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

[h2o_proof]

Peeps in here on some "mommy and daddy need to help me be grown"

As a dude, with nuts and pride, I always pushed to be independent from a young age. From the time I could start working, I was making money one way or another. Even as a teen, I stopped looking to mom for clothes and spending money. I just wanted to be the kid that was doing more than the other kids. As I grew, this feeling only became stronger.

I can understand the sentiment of wanting parents to be a safety net. And I agree that they should be that. But paying bills consistently and financing a lifestyle is a bit much. Adults need to be adults.

I plan on leaving assets behind for my future children, but they will be expected to make their own way in this world. Sure, I will help them get their first place, but they will be paying the rent and expenses month to month. I will help them get a foundation, but they will have to maintain it on their own. I plan on helping them build, but they won't be 33 years old living in my basement.

Parents should help you out of the nest and teach you how to fly. Not build the entire nest, hatch the eggs and raise the chicklings for you.

Peace

I get what you're saying and definitely agree, as a man you gotta stand on your own two feet. At the same time though, you gotta be careful when you spread that message because many of us take that "independent/self-made" mantra to heart and it ends up being a detriment. Our strength is in numbers, and only 1 out of 5 million of us will ever be "independently wealthy" (meaning wealth created outside of a cooperative effort), those odds create an unhealthy level of competition that defeats the purpose. Parents should not be paying for your clothes, or providing spending money or financing a lifestyle, again I agree, but lets be clear that the intent of parents providing financial assistance to their adult children should NEVER be on some superficial shyt like that in the first place. The purpose should be to allow your adult children to save and get a head start, meaning as a parent,I'm all in your business because I have a vested interest in making sure that saving your money is EXACTLY what you're doing. Some kids don't need that, fair enough, but again just wanted to qualify the intent of your statement.

 

[intruder]

Its a white thing because they got like a 400 year head start bro. We're not only battling the late start, but we're also battling conditioning. Many of us are doing the right things, but that's only those of us who know better. There's still so many of us that are ignorant to how to build and maintain wealth. I don't think there's necessarily a problem, as you pointed out, more so we fail to spread this type of information. Its naive to assume this is "everyone's goal" because so many still don't know, but you're a smart brother so I'm sure you empower and educate as many people as you can on this topic so I salute you.

Pardon my ignorance but i didn't know this was something people needed to be taught.

I'm Haitian, grew up in Haiti and didn't move here until i was a teenager. Having been here 20 years ive adapted to the lifestyle here but some things about the "black community" still don't quite make sense.

Parents taking care of children/family is a basic thing across the world. Parents passing on their wealth, as little as it may be onto their offsprings is a basic thing across the world. Where I'm from when you die anything you have go to your children. Cars, land, houses. On the downside you sometimes have brothers and sisters killing each other (as in commit murder) over inheritance too. I guess with the system here you have good and bad.

My dad passed away and left us 3 houses and a land lot. I also inherited some from my granddad. But while it sounds like much, if i was to sell them and convert the money to U.S. dollars and use it here it would almost be NOTHING.

 

[mcdivit85]

I get what you're saying and definitely agree, as a man you gotta stand on your own two feet. At the same time though, you gotta be careful when you spread that message because many of us take that "independent/self-made" mantra to heart and it ends up being a detriment. Our strength is in numbers, and only 1 out of 5 million of us will ever be "independently wealthy" (meaning wealth created outside of a cooperative effort), those odds create an unhealthy level of competition that defeats the purpose. Parents should not be paying for your clothes, or providing spending money or financing a lifestyle, again I agree, but lets be clear that the intent of parents providing financial assistance to their adult children should NEVER be on some superficial shyt like that in the first place. The purpose should be to allow your adult children to save and get a head start, meaning as a parent,I'm all in your business because I have a vested interest in making sure that saving your money is EXACTLY what you're doing. Some kids don't need that, fair enough, but again just wanted to qualify the intent of your statement.

I agree, and I do believe that parents should help their children get on their feet and build a foundation to be self-sustaining adults. But paying rent, buying cars and paying utilities on a continual basis for grown adults? And those grown adults expecting that sh#t and budgeting it into their monthly numbers? That's a bit much.

Peace

 

[Giselle]

how are you gonna be an adult when you have no responsibility? they don't think it's important for a grown up to be able to pay their own bills and support themself????

I am in school and responsible for my grades. Maybe things will change after I graduate and get a real job.

I don't have any bills other than a phone bill, I think I'm about to have a car note soon If they buy me a newer car, and I do have to pay for school, I think they make too much for financial aid. They will pay it all though. I still live with one of them.

I will pay for anything outside of that that I want unless they offer to pay for it, which they have been. I don't see anything wrong with that.

 

[beenz]

I am in school and responsible for my grades. Maybe things will change after I graduate and get a real job.

I don't have any bills other than a phone bill, I think I'm about to have a car note soon If they buy me a newer car, and I do have to pay for school, I think they make too much for financial aid. They will pay it all though. I still live with one of them.

I will pay for anything outside of that that I want unless they offer to pay for it, which they have been. I don't see anything wrong with that.

ok, I thought u were some kinda super grown adult still off ur fam. carry on for the time being......but if you still pullin these shennanigans after you get a real job....

 

[j.smooth4]

This is more of a thing for hoodrats who have kids between 18 to 25 and want to be the cougar in the club. I'm black and I've never heard anyone's parents I know say this.

I remember my dad saying that when I was 16.

lol a lot of black kids in college I knew got treated like this stories I've heard
-Paying for bus tickets and plane tickets back home
-When they came to to visit back in college one persons parents made them pay 20$ for a ride from the train station another made them pay half the bill when they went out to eat
-A lot of people when they had their parents visit they paid for the expenses to visit hotel/food/$.
-One person had their mom stay in their shared dorm room when they got evicted for nearly two months
-Nearly every black person I knew paid their own cell bill, clothes, books, food etc a lot of whites didn't
-A lot had to pay the school health insurance because their parents cut them off of theirs after 18
-A lot who commuted paid for their car insurance
-No Christmas Gifts or Birthday gifts after 18
-One persons parents made apply for credit cards and used them for themselves and left the kid with thousands in bills that took 2 years to pay off
-A lot of people had to forgo school and work or join the military because their parents couldn't or wouldn't co-sign a loan
-A lot of people had to pay for their ownapplication fees
-One dude I knew didn't go to graduation because he'd rather work and his family didn't help with shyt
-No graduation gifts maybe a card if your lucky
-Everyone paid rent when they moved back in after graduating
-A lot were given full paid scholarships because they're parents either didn't have the income or weren't present in their lives
-A lot were late on their rent and bills while in college
-A lot of people i knew starved before getting their refund check from the school
-People working 2-3 jobs while trying to take full time classes


White peoples parent actions
-I was amazed when I moved off campus how many white people's parent's paid their rent in full with utilities
-A lot of white parents paid frat/sorority dues
-Some paid for school in cash or where given cash if they got over a 3.0 or if they just passed
-A lot whites when they graduated either were bought a car or had a down payment on a house or where given the keys to a business
-One white dude i knew was given 100k in cash for graduating


I've personally experienced about half of those things on the first list so I know it's true.

Our generation of parents did some sorry ass shyt and they let the system become fukked up with this high ass rent/utilities, inflated economy, no middle class jobs, the college dream/illusion, messed up court/legal system, and high cost medical care.

We can't let that shyt happen to our generation of childern

 

[Michael9100]

One problem that got looked over; young black people aren't marrying each other...

 

[j.smooth4]

People need to just admit that they're lazy and that's that. You stay with your parents because without them you'd be homeless. Keep telling yourself it's genius move that necessary to come up, yet your situation remains the same day after day.

How is someone who is black working a 30k-40k a year job entry level job living at home called lazy in the black community.
Then I know a white guy who makes 120k as a programmer living with his parents and called responsible and smart for saving his money in the white community.

FOH


People need to realize the days of turning 18 applying to the local factory and having enough money to buy a house, have two cars and get married by 21 are long gone.

The most successful people I personally know continue a financial relationship of dependence with their parents until 25-30.

I remember talking to an old white guy at work saying these words

"I've pretty much lived my life I'm over 50, I've bought countless cars, been married twice, have 3 kids who are over 18, my wife and I have over 2 million in retirement, 2 houses paid off, a nice comfortable job. I'd call that a good life wouldn't you? What good is money to me at this point in my life? I've lived it. I'm not going to hand my kids money I'm going to throw it at them. I've lived my life. I don't want them paying for any living expenses or bills until they are ready. I don't understand why African Americans take so much pride and give so much respect in struggling."

Had me on the inside like

 

[PAWG connoisseur]

I remember my dad saying that when I was 16.

lol a lot of black kids in college I knew got treated like this stories I've heard
-Paying for bus tickets and plane tickets back home
-When they came to to visit back in college one persons parents made them pay 20$ for a ride from the train station another made them pay half the bill when they went out to eat
-A lot of people when they had their parents visit they paid for the expenses to visit hotel/food/$.
-One person had their mom stay in their shared dorm room when they got evicted for nearly two months
-Nearly every black person I knew paid their own cell bill, clothes, books, food etc a lot of whites didn't
-A lot had to pay the school health insurance because their parents cut them off of theirs after 18
-A lot who commuted paid for their car insurance
-No Christmas Gifts or Birthday gifts after 18
-One persons parents made apply for credit cards and used them for themselves and left the kid with thousands in bills that took 2 years to pay off
-A lot of people had to forgo school and work or join the military because they're parents couldn't or wouldn't co-sign a loan
-A lot of people had to pay for their application fees
-One dude I knew didn't go to graduation because he'd rather work and his family didn't help with shyt
-No graduation gifts maybe a card if your lucky
-Everyone paid rent when they moved back in after graduating
-A lot were given full paid scholarships because they're parents either didn't have the income or weren't present in their lives
-A lot were late on their rent and bills while in college
-A lot of people i knew starved before getting their refund check from the school
-People working 2-3 jobs while trying to take full time classes


White peoples parent actions
-I was amazed when I moved off campus how many white people's parent's paid their rent in full with utilities
-A lot of white parents paid frat/sorority dues
-Some paid for school in cash or where given cash if they got over a 3.0 or if they just passed
-A lot whites when they graduated either were bought a car or had a down payment on a house or where given the keys to a business
-One white dude i knew was given 100k in cash for graduating


I've personally experienced about half of those things on the first list so I know it's true.

Our generation of parents did some sorry ass shyt and they let the system become fukked up with this high ass rent/utilities, inflated economy, no middle class jobs, the college dream/illusion, messed up court/legal system, and high cost medical care.

We can't let that shyt happen to our generation of childern

And then again I live in the burbs of Atlanta so my experience is probably skewed

 

[Doomsday]

Then I know a white guy who makes 120k as a programmer living with his parents and called responsible and smart for saving his money in the white community.

He's a lame white boy.

People need to realize the days of turning 18 applying to the local factory and having enough money to buy a house, have two cars and get married by 21 are long gone.

True.

The most successful people I personally know continue a financial relationship of dependence with their parents until 25-30.

I've never met anyone who's made a legit six figure income yearly that lived with his parents. Even that rich guy that lived in Vegas frugal stayed in a trailer by himself. People who live with their parents are dependent on their parents, even if they make enough to live on their own, they mentally don't have it. They are lazy and lame more often than not.

"I've pretty much lived my life I'm over 50, I've bought countless cars, been married twice, have 3 kids who are over 18, my wife and I have over 2 million in retirement, 2 houses paid off, a nice comfortable job. I'd call that a good life wouldn't you? What good is money to me at this point in my life? I've lived it. I'm not going to hand my kids money I'm going to throw it at them. I've lived my life. I don't want them paying for any living expenses or bills until they are ready. I don't understand why African Americans take so much pride and give so much respect in struggling."

What does this have to do with being dependent on your parents?

Had me on the inside like

You should react that way. He straight up dissed you and blacks in general.

 

[j.smooth4]

One problem that got looked over; young black people aren't marrying each other...

I think a lot of black people still get married but the best of us financially usually marries interracial.

 

[havoc]

shyt is fukked up. Smh my parents dont even have insurance so I dont even know how we will manage if either of them die before me and my lil bro start our careers. That is why im learning Forex and Binary Options cuz im gonna take a playbook of white folks. Struggling aint easy. That is why i keep saying being broke isnt fun because I know what it is like.

I know where you coming from, breh. The struggle is no joke. In order to make it in this cruel society, you have to be opportunist and take advantages of every opportunities that is given to you.

 

[Wild self]

One problem that got looked over; young black people aren't marrying each other...

Marriage with the feminist laws never benefits men. Educated black men see that shyt and they drift away. Plus the whole "30 is the new 20" thing and that's why you see so many people of Gen Y living like college students in their 30s.

But black folk got to start having insurance on life and start living below what they make, for at least a few years. We care what our irrational peers say too much.

 

[Amerikan Melanin]

Black people know nothing about generational wealth. This is why we stay falling behind while spending the most money of any demographic.

How many of you dudes have life insurance?

How many of yall have a 401K or stocks? Real Estate?

 

[Behind-the-wheel]

The gap is widening though...Black folk are catching on...

I knew this one black family where the father and mother paid for EVERYTHING for their children.
When I say everything...I mean EVERY-FKN-THING!!!
Weddings, cars, houses, apartments, court costs, divorce costs, tickets, bills, clothes, watching their kids 7 days a week 24/7, you name it...
Even did the thing where they retired south and sold their house and bought their least responsible kid a house with the money and gave the leftovers to one of the others.
And these grown ass kids STILL asking for help!!!!!


I'm laughing...them kids had their damn hands held they whole lives into their 30's and know nothing of real life or struggles or rolling solo.
Reality about to bytch smack em for real...