Intergenerational Equity

How to pass, fit in, eventually set an example, and ultimately lead the way.
george
Posts: 296
Joined: Sat Mar 05, 2011 9:41 am

Post by george »

B Love your comment
Talking with them about it, saying how greatful you are etc, I'm sure that will mean a lot


Marg
Posts: 24
Joined: Fri Oct 21, 2011 2:32 am

Post by Marg »

When I entered the work force I had 2 younger siblings in college and one in high school. Money was very tight for my parents. They hadn't been able to help me much with college (4.5k total and I lived at home). I paid off my minimal student loan payments (5.5k) and I paid my parents back for the money they gave me for college. I also paid them rent until I moved out - not much, but some. 250 a month, I think. It wasn't much money so I was able to do it within 6 months.
They didn't expect me to repay them, but they appreciated it. Same with the rent. There have been other sibs living rent free and I think it's made them unhappy at times. I know my mom saw a tax return one year and felt really taken advantage of... here an adult was earning 60k+ and not paying anything. Not even enough to offset food and utility costs. :( They love their kids and want to help them, but paying for someone's home so that they can have lots of luxuries is unpleasant. I've seen that in other situations, too -- kid lives at home for a long time, not to get in a more stable financial but instead to have more fun money. Not generally appreciated by the parents.
At any rate, I think sometimes writing a check can be appropriate but not to make up for your childhood. Mostly just taking care of yourself and being involved in their lives (visit, call etc) is great. I think that's what most parents want: to see you grow up healthy, happy, and doing alright in the world.


FrugalZen
Posts: 270
Joined: Thu Aug 04, 2011 12:22 pm

Post by FrugalZen »

Definately with Jacob though its a non=starter for me having lost both parents over 10 years ago.
As for LoveSherpa....I think the idea is you will help your parents if they need it but what they REALLY expect (probably IMO) is for you to "Pay It Forward".
They scrimped so that YOU could have a better life than they did growing up and I would expect they expect you to do the same for your kids.....you got the B.A.....now they expect the Grandkids to get PHD's...LOL!


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