end of the day, I just want to see my grandpa happy and want him to have no regrets. Thankfully, he is comfortably retired and has been for like 15 years, but who knows how much longer he has. I hope he ends up doing it, but I think he feels too guilty.
Sure and that’s fine, but then we need to stop as a society assuming that generational wealth is a thing, and that parents will help their children. Parents do not help with down payments like they used to, or with other major life events, and so we need to assume everyone is starting from zero