A Lot of (White) Millennials Get Significant Financial Help From Their Parents

[MalikX]

Generational wealth. People talk about being entrepreneurs. You need some financial backing to do that. Blacks have too much to risk. Likely do not have parents to fall back on or other family members. Don't have the connections either. Hard to take risks when you have no money. White kids can be career students or interns. They have that backing for the most part. I see nothing wrong with parents helping kids. You see this in other communities, not just white. Sadly many blacks have the burden of working to help other members of their family. You ever hear white folk talking about having to give their parents money? Rare.

I still preach education is the key at evening the playing field. He'll learn a trade if schools ok isn't for you.

What is annoying though is people who already have the cheat codes of life having the ability sanity to judge those that don't even know how to play the damn game. I had to work when I was in school and to pay my way. Worked mostly in the summer while white kids were travelling the world all paid for by mom and dad. That advantage is immeasurable.

And it isn't about complaIning but these advantages should be acknowledged.

shyt is scusting.

My mom helps take care of this guy on the weekend. He was 93 years old and couldn't take care of himself anymore so he moved in with his granddaughter.

His daughter, the granddaughter's mom, had died already.

His daughter had given the granddaughter her house PAID OFF once she died.

So the grandfather moved in with the granddaughter and she was taking care of him with help from my mom occasionally. The grandfather still had his own house but, he just couldn't live alone anymore. He just passed away last week. So now the granddaughter has TWO HOUSES PAID OFF She's going to likely sell it or rent it out. Black people don't get comeups like that. This doesn't even get into the money and insurance policies they left her, along with probably making sure she got through school. It's just crazy how much better they have it.

 

[ahdsend]

Generational wealth. People talk about being entrepreneurs. You need some financial backing to do that. Blacks have too much to risk. Likely do not have parents to fall back on or other family members. Don't have the connections either. Hard to take risks when you have no money. White kids can be career students or interns. They have that backing for the most part. I see nothing wrong with parents helping kids. You see this in other communities, not just white. Sadly many blacks have the burden of working to help other members of their family. You ever hear white folk talking about having to give their parents money? Rare.

I still preach education is the key at evening the playing field. He'll learn a trade if schools ok isn't for you.

What is annoying though is people who already have the cheat codes of life having the ability sanity to judge those that don't even know how to play the damn game. I had to work when I was in school and to pay my way. Worked mostly in the summer while white kids were travelling the world all paid for by mom and dad. That advantage is immeasurable.

And it isn't about complaIning but these advantages should be acknowledged.

yea we gotta start over again... all the hard work our ancestors did for 100 years after slavery was wasted

baby boomers threw it away in ONE generation


once we get rollin, our job gonna be easier than its ever been

cause we got more opportunities to make money and advertise wit social media...

but its gonna be harder for us to get outta the gate, cause the boomers completely fukked up our family structure and communities...

its a different kinda obstacle... with this generation first step is gonna be the hardest...

 

[Turbulent]

shyt is scusting.

My mom helps take care of this guy on the weekend. He was 93 years old and couldn't take care of himself anymore so he moved in with his granddaughter.

His daughter, the granddaughter's mom, had died already.

His daughter had given the granddaughter her house PAID OFF once she died.

So the grandfather moved in with the granddaughter and she was taking care of him with help from my mom occasionally. The grandfather still had his own house but, he just couldn't live alone anymore. He just passed away last week. So now the granddaughter has TWO HOUSES PAID OFF She's going to likely sell it or rent it out. Black people don't get comeups like that. This doesn't even get into the money and insurance policies they left her, along with probably making sure she got through school. It's just crazy how much better they have it.

it's strategic. but we gotta get into a mindset where, even if it didn't happen for us, we'll be the first one to set it up for the next one. no family tradition existed for ever. some man or woman had to start it at some point. sometimes that someone has to be me.

 

[Reality]

I'm black.

I won the lottery with my parents, straight up. Especially w/ my pops because he's the breadwinner. My mom's a nurse...decent bread, but not great. All in they probably make about $170-$180k a year.

I went to a PWI that costs about $250k for four years. I only had to pick up $17k in debt. Uncle Sam picked up some of that, but most of it was pops.

I'm now in grad school and guess what? He surprised me with another $30k. Paid for with a fund he started while I was in Kindergarten. He also gave me a no interest loan on top so I didn't have to ask for as much from the banks. #blackexcellence #blackfatherhood

I love my mom, but she really doesn't know a ton about investing. She just knows to follow my pops lead and save when he says save. She still has nice shyt though.

Hold up wait...

#GMB?

Anyway...

That's why I'm busting my ass at 5:30 in the morning right now. Unless I really fukk up, I should be making around what my pops makes at 57 when I graduate--at 27. If I really do well, I'll be making more than what they both make combined. I wanna show my parents that offer letter.

That's why the last thing I'm in a rush to do is go live in some expense city and blow the money I'll make on thots and gear. First priority is stacking my paper so that whatever happens with my parents, in 10 years, I can take care of them no questions asked. This expectation has never been communicated to me, nor do I have the impression its needed based on some of the stock trades my pops was talking about over Thanksgiving , but I wouldn't be worth shyt as a son if I didn't think like that anyway.

Also, my pops never sold out or became some 1%er corporate villain to do all this...he has a STEM background and has never had to manage anyone. The man's discipline and thriftiness is just out of this world.

All this is just to say...really, I got lucky.

We should all be doing our damnedest to make sure our kids get lucky too.

I forgot all about this post

But it happened brehs. I got a job offer earlier this summer...I'm set to make 2x what my pops makes if I accept. As I was texting my pops to share the good news, he beat me to the punch with a text saying how proud he and my mom were of me. I was so happy. So blessed. Hit him right back with a screenshot of the offer. Called him that night and thanked him and my mom for their sacrifice. #blackexcellence

To the wider discussion, this thread highlights why reparations are needed for justice. We need to make it happen soon or it won't happen ever. I know there are doubters, but there's never been a significant push for such a thing. If black people were to hold out support for democrats based on this being part of the platform, they'd at least have to pay attention.

 

[mamba]

Generational wealth. People talk about being entrepreneurs. You need some financial backing to do that. Blacks have too much to risk. Likely do not have parents to fall back on or other family members. Don't have the connections either. Hard to take risks when you have no money. White kids can be career students or interns. They have that backing for the most part. I see nothing wrong with parents helping kids. You see this in other communities, not just white. Sadly many blacks have the burden of working to help other members of their family. You ever hear white folk talking about having to give their parents money? Rare.

I still preach education is the key at evening the playing field. He'll learn a trade if schools ok isn't for you.

What is annoying though is people who already have the cheat codes of life having the ability sanity to judge those that don't even know how to play the damn game. I had to work when I was in school and to pay my way. Worked mostly in the summer while white kids were travelling the world all paid for by mom and dad. That advantage is immeasurable.

And it isn't about complaIning but these advantages should be acknowledged.

It's hard to develop a Facebook in your dorm room when you're busting your ass, working for money just to put food in your belly during college.

A lot of brehs send me resumes for review. You're spot on. Usually, instead of summer internships and summer research experiences, they have retail, fast food and other shyt listed.

A lot of these non-Black kids are graduating with 2-3 summer internships (paid and unpaid) under their belts.

It's hard to compete when your resume is looking like a high school kid's versus a person who has had various experiences in corporate America.

 

[semtex]

My dad is 68 with no damn money I started my career 2 years ago and the first thing this dude asked me for was an expensive ass giant tv.

I found out recently my mom raised me on just a couple thousand in savings. Like around the amount I keep in checking

I'm significantly more well off than my parents so I do try to help

 

[JLova]

It's hard to develop a Facebook in your dorm room when you're busting your ass, working for money just to put food in your belly during college.

A lot of brehs send me resumes for review. You're spot on. Usually, instead of summer internships and summer research experiences, they have retail, fast food and other shyt listed.

A lot of these non-Black kids are graduating with 2-3 summer internships (paid and unpaid) under their belts.

It's hard to compete when your resume is looking like a high school kid's versus a person who has had various experiences in corporate America.

And nowadays employment is more about who you know. Welp, black people aren't competing with that. So the cycle just continues. What's good is more blacks are going to school. I'm hoping that translates into black owned companies and maybe the playing filed will tilt back towards where it should be.

But the saddest thing of all is white folk don't even recognize their privilege.

 

[JLova]

yea we gotta start over again... all the hard work our ancestors did for 100 years after slavery was wasted

baby boomers threw it away in ONE generation


once we get rollin, our job gonna be easier than its ever been

cause we got more opportunities to make money and advertise wit social media...

but its gonna be harder for us to get outta the gate, cause the boomers completely fukked up our family structure and communities...

its a different kinda obstacle... with this generation first step is gonna be the hardest...

They fukked up too but blame should be spread around. Systemic racism is why we are where we are. Even if we got a whole whack of money, as long as we have systemic racism, nothing matters.

 

[Orange cream shake]

This is not a millennium thing, this is a class thing. Those who grow up with well off parents, even when they leave the house still benefit from their parents wealth.

 

[Spacely Sparkus]

Black parents have a way of killing dreams like no other group of parents.

Hence, one of the reasons we have so few Black entrepreneurs. And probably why you'll never see a young, Black American launch a Facebook, Microsoft, Airbnb, Google, Uber, etc. We don't have the same support structures other people do. We are too afraid to take entrepreneurial risks because 1) we don't have the support and 2) if we do fail, all we'd get is a bunch of "I told you so" shyt. Most brehs and brehettes just settle into a routine in corporate America, while our non-Black counterparts blow us away in terms of creating sustainable enterprises.

The bolded specifically lol its actually crazy when you think about it. I can't even tell you the amount times I went hungry being in college, while the white kids I knew even had fukkin' booze allowances . The thought of even having a kid in my twenties is so far fetched to me now. Dreams and paying bills requires no sleep being black. Just gotta soak that shyt up and keep it moving.

 

[Benjamin Sisko]

my son just turned 18. i told him that after college, he needs to come home and stay about 5 years to get his shyt together. get the career going, save to BUY a crib (no rental houses/apartments), and stack bread to set his bank account up. i left as SOON as i was able to pay bills on my own. didn't stay long enough to stack money or anything. took me a MINUTE to get it together. i want him to leave the house with everything already together. fukk what others have to say about it.

This how my father and mother was about me. Leave until I was ready and dont give your money to a landloan, save until you can buy a house. Good shyt.

 

[JoogJoint]

I don't think anyone is desiring to be fully supported by their parents. No self-respecting adult should desire that!

What people are alluding to is the fact that other ethnic groups have their kids' backs, even if they don't need it. That's a feeling that gives you a different level of confidence to take risks.

For example, one of the many reasons cacs and other ethnic groups are killing it in the startup game is because their parents will provide them with temporary support while they pursue a new venture.

Non-Black computer nerd: Mom and Dad, I have a cool idea for this new startup. I want to dedicate myself to it for the next year. This will mean I'm quitting my job.

Non-Black parents: If that's what you truly want to do, we'll do what we can to support. Let us know.

Black computer nerd: Mom and Dad, I have a cool idea for this new startup. I want to dedicate myself to it for the next year. This will mean I'm quitting my job.

Black parents: Boy, are you stupid? Leaving that good corporate job to do what exactly? is a startup? How are you going to pay your bills? How are you going to put food on the table? Where are you going to stay?

Black parents have a way of killing dreams like no other group of parents.

Hence, one of the reasons we have so few Black entrepreneurs. And probably why you'll never see a young, Black American launch a Facebook, Microsoft, Airbnb, Google, Uber, etc. We don't have the same support structures other people do. We are too afraid to take entrepreneurial risks because 1) we don't have the support and 2) if we do fail, all we'd get is a bunch of "I told you so" shyt. Most brehs and brehettes just settle into a routine in corporate America, while our non-Black counterparts blow us away in terms of creating sustainable enterprises.

Ironically, when a breh does hit it big, the whole Black family and extended family comes with the as if they were staunch supporters from the jump! nikkas didn't contribute toward tuition, books, startup costs--nothing. But, think they are entitled to the breh's riches!

@Thomas @Wild self
@Niklaus
@Reinscarf
@PhonZhi

I can relate to this so much. I regret letting a lot of older Black People my hopes and dreams because it followed so much negativity and jealousy.

 

[Skrilla]

The fact that so many here immediately took this thread as people want live under their folks forever is telling. I didn't gather that from the original post. And yet it got interjected in order to derail. What will it take for folks to understand that what we have been doing isn't working?

My thoughts exactly.

 

[GoFlipAPack]

I have three different coworkers 2 females (married) 1 male (single) all white mid 20s to early 30s and there parents do stuff like this

-all there parents pay there cell phones
-one of the girls the parent pay her child care
-other girl her parents pay half her mortgage

Ain't that a bytch. Man my parents ain't shyt. I'm bout to toss them in the bushes

 

[Amerikan Melanin]

I forgot all about this post

But it happened brehs. I got a job offer earlier this summer...I'm set to make 2x what my pops makes if I accept. As I was texting my pops to share the good news, he beat me to the punch with a text saying how proud he and my mom were of me. I was so happy. So blessed. Hit him right back with a screenshot of the offer. Called him that night and thanked him and my mom for their sacrifice. #blackexcellence

To the wider discussion, this thread highlights why reparations are needed for justice. We need to make it happen soon or it won't happen ever. I know there are doubters, but there's never been a significant push for such a thing. If black people were to hold out support for democrats based on this being part of the platform, they'd at least have to pay attention.

Are you an only child? Beautiful story bro much more success to you and your family.