do their fathers get Prima Nocta too???
Posted on 02/11/2020 3:44:00 AM PST by rightwingintelligentsia
A national survey conducted by Loandepot finds 77 percent of Millennial and Gen Z-ers are expecting financial assistance from their parents to purchase their first home.
The most common expectations included help with a down payment (38 percent), co-signing the mortgage (31 percent) and helping with closing costs (24 percent).
Of those expecting down payment assistance, the majority of respondents were looking for less than $10,000.
Alarmingly, 18 percent of parents responding to the survey who indicated they would help their children also said they were putting their retirement on hold to do so. Parents whose children were still living at home were the most willing to put retirement on hold until their nest was empty.
(Excerpt) Read more at wpxi.com ...
Yeah, duh!
When our youngest daughter is 20, I will be 65, and my husband will be 69.
Also, I don’t understand why we’re “alarmed” that some older adults are delaying retirement, given the nation’s underreported but growing issue with pension underfunding.
Millennials, Gen-Z expect parents to help pay for first home, according to survey
Well then, you better commit to taking care of them in their old age...
oh lord. I don’t know how you do it! My husband was the tail end of two marriages and about 14 kids. By then his parents had pooped out and were too tired to discipline (my husband who is let’s say not the fold your napkin sort)
I had my last child when I was 27 and it was fairly tiring then, but at that time I was a divorced mom of two and working two jobs so that could account for some tiredness, I guess.
I’m 59 now and have been working full time non stop (no maternity leave nor child support) since I was 17. I have one more year to go before I retire from my “main” job.
I'm closer to 80 than 70, but I'm still working because when I retire I trade a $193k salary for a $13k pension. It doesn't seem like a good financial trade off just to be able to sit around the house.
oh and p.s. my grown children bought their own houses without asking me for a penny. Now we do help out with repairs or advise on purchases/remodeling.
My folks didn’t make this offer and I’m not going to make this offer.
Same here; I doubt many parents are able to. I work with many people approaching retirement age who are helping their adult children pay off school...
I’m fortunate to enjoy extremely good health and thrifty habits. My older children sometimes complain that their little sister is a brat, and I reply, “This from YOU!” and then we all tell stories about what a nightmare Brother X or Sister Y was. Fun times!
Best wishes for a comfortable retirement!
Especially if you don't feel like sitting around the house. Many of my friends in their 70s put in nearly a full time job of volunteering at church or other organizations, although I guess it's easier to take a vacation from that than from an employee position.
This is what happens when parents do not teach kids responsibility when growing up. This is why they are for socialism.
That is not surprising. My wife is still paying her daughters and SILs rent, car costs, and his tuition. They are both in their 30s. Of course the alternative is they could move in here (once I ran out of ammo.) So, coincidentally yesterday, DIL said they were thinking of buying a house rather than paying rent! When my wife got off the phone, I pointed out they can do what they want once they have the down payment and a job because the gravy train is out of fuel: no down payment, no cosign, no paying mortgages, NADA. I pointed out to her that she is subsidizing them with the intent they will become self sufficient when his latest career path gets going. When he graduates, his job pay will somewhat exceed our help plus benefits they get so in effect, he will get an income cut. Encouraging them that a house is right around the corner without assistance is not going to happen frankly because we cannot financially afford to keep this up without going into debt to do so. Perhaps I need get Dave Ramsey’s advice!!
If I'm going to work I intend to get paid for it.
I have to laugh. How pathetic.
Entirely reasonable.
do their fathers get Prima Nocta too???
That’s revolting. Who even thinks about something like that? EEEEEEEEW.
That’s why I do lawn maintenance and pool maintenance, so I can pay for my own house. My Deplorable parents will help me, but I think if you want to be independent, you shouldn’t have parents buy it...
Not mine. All moved out by 20, one was 18.
All living independently.
We have loaned them money for education etc but told them long ago we’re not paying their way.
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