And post On the/millennials a subreddit has hit a nerve with thousands of consumers after one woman asks, “Anyone else gives your parent/parent every month?”
In the post, the original poster, who said she was a public sector lawyer in her 30s, explained that she had been sending her mother about $ 4,000 a year for nearly a decade. She also gave her mother a car, carved on another, and gives extra cash on birthdays and holidays.
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“I'm not a rich woman either,” she wrote, adding her to pay her way through the Law School with Student Loans and has paid the debt himself. “But what really motivates me,” continued, “is when I talk about investments, she tells me, 'Older people never invested – we didn't have the same opportunities.'”
That's where the conversation blew up.
Many Reddit users pushed back on the mother's claim that older generations did not have access to investment. One 67 -year -old starter wrote: “We had great Hella investment opportunities in our generation. Microsoft? Amazon? Apple? Starbucks? Real estate? Yes. Yes.”
Another added, “People go crazy when I distract Millennials have more savings than boomers in their ageBut actually the truth supported by many studies. Fact is, Millennials know that they cannot rely on prosperity for support so that they save. Boomers expect everyone else to support them so they don't. “
Many noted, while OP's father, who is older than her mother, Regularly invested and planned ahead, her mother have taken a second mortgage out and Racked Credit Card Debt instead.
Trend: Blackrock calls 2025 an alternative asset year. One NYC company has built a group of 60,000+ quiet investors who have all joined on the Alt Asset class that was formerly unique to billionaire such as Bezos and Gates.
Turning out, plenty of redditors could identify.
Some said they send money to their parents monthly, even when it's financial stress. Others described living with parents or paying expenses such as rent, car payments, foods and phone bills. A little mentioned that they expected to support their parents for the rest of their lives, not out of wealth, but out of love and guilt.