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  1. #1
    Seriously Delirious Udog's Avatar
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    Default If parents financially help their adult kids, what happens in the future?

    One thing I've recently noticed is a prevalence of parents financially supporting their 25-45 year old adult children. These are perfectly healthy, college educated children that often are married and have families. Yet, these parents frequently have to give their adult children money and other items so the family, and their grandchildren, can be in a stable and healthy home.

    It makes me wonder... what happens when the parents pass away, and the grandchildren become adults and have their own families? It seems likely these grandchildren will also need help, but their parents will be unable to provide it, since they've always depended on THEIR parents to make ends meet.

    Do you think this will be common enough that we will have to face it in 20 years? What do you think this will do to society in general?

  2. #2
    The Architect Alwar's Avatar
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    Riots and policy reform.

  3. #3
    Seriously Delirious Udog's Avatar
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    Quote Originally Posted by Alwar View Post
    Riots and policy reform.
    Policy reform!? You know, you can exaggerate a joke to the point where it becomes far fetched, even for humor.

  4. #4
    Nerd King Usurper Edgar's Avatar
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    Quote Originally Posted by Alwar View Post
    Riots and policy reform.
    Cats and dogs! Living together!
    Mass hysteria!
    Listen to me, baby, you got to understand, you're old enough to learn the makings of a man.

  5. #5
    The Architect Alwar's Avatar
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    After the riots, yes. Right now people can rely on their parents but when the boomers lose their pensions and 401k it's going to be all assless chaps and regional tribal warfare.

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    The Architect Alwar's Avatar
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    So what are your plans for the aftermath, I want to be that long-faced Aussie flying the gyrocopter around.

  7. #7
    Plumage and Moult proteanmix's Avatar
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    My God, the number of my coworkers aged 23-35 whose parents have bought them condos and furnished the damn thing is astounding. No joke, I'm envious.

    People don't manage their money very well and no one really wants to think about it. I started to read tax codes for 2009 earlier this year but gave up a few pages in. Most people are intimidated by the practicalities of managing their money, not just paying bills and creating and sticking to a budget. There are so many factors that go into money management that it can be overwhelming, at least it feels that way to me. I can see why people would prefer their parents to still basically take care of that aspect of life for them.

    I think there needs to be more financial literacy and education programs available starting when you get to high school in America so the concept of MONEY isn't so abstract. I know when I first got to college I filled out a form for a credit card and seriously fucked myself up because I didn't know. My parents had to pay off the credit card bill twice and I was so afraid of credit I didn't get another cc until five years later. If I had known/been taught how to manage a credit I would've handled getting a credit card with no parental supervision more maturely.

    Also more financial documents need to be written in plain language so people can understand without needing an MBA.
    Relationships have normal ebbs and flows. They do not automatically get better and better when the participants learn more and more about each other. Instead, the participants have to work through the tensions of the relationship (the dialectic) while they learn and group themselves and a parties in a relationships. At times the relationships is very open and sharing. Other time, one or both parties to the relationship need their space, or have other concerns, and the relationship is less open. The theory posits that these cycles occur throughout the life of the relationship as the persons try to balance their needs for privacy and open relationship.
    Interpersonal Communication Theories and Concepts
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  8. #8
    On a mission Usehername's Avatar
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    Quote Originally Posted by proteanmix View Post
    Also more financial documents need to be written in plain language so people can understand without needing an MBA.
    My dad is pretty convinced that this is intentional, because it facilitates people who know how to work the system keeping the power and control. I see his point. What kind of people voluntarily give away their power?
    *You don't have a soul. You are a Soul. You have a body.
    *Faith is the art of holding on to things your reason once accepted, despite your changing moods.
    C.S. Lewis

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    Senior Member ceecee's Avatar
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    When my oldest son got his first job, I went with him to open a checking account and savings account (he was 16). He did some research, chose the bank, I was just there to answer questions and oversee. The woman at the bank said she rarely sees any parent coming with a teen child to open accounts, let alone parents teaching their children basic banking and money management at all. She said it was frightening how ignorant young people were of these everyday things and I agree. Fortunately he's very sensible and responsible with his money but I know a lot of kids who aren't and the parents keep bailing them out, not making them learn how to handle money.
    I like to rock n' roll all night and *part* of every day. I usually have errands... I can only rock from like 1-3.

  10. #10
    Senior Member Chunes's Avatar
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    It's a matter of perspective. The way most of the western world has lived in the past 60 years or so is an aberration from a long history of families living together. Financial/emotional/physical needs are better taken care of in a group that cares for each member. There is nothing wrong with parents financially supporting their children, but it's really nice if the children return the favor and behave gracefully and gratefully for the assistance.

    There will come a time when we will no longer be able to live the way we do today, and it would do our society well to learn how to function as groups again.
    "If you would convince a man that he does wrong, do right. But do not care to convince him. Men will believe what they see. Let them see."
    Thoreau

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