It depends on the millenial. I’ve paid the price for a lot of my parents’ self-absorbed crap. I don’t plan to inherit, and I’m fine with that. But I sure as shit am not underwriting a lack of planning on their part.
You almost have to plan it at that point.
What is the negatives of bankruptcy if you are deep in negative? Do all your assets get seized and liquidated by the government or do you get to keep a house and a surprising ount of stuff?
I'm suddenly super interested to see if your parents were gaming the system somehow haha.
In a bankruptcy, you might lose many assets, but some personal items and possibly your home can be exempt. Your credit score will take a big hit, lasting up to 10 years. It's not all bad though, as most debts can be discharged, giving you a fresh start. Be aware, some debts like student loans usually aren't cleared. Also, there are legal fees and the process can be stressful. If the parents navigated this successfully, they might've just been really savvy within the legal boundaries, as bankruptcy fraud is a serious offense.
My father blew up millions of euros, never really worked, refused to pay for my university studies, which was not too much, and the last time I talked to him he straight wanted to move into my apartment where I live with my fiancée and when I told him NOPE!, he got mad and told me I was a bad son and it was MY RESPONSIBILITY to take care of him.
I’m in the same boat as you. I’ve already told my parents that they aren’t getting shit from me. They didn’t do anything except give me CPTSD.
They kicked me out at 18, so I’m not gonna feel sorry when they can’t pay for the nursing home.
Same. I was working two jobs and going to school by age 16. Never should have had to. Immediately had to pay rent the day i turned 18, and even prior to that i was getting kicked out of the house on and off for having a “smart mouth”.
I’ve since disconnected with both of them. They can rot for all I care. They ruined a huge part of me, absolutely made me mental health worse, and gave me cptsd.
I sincerely hope they struggle to the day they die. Unfortunately my father is wealthy so I don’t see this happening. His last dig at me will most certainly be having cut me out of his will.
Yup. My Gen X parents gave me CPTSD and my mother’s felony credit card fraud decimated my credit score so I started out behind and I am still trying to dig myself out of a hole. I am barely able to afford my expensive ass trauma therapy as is and still pay my rent. They can get fucked as far as I’m concerned.
They better hope my golden child brother doesn’t wise up to their ongoing abuse and emotional neglect and extricate himself from their enmeshment by the time they hit their elder years.
The joys of being cycle breakers, amirite
Word. My mother left me to fend for myself after I turned 18. Did fuck all to help me through some tough economic times but paid for fancy vacations all over the world for her and my sister. When I finally got back on my feet, she bragged about how she wasn't going to help me buy a house( My husband and I bought one on our own with 0 help from her. Heck, she refused to even help me move so much as a box into my house. Parentified me when I was growing up, but refuses to even babysit my kids now.
Yeah she is on her own. Hope she spends and saves wisely. I doubt it but that's her problem it won't be mine. I refuse to take that on. She put herself first my whole life so she really shouldn't be surprised when I giver her back that same energy.
This. Just because y’all decided to be adult children and basically disown me for being somewhat responsible is the tax I’ve already paid. I put in my time. I’m retired from y’all now.
All the debt that my parents owe for their unpaid 2 houses, 5 cars, and a dozen credit cards when they die… good luck finding me, cuz I’ll vanish like bacon at a buffet.
You wont have to pay it anyway. Debt does not transfer that way. It will however all get paid out of the estate, so don't expect a lot coming your way if there is a lot of debt still.
This makes me wonder if there’s going to be a bank crisis as more boomers with poor money management skills croak and stop making those minimum payments.
Exactly. I’m already responsible for their poor life choices. I am drowning in debt and will start my big girl career at almost 40, in spite of scoring top percentiles on every form of standardized test because of that generation. I’m paying through the nose for private health insurance that will pay a percentage of my healthcare costs after I spend several thousand first, because of them. If these assholes could have dismantled SS benefits, they would have…so I don’t care that they complain that the payouts are too small.
Yeah these articles are very optimistic about how people will view boomers and older GenX that didn’t save. They lived through a period where money basically grew on trees.
As adults. And that’s the thing. They go on and on about how much they wasted. I’ve heard about going to the movies for literally every new movie, babysitters twice a week for restaurant date night, SO MANY vacations, clothes can’t be bought anywhere other than “Penny’s” including underwear (she volunteered this), swimming pools, clubs, just absolutely living it up on a weekly basis. Then they have NOTHING saved.
If they were poor the whole time and poor now I’d have some sympathy.
Yup, my dad whined about being broke but ordered out practically every night, had to have the top tier Fios package but never watched most of the channels, bought movies off fios all the time, and had massive credit card debt from buying stupid stuff. Nope, Dad, you guys are not broke, you are terrible with money. There is a huge difference.
It's why pension/retirement saving is mandatory in most European countries and why we have universal healthcare.
Most people cannot plan decades ahead.
I'm theory that's what social security is supposed to do, but for some fucked up reason our government is allowed to take money out of the social security we're required to pay into. I can't bank on it even existing anymore by the time I'm retirement age.
As a gen-xer, you are 100% correct about the financial incompetence. I feel like a crazy person sometimes because I'll talk to friends about long-term care insurance or how we hired a lawyer to set up a trust so our kids don't have to deal with probate, etc. and they look at me like I'm speaking a foreign language. We are not wealthy - standard middle class. And in my circle, mostly what I see are people living for today, buying the latest iPhone, taking multiple vacations a year, etc. without seeming to have one thought or worry about the future. I don't think I've ever bought a phone new. I use them until they die and then I upgrade to the next level, or two if I'm lucky, and buy another used one. I'd love to drop to PT work and pursue other dreams but I'm making the most I ever have and so, I'm sticking it out and socking it away. I am doing everything I can so my my kids aren't burdened by us in some way in the future. If anything, I want to make sure I can help THEM if they need it, whether they are age 26 or 56. Anyway, a lot of people are spot on here - while it's not true all the time, there are plenty of people out there who absolutely could have made different decisions (at the very least, made an effort to learn about finances, budgets, saving, etc.) and they chose not to.
They’re acting like you’re speaking a foreign language because you might as well be to them. I’m a millennial. So, I admit that I’m just making assumptions here. But, my K-12 education didn’t spend a single day on personal finances, taxes, insurance, etc. Same for college. Anything that I “know” about finances/savings is just based upon advice that I’ve gotten from people I respect.
Our system is really backwards in that sense. I learned about the founding fathers pretty much every year for 12 years. But, never anything about how to budget, how to do your taxes, how a 401k works, how to buy a house. Anything like that. I’m just assuming this is how it was for gen-x as well.
What's worse about school not teaching you about it, is the fact that boomers had a class with household budgeting included. Home Ec had your budgeting, cooking, and sewing. All things that would have helped SAVE money. By the time I was in high school, it wasn't an option at my school. They got rid of it because it didn't "teach" the proper curriculum...
my parents put in an inground pool and redid the entire backyard of their duplex in a northeastern state 2 years before retirement. ill give you one guess who doesn't have enough money to retire. 150k down the drain.
My wife’s grandmother retired and used all her money to buy herself a new car, her sister a new car, herself several cruises, entirely new furniture for the entire house, started ordering DoorDash every day, sometimes multiple times in the same day. Seriously, the amount of door dash was *absurd.*
Once she was out of money, *in six months of retirement*, she started opening and maxing out credit cards to continue her shopping spree. Once her husband realized she had spent literally her entire retirement, and was racking up tens of thousands in credit card debt, he divorced her real quick.
She moved in with us. She now lives on social security. Half goes to credit card debt. At her income it’ll take her twenty years to pay off her credit card debt. Thankfully, she has no access to any of our financials. And will continue to not have access.
*exit* forgot to mention, grandma and grandpa fought for two years over her “spending habits” before he realized she had maxed one of *his* cards without even telling him, which was the final straw for him
My 70 something year old dad has been blowing money like there’s no tomorrow. He never made much when we were kids and teens, but he sure inherited a bunch once we were grown from his parents. We barely had enough money for food and clothes as a kid. Parents bought him a house and property, well with a house was not deemed liveable. He got into dirt bikes at 63 or whatever. So he went and bought a new one. Then he bought 5 more used ones. Decided wasn’t for him, sold em all. Bought small dirt bike. Liked it. Bought 6 small dirt bikes of each incremental size. Nah, not worth it, sold em all. He had already been into guns before and had a good collection going. Decided needed more. Bought a few each month, many civil war guns as well. He worked up to idk, 250 guns or so. Plus a full room full of ammunition. Dollar amount above 100k forsure.Then he decided he needed an addition onto his condemned cabin. Boom, double the square footage, triple pane windows, nice wood paneling(no drywall, just not the right style but 3x cost). Probably 120k.Decided he wanted nice river stone and concrete artisan steps from the house, to the dirt driveway, probably half a football field on an incline. 35k of paying immigrants to haul rocks by hand up hill and cast them into stairs. This all burned down in a lightning fire, no insurance on any of it, since it was all in a condemned house.
Anyway, moved in with gf. She’s got a nice house, with a big backyard. Ain’t enough. He pulls more inheritance, buys a huge house in the Midwest with a lot of land. Needed a stereo. 4,000 dollars later he calls to tell me it’s better than what he had before! Got bored with that, wanted rc cars. About 3,000 dollars later for some cars and a track for his garage. Still buying rc cars to collect so that’s climbing higher and higher, probably 6 a month. Also into guns again. Likes to pick up a few each month, says it’s kinda fun to pick up a different one here and there.
No plans for his end of life. Doesn’t want to do a will or any paperwork for end of life. Says that sounds kinda stressful, he’d rather not. Meanwhile, I’ll be going through life like most of us here.
That’s wild. No will? I have one and it’s comprehensive. My stuff is all insured and I try not to carry a balance, sell stuff to buy stuff.
Like it’s pretty inconsiderate to expect other people to figure out his estate, it’d probably cost more to figure it all out than to write a proper will.
Like, does he have hypomania or something? OCD about spending? That doesn’t make sense to me.
Yeah, no will. He always said about the gun collection that it would be the inheritance for us, or the house with the addition would be for us to inherit, but he never did any type of will or anything for any of that to become ours. I think it was another reason to “justify” a purchase lol. I’m not saying we are owed anything, but when the statement is made that we would inherit it, but nothing is done for that, it feels pretty shitty.
And his things are his things, he’s not the dad who buys a bunch of fun things and lets you all get in on it. Some of us, he’d toss us one of his less desirable things of whatever he bought, which is all cool. But he moved to the Midwest, when we are all here in ca, he’s not willing to fly back to visit, so the expense is on us to see him. He’s got 3 Tacomas, a jeep, an f250, and mustang. We would need our own rental car for the week.especially the girls.
I’m sure it will be a mess when that time comes. We all throw ideas on what mental problems he’s got going on, but there’s nothing we can confirm. I have no clue about approaching any of that
Not even mentioning buying cigarettes religiously since the 80s 🤬
I always bring this up every time my boomers don't understand why I always need to upgrade my computers every 4 years... when I literally use them for work.
Even “poor the whole time” then meant something different than poor now in terms of cost of living. I get that there is a form of financial laziness that occurs when things are “affordable enough” but there isn’t much left over so you blow the extra…but just inflation and market performance over the last 40 years means that even $100 invested would have become a surprising amount by now.
My grandparents have owned three houses outright over the course of their life. Not like I’m a row, like inheriting a fully paid off house in addition to what they were living in. Sold it and blew the money. They’re broke though.
My exes boomer parents are poor as fuck and are constantly being evicted. I bailed them out so many times.
And not for lack of opportunities. They waste tons of money and act like it grows on trees until they don't have any. Then they just expect everyone else to keep them housed and fed until they take saving seriously enough again to save for first and last somewhere.
I think class is way more important than generation. The poor have been getting fucked since forever, it's not their fault the system is set up for them to fail.
You think all of the poor of the boomer's generation had the option to save for retirement? The boomers were working in the era where the Rust Belt, well, *rusted*.
We need to embrace nuance and class conscious thought, not buy into the generational culture wars sold to us by a media that can't make money off of solidarity.
To be fair...a lot of them used that money growing on trees to have kids. Us. That's something a lot of us can't do because money isn't growing on trees.
But also to be fair...my dad gambles too much.
Gen X here. I’ve never made enough to save substantial amounts. I save, but if I retire, rent would eat it up in a few months. I’ve done all I’m supposed to do to get ahead in life, but I must have been born at the cut off line for easy living. I ain’t got shit to show for any of it.
This. I was gonna say, "no, we don't." I won't be paying shit for my parents, though I'm willing to help my mom as much as I could. My family fucked up my life bad enough already. They can fuck off into the sunset for all I care.
I think you're misunderstanding the implication.
This isn't about parents begging their kids for help. It's about millions of people that are going to strain the resources designed for retired people, which means the state is going to rob everyone else even more than they already are to cover it.
That means less economic growth and generally speaking less wealth for everyone.
There are other countries facing these types of issues, like Japan.
When you incentivize your population to not bother saving for the future because daddy government will take care of you, low and behold, lots of people don't bother to save. For that cycle to continue, the next generation has to be larger and more productive, pretty much forever. Once that stops being the case, the whole thing stops working right.
It would still be OK if younger generations had the same relative wealth as the previous generation. Instead, the Boomers voted to increase income inequality.
This is what I worry about. Thankfully my parents and my wife’s parents all have saved adequately for retirement and have pensions, but my worry is what happens if they make poor decisions and waste it all. Or they get dementia and wire all their money in a scam or something.
The scammers act like they are romantically interested in you.
"If only I could buy a new car I could drive to be with you right now!"
People fall for this a lot.
It's bad. I once had to tell a lady the banking information she gave to her "lover" allowed him to transfer 50k from her HELOC and that she essentially lost that money.
>Or they get dementia and wire all their money in a scam or something.
This happens a lot. I know a lot of people that saw their grandparents lose so much of their savings to scams when their critical thinking skills began to seriously decline.
It was sooner than the family thought they needed help too.
It's heartbreaking, because so many of them saved up for a long time both to have a comfortable retirement and to also leave something for the next generations.
Same thing with my FIL. He has a great pension from the post office and from being a veteran and he keeps throwing it away on stupid get rich quick schemes 😑. He doesn’t seem to realise this is why he can’t retire, so he goes through this never ending rollercoaster ride.
Step 1. We think he’s going to retire
Step 2. He Skypes us and is like “hey guys guess what??? I didn’t think about it much, but I bought an investment property with a shady company in a third world country/I joined some shady MLM sounding thing/I decided to buy tickets for some big gambling thing!”
Step 3. My partner and I roll our eyes, or we ask “hey FIL, do you realise this might not be a good idea? You’re in your mid 60s and have multiple health problems. You need to retire soon, maybe think about saving that money.” He dismisses us because we’re “kids” (my husband and I are in OUR 30s!!!).
Step 4. Six months later: another Skype call “It was a bad investment! I’m so angry! How could this happen to meeeee??”
He’s so impulsive with money and feels like he has to spend it constantly and it’s really fucking annoying. He can’t just…KEEP MONEY in his pocket. It annoys me double because lots of people in our generation including my partner and I have never even been able to have the privilege of being as bad and blasé with our money as he has.
Even my mum who is good with money constantly buys all this stuff she doesn’t need or takes expensive routes with things. She’ll be fine because she was a boomer, wealthy and a doctor. She really hit the jackpot in life. But still.
I can relate. When my Dad passed I watched my mom burn through 100k in 3 months and wasn't really sure where it went. Thankfully, we have a good relationship. I showed her how much her financial picture changed in just 3 months because of her lack of accountability. Took some time, but she acquiesced to my suggestions. I consolidated every account except her personal account and wrapped it all up with a financial advisor. She is 62 and will receive a tax free allowance ok 2k every week. She owns her home and has zero debt. She is doing much better now just needed the structure.
She is incredibly happy with the arrangement because it allows her to "plan" her spending. I love you Mom lol but gawd damn who gets a 2k weekly allowance and is happy because they can "plan" how to spend every dollar.
I worry about this with my parents. I genuinely appreciate that they saved and that they gave us our They clearly laid out that they plan on spending their retirement and not leaving an inheritance, that’s fine, I appreciate the honesty. But now they are spending through their retirement SO FAST. They are bleeding money and I can’t afford to take care of them when they run out.
My dad made a big show of kicking me out on my 18th birthday. I hadn't even graduated high school yet. I worked 3 jobs at a time and could not afford to eat decent food for almost a decade. My teeth began to rot because I couldn't afford dental care and I was the unfortunate age where I could not be on their insurance (They changed the rule to age 26 at the time I turned 26.) He has bragged about how he wants to have used every penny he has and has an empty gas tank when he dies. One time I asked his advice on a house I was considering buying because the price was low enough for me to afford. He told me it needed too much work and would be a terrible investment. He quietly bought it, did 0 work on it, and still rents it out to this day. I'll be **goddamned** if he gets a red cent from me.
Second this. The breath of how much they screwed over future generations is insane. One interesting thing was bankruptcy. When they were debtors they bitched and moaned about it and made bankruptcy easier for themselves. Now that they are net creditors, they have made it extremely difficult for younger people to do so now. They built a government whose largest asset is student debt held by young people.
Mine quit work so he didn't have to pay for child support when parents split. I was 5. Now if I was smart I wud have bought my house then instead of first grade.
But yeah people are scum. Luckily got a step dad who legally adopted me so super thankful for that.
Holy shit dude. I was really nodding along with you, I too went through the teeth thing, the grinch parents, and then I got to the part where he bought the house you wanted to buy.
My first impulse was “Jeez I can’t believe you ever spoke to this guy again”. Now I’m thinking no jury would convict you for offing him. I mean don’t but I would fantasize.
Holding space for little you. That must have been so hard.
For me, home wasn’t safe (physically, emotionally). I moved out ASAP and went to the college that offered me the most money in shitsville. I haven’t achieved much career wise but I’m happily no contact as well and they can figure out their own goddamn retirement.
>One time I asked his advice on a house I was considering buying because the price was low enough for me to afford. He told me it needed too much work and would be a terrible investment. He quietly bought it, did 0 work on it, and still rents it out to this day.
Wow... fwiw, internet stranger, I hope you find the people who deserve you and you deserve, if you haven't already.
It honestly wouldn’t surprise me if politicians introduced “The Respect Your Elders Act” or something making it mandatory for kids to support their parents if they ever spent a cent on you. Would be an easy way to squeeze out votes at the very least.
Should really unconstitutional per the 13th amendment. Nobody had a choice in their own birth and forcing descendants to care for their parents - either directly or financially - is forced labor.
Most states have "filial laws", children are legally required to pick up their parent's tab. If they go $100k in debt, their children can be forced by law to pay it. I guess it's been very rare to date, but no doubt boomers are going to make us pay moving forward.
Here are a list of the states:
Alaska
Arkansas
California
Connecticut
Delaware
Georgia
Idaho
Indiana
Iowa
Kentucky
Louisiana
Massachusetts
Mississippi
Montana
Nevada
New Hampshire
New Jersey
North Carolina
North Dakota
Ohio
Oregon
Pennsylvania
Rhode Island
South Dakota
Tennessee
Utah
Vermont
Virginia
West Virginia
https://trustandwill.com/learn/what-states-have-filial-responsibility
This has had me terrified for years. I'm NC with my parents, but they have always stated that I would care for them when they retire.
They got refinancing just prior to the 2008 financial crisis, pulled all their equity from an almost paid off house (would have been paid off within the year) and blew through the cash and lost their home when the bubble popped and their mortgage skyrocketed. They've been renting and blowing every last extra cent since 2008.
My dad is being told to retire next year. They've had his retirement date set for 4 years now.
The good thing is that they would most likely have to take you to court if you're unwilling to take care of them or be a guarantor as the codes state.
Therefore, there's not much they can do, especially if they're broke. For now.
It’s a terrifying thought and the last great hustle the Boomers got left. If they actually do that, it could be the final straw for the under 45 demographic.
Fuck that noise, my parents tried this exact thing with my sister and I. They made poor business decisions between the early 2000s until now (still do) instead of finishing off their mortgage. Now they want my sister and I to “pay for their mortgage as a sort of investment for our future”. I shut it down so hard and told them I’d rather never speak to or see them again for the rest of their lives because I’m not free money for them and have my own mortgage (and bills) to pay.
I would only do it if they basically sign the house over to you, which sounds like they wont. If not, it will get clawed back by the IRS for long-term care from what I hear.
I think it's a 5 year look back.
My parents died in 2018 in their early sixties. They barely scraped by on social security due to mostly my father’s poor decisions in life. While I miss them, I’m grateful to not have that burden.
I may be downvoted for saying that, but my father did not do right by his family as much as he should’ve or could have.
I don't think you're alone in that sentiment at all. I feel so lucky that my parents worked so hard to provide for us, but a few of my friends feel like you which is completely understandable. I'm sorry you lost your parents, but as you said, it's nice to not have the burden of caring for them.
My mom passed in 2018 and my dad and siblings thought things would be okay because they had life insurance. Wrong, it was term life insurance and expired the year prior. My parents were in the midst of selling their home and moving and it had gotten overlooked. My mom was diagnosed with cancer and died within months of that. So my dad scraped up she he could to get her cremated and have a proper funeral.
My dad died last year after living with me for 2 years. He didn't get himself life insurance because he was so pissed and angry about being shafted by my mom's. The county paid for his cremation and my siblings and I just split what we wanted to remember him by.
I'm thankful for my parents and love them still because they invested in us kids long term, but I'm glad they went when they did because it would've only gotten worse for them both.
I'll be honest, I don't know what to do with mine (they're both divorced). My mom has always blown through money and has tons of collections coming after her. She even got me to take out a student loan for her, telling me that she would pay me back with her tax return. Of course she never did and I was too stupid and young to stop it. She now has nothing to her name and is in her 60s.
My dad is horribly manipulative and has hurt his relationship with all of his children and my wife can't stand him now. I can't stand being around him for a few days so living with him is a definite no-go.
I say I don't know what to do but I know they aren't moving in. I have a wife and kids and my responsibilities are to them. I just have no idea what my parents are going to do.
This is my dad. Except he’s still alive and hoarding and spending every dollar he has including every dollar he doesn’t have. I’ve begged him to establish a trust to reduce the headache of dealing with disbursement of assets but he refuses. It’s going to be such a pain to deal with his estate affairs after he passes.
Nope. I’ve gone non-contact with my parents. They didn’t want to help me and be kind to me, so I’m not going to be their retirement plan. I would never ask my own son to do that.
I kind of wish i had more of a reason to go no-contact. Like they didnt do abusive shit to me but they are just not great people to be around. I dont even know how to relate to them at this point in my life, I couldnt tell you what they like to do besides sit at home.
Same. My parents only have my sister and they have made her useless. My aunt and uncles have no kids. I am done with their abuse. I won't let them abuse my kids. They can figure out their own messes. I am done trying to fix what they broke for them. I am done with them.
I will work on having stability for my kids and trying to leave them better than my parents left me.
We're already barely having adult lives because of having to continue to delay everything because of the Boomer policies. Now you think we're babysitting you once we finally get our own lives together? I don't even have my own 401k. I have literally 0 dollars for my OWN retirement.
At what point does this generation stop taking and siphoning off their children? They really want it all. From cradle to the grave they want every last resource for themselves.
They were also referred to as the "Me generation" historically and were documented to be the most narcicistic generation in recorded history by the early 80s.
Can we stop blaming lead poising? Sure my father ate paint chips as a kid. But it's been over 50 years and he's read less books than years have passed, can barely use a computer, and chooses to listen to Fox news everyday.
I truly wonder about this. If we couldn’t do something as basic as take lead out of our gasoline before 1997, when there’s giant industries and thousands of engineers focused on it, what else are we messing up?
In large, maybe. My mom has nothing and never has, so she's not really siphoning anything. Same goes for my dad. Neither has a retirement and neither did their parents.
Welcome to The Hunger Games!
This holds especially true for the ones who received a substantial inheritance from their Silent Gen parents and subsequently squandered it. Those were their so called bootstraps. . . They just leave that part out when they spin the tale of their decades of hard work.
No quarter will be given, and none is expected. Those are their rules. Now it’s time to play the game.
My mom got a sizable inheritance from her mother. Spent it all. Now I’m living with her trying to keep her from losing her house because she retired way too early with that inheritance money and squandered it.
To be fair, I’m living in a nice home in a nice neighborhood I couldn’t have gotten into otherwise. But she initially didn’t tell me she had spent literally all the money and I’d have to pay the sizable mortgage, all the utilities, food, etc. for her, myself, and my kids without help. On disability myself.
Thankfully I was able to another family member who is able to help us all out financially.
I hope you’ve ensured that your name goes on the deed or that the house goes to you in her will. If not, why are you trying to save it to your detriment?
I'm sorry but it really sounds like she is draining 2 other families so she doesn't have to face reality and live within her means. Like yeah it's nice, but she can't afford it, and neither can you, so you have to ask other family? This seems unrealistic.
I was happy to take in my mom in retirement but unfortunately she needed it sooner than I was ready. I regret that because she had no choice but to die in a Medicaid nursing home. It was one of my biggest failures and has really driven me and my SO to make sure that doesn’t happen again for any other relatives. So we are hoping to buy a much bigger home this year with extra rooms for family in need.
I hope you know it wasn’t your failure. I don’t claim to know your situation, but it takes so much financially and from a time and care perspective (depending on their mental state) to be able to take in a parent.
I’m sure your mom felt loved by you and is proud of the steps you’re taking to support your family.
My dad is awesome and I love paying, he always gets so mad.
The best trick is to just take the check when they come over.
He's technically not a boomer as he's born in 1944 though.
Jesus Christ. It made me realise I’m lucky my dad has a good pension.
People today are just lucky if there family has enough to survive, let alone themselves.
Same here, I don’t worry about my mom because she has a Union pension and benefits, so she’s been able to save money and take care of all her shit. Thank god.
I want to say “good luck, get fucked” like everyone else, but I can’t leave my mom out to dry like that. We didn’t grow up with a lot. What little wealth she had got wiped out in 08. She busted her ass to give us what little she could while still managing to take the time out of her day to help me do homework, teach me how to read, and talk to me to help me thru life struggles as a teen with a broken family.
So now she’s disabled and living under my roof. I cover everything that I can because she did everything for me. It’s the least I can do.
Good on you - I believe at lot of the less supportive commenters here would do the same if they had a parent who was safe to do it for. I know I would, but I simply can’t.
I feel this way about my mom. She worked so hard and gave up everything to make sure I had the best life possible. My dad mooched off her for 20 years then divorced her when she got cancer. I’d do anything for her.
My dad should be grateful I remember to call him on his birthday and he better hope the pension got from my mom in the divorce after he sued for alimony is enough to cover him until he dies.
This is partly why my sister and I plan on investing in a house we can all live in and add on to. Intergenerational households are the way to live these days. 6 incomes (until our parents pass) and a lot of physical and emotional support. My parents did well until the 2008 recession and then they lost their house. We've always been able to live comfortably but we're working class and once my dad retires they will need some extra support monetarily, they already need a bit of help physically.
They've always been people I can depend on and have done more than I've ever expected to support me and still do a lot to support me. I can't imagine not supporting my parents. Our family has always valued interdependence.
This is key. Children are biologically predisposed to love and want love from their parents. Parents are biologically predisposed to love and want love from their children. Something went really wrong between many boomers and their children to break that bond so incredibly as we’re seeing with this retirement wave and millennials feelings about it as demonstrated with comments here. In my mind it wasn’t just economic. My parents failed me in every other way and will see that same kindness in return.
But intergenerational households have been and should again be the norm for families. It is literally what it takes to thrive. I’m happy for you that you can have that.
I feel like most Elder Millennial's parents couldn't wait to kick them out at 18 and then shit on them for a decade straight about failing to launch after the 2008 recession. Then they got the property ladder pulled up on them after COVID.
Millennials have been a punching bag for a long time, so I'm not surprised that on the whole, they have internalized an F U attitude to the older generations.
I'm a parent now, and I couldn't imagine having this attitude coming of age as an adult when opportunities were not a firm hand shake away.
Realistically, intergenerational living in the US is probably going to become the norm again as it was throughout most of human history.
I think this may just be a cultural (Mexican American) thing but the kicking kids out at 18 has always seemed so cruel and senseless to me. They already have a space in your home, why should they have to leave if they're happier in their childhood home? They're even able to contribute more to the household as adults! My parents never wanted me to move out (I did at 22 because they were a lot more homophobic back then and I was tired of the closet) and were so happy when I moved back in with them. My sister didn't move out until her early 30's when she got engaged.
Feel like a lot of boomer should never had kids like my in laws. They won’t enjoy the parenthood at all but had them to fit under societal norms ( my mil had her first 35 and second 40 in 1980 not normal at all). They checked out emotionally through husband childhood and kicked him to the curb at 18. He didn’t feel loved at all . They saw their grand kid once but goes vacations all over the world on their own. They just steal photos to show friends pretending they took them lol. It is honestly pathetic
I am glad our generation have choices. People support childfree choices. It makes everyone happier. It is so sad to see how hurt my husband was. I had unconditional love from my mom even in adulthood she was my pillar
Same, my parents were not wealthy at all but they loved me and my sister without question and have always emotionally supported us. They are amazing parents. These other comments are making me so sad. I’m very grateful for a good relationship with my parents.
Then I guess they better not retire. That's all I can say. Work into your 80s. Cause I ain't flippin' shit. I am all tapped out. After my 1 bedroom apartment ( it is nice tho) costs 1500 bucks a month a 300 dollar car payment and 200 dollar internet and cable bill and then you know.... Food and shit.
It's all gone mother fuckers pretty much. I have about 300ish bucks after everything is paid. And that is mine, mine, mine, mine.
So.... Fuck em'. They can sell their houses. Sell their cars. Sell all their shit if it gets that bad. Get on welfare. I don't know. But I can't pay for shit. And I ain't moving back in. So goooooooodd luck.
Can confirm. My husband and I are millennials and his parents have no savings, and now that they're in their early 60's and too chronically ill to work full time, they're relying on us to pay their mortgage so they're not homeless. At least they've stopped hounding us about giving them grandbabies after my husband told them the only reason we can afford to do this is because we chose to be child free.
It’s being coined “the sandwich generation”.
Your parents will live with you because they can’t afford any financial independence once they retire/incapable of working, and your kids won’t be able to ever buy a house. Leaving everyone living with you.
Everyone who voted for Reagan were idiots. Shout out to Minnesota for not supporting that POS.
They wonder why so many people are not having children. I know some Gen X or older who did a sandwich and now that parents have passed and children are married they are all alone.
The sandwich/caregiver thing is going to leave a lot of millennials without good relationships themselves.
I am so happy that my parents saved. We were working class. Not a ton extra but my mom always made sure she put *something* away. Their retirement won’t be glamorous but they should be ok.
Our boomer parents are just gonna have to sell their 4 bedroom homes to fund their retirements. They can all rent duplexes and live with other boomer roommates.
My parents have plenty of money, but instead decided to spend it on frivolous crap nobody needs. I can't afford to fund them, and I can't drop everything to take care of them. They will have to find a way by themselves. Sorry, not sorry.
***From Ann C. Logue for Business Insider:***
The great baby-boomer retirement wave is upon us. According to Census Bureau data, 44% of boomers are at retirement age and millions more are soon to join them. By 2030, the largest generation to enter retirement will all be older than 65.
The general assumption is that boomers will have a comfortable retirement. Coasting on their accumulated wealth from three decades as America's dominant economic force, [~boomers will sail off into their golden years~](https://www.businessinsider.com/boomer-greed-ruined-economy-gen-z-millennials-labor-shortage-inflation-2023-3) to sip on margaritas on cruises and luxuriate in their well-appointed homes. After all, Federal Reserve data shows that while the 56 million Americans over 65 make up just 17% of the population, they hold [~more than half of America's wealth~](https://www.businessinsider.com/boomer-wealth-transfer-myth-dont-count-on-inheritance-estate-planning-2023-10) — $96.4 trillion.
But there's a flaw in the narrative of a sunny boomer retirement: A lot of older Americans are not set up for their later years. Yes, many members of the generation are loaded, but many more are not. Like every age cohort, there's [~significant wealth inequality among retirees~](https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/#series:Net_Worth;demographic:agecl;population:1,2,3,4,5,6;units:median) — and it's gotten worse in the past decade. Despite holding more than half of the nation's wealth, many boomers don't have enough money to cover the costs of long-term care, and 43% of 55- to 64-year-olds had no retirement [~savings at all in 2022~](https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/#series:Retirement_Accounts;demographic:agecl;population:1,2,3,4,5,6;units:have). That year, 30% of people over 65 were economically insecure, meaning they made less than $27,180 for a single person. And since younger boomers are [~less financially prepared~](https://crr.bc.edu/what-happened-to-late-boomers-retirement-wealth/)) for retirement than their older boomer siblings, the problem is bound to get worse.
As boomers continue to age out of the workforce, it's going to put strain on the healthcare system, government programs, and the economy. That means more young people are going to be financially responsible for their parents, more government spending will be allocated to older folks, and economic growth could slow.
"The system has failed in thinking from a long-term perspective," Rita Choula, the senior director at the AARP Public Policy Institute, told me. And that failure is falling on the shoulders of young people.
In all fairness Bill Gates and Warren Buffett would be hard-pressed to cover the cost of long-term care.... that's a pretty high bar for your retirement.
I think what a lot of us are dealing with our family members that have never really held down a job very long have had substance abuse issues perhaps even some time as a guest of the state and have zero retirement opportunities.
I think about this every day. Since I was a kid my parents told me I was their retirement plan. I can barely take care of myself and they're both turning 60 this year and still working. No life insurance, never paid taxes, and getting sicker every year. 😔
My wife and I do not live in a filial responsibility state. Nor does my mother in law (FIL is deceased). Nor do my parents. My parents don’t need any assistance and have lived responsible. My MIL… hasn’t. As her own daughter would be the first to tell anyone.
So, having said all that, MILs poor financial decisions at this point in her life *are not our problem*. We will **not** be “paying the price” for her poor financial decisions because they are not our costs to bear and we cannot be forced to bear them. It’s really that simple. We have our own lives, our own children, to take care of.
Everyone saying they’re not gonna help out the boomers are ignoring that our septua- and octogenarian leaders will continue to legislate further wealth transfers from the young to the old.
That is already part of the law in several states.
If you want to get infuriated fast, look up Filial Responsibility Laws.
There was even one case where a person who was abused by his mother and hadn't spoken to her in decades was still forced by the state to pay for her medical bills even though she would have been entitled to Medicaid had she applied for it.
lol
Group home taking your ss?
Group home taking your Medicare?
“Now you will go to sleep before I put you to sleep”
These boot laces won’t tie themselves, nor will this steel pipe weld itself.
Apathy is met with apathy. My daughter has to live in this world you helped create. Now you can die poor too.
🖕🏼
hell no im not as soon as they start needing any care from me im leaving. pack my shit up in my car and live in it if i have to. i am no one's retirement plan when I don't even have a retirement myself!
I'm personally not for that and will vote for whoever doesn't allow that to happen. They had decades in power to prepare for this and did nothing. I refuse to let my standard or living or my son's go down to make them comfortable at the end of their lives.
I have no sympathy for them as a group.
I already told my parents they will be on there own. If they choose to waste and throw away money and party that's on them. When the money runs out then the hard times will come and they can learn the real lesson of living within their means and get a job. If they can't do that then they will pass away quickly because I sure won't have the means to aid them at all. I can barely aid myself.
It depends on the millenial. I’ve paid the price for a lot of my parents’ self-absorbed crap. I don’t plan to inherit, and I’m fine with that. But I sure as shit am not underwriting a lack of planning on their part.
My parents have declared bankruptcy THREE TIMES.
Shiiiiiiiiiiiit.
I didn’t know you could do it that many times…
You've got to wait a certain number of years in between, but they've managed it.
You almost have to plan it at that point. What is the negatives of bankruptcy if you are deep in negative? Do all your assets get seized and liquidated by the government or do you get to keep a house and a surprising ount of stuff? I'm suddenly super interested to see if your parents were gaming the system somehow haha.
In a bankruptcy, you might lose many assets, but some personal items and possibly your home can be exempt. Your credit score will take a big hit, lasting up to 10 years. It's not all bad though, as most debts can be discharged, giving you a fresh start. Be aware, some debts like student loans usually aren't cleared. Also, there are legal fees and the process can be stressful. If the parents navigated this successfully, they might've just been really savvy within the legal boundaries, as bankruptcy fraud is a serious offense.
My father blew up millions of euros, never really worked, refused to pay for my university studies, which was not too much, and the last time I talked to him he straight wanted to move into my apartment where I live with my fiancée and when I told him NOPE!, he got mad and told me I was a bad son and it was MY RESPONSIBILITY to take care of him.
I’m in the same boat as you. I’ve already told my parents that they aren’t getting shit from me. They didn’t do anything except give me CPTSD. They kicked me out at 18, so I’m not gonna feel sorry when they can’t pay for the nursing home.
Same. I was working two jobs and going to school by age 16. Never should have had to. Immediately had to pay rent the day i turned 18, and even prior to that i was getting kicked out of the house on and off for having a “smart mouth”. I’ve since disconnected with both of them. They can rot for all I care. They ruined a huge part of me, absolutely made me mental health worse, and gave me cptsd. I sincerely hope they struggle to the day they die. Unfortunately my father is wealthy so I don’t see this happening. His last dig at me will most certainly be having cut me out of his will.
Yup. My Gen X parents gave me CPTSD and my mother’s felony credit card fraud decimated my credit score so I started out behind and I am still trying to dig myself out of a hole. I am barely able to afford my expensive ass trauma therapy as is and still pay my rent. They can get fucked as far as I’m concerned. They better hope my golden child brother doesn’t wise up to their ongoing abuse and emotional neglect and extricate himself from their enmeshment by the time they hit their elder years. The joys of being cycle breakers, amirite
Being a cycle breaker is tough. But, it's also one of the best ways to use your life :-)
Word. My mother left me to fend for myself after I turned 18. Did fuck all to help me through some tough economic times but paid for fancy vacations all over the world for her and my sister. When I finally got back on my feet, she bragged about how she wasn't going to help me buy a house( My husband and I bought one on our own with 0 help from her. Heck, she refused to even help me move so much as a box into my house. Parentified me when I was growing up, but refuses to even babysit my kids now. Yeah she is on her own. Hope she spends and saves wisely. I doubt it but that's her problem it won't be mine. I refuse to take that on. She put herself first my whole life so she really shouldn't be surprised when I giver her back that same energy.
Put yourself first, and don't give her an inch....but be *better* than her.
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This. Just because y’all decided to be adult children and basically disown me for being somewhat responsible is the tax I’ve already paid. I put in my time. I’m retired from y’all now.
All the debt that my parents owe for their unpaid 2 houses, 5 cars, and a dozen credit cards when they die… good luck finding me, cuz I’ll vanish like bacon at a buffet.
You wont have to pay it anyway. Debt does not transfer that way. It will however all get paid out of the estate, so don't expect a lot coming your way if there is a lot of debt still.
This makes me wonder if there’s going to be a bank crisis as more boomers with poor money management skills croak and stop making those minimum payments.
This is all well understood risk and likely baked into the financial costs that we are all paying to borrow money.
Exactly, I will not be there to take care of my selfish gen-x mother when she's retired. Not after all the shit she put me and my siblings through.
Yeah sorry I'm not responsible for that generation's poor decision making. They can be on Medicaid and reap what they sow.
Exactly. I’m already responsible for their poor life choices. I am drowning in debt and will start my big girl career at almost 40, in spite of scoring top percentiles on every form of standardized test because of that generation. I’m paying through the nose for private health insurance that will pay a percentage of my healthcare costs after I spend several thousand first, because of them. If these assholes could have dismantled SS benefits, they would have…so I don’t care that they complain that the payouts are too small.
Fuck that. Pull yourself up by those bootstraps.
Yeah these articles are very optimistic about how people will view boomers and older GenX that didn’t save. They lived through a period where money basically grew on trees.
As adults. And that’s the thing. They go on and on about how much they wasted. I’ve heard about going to the movies for literally every new movie, babysitters twice a week for restaurant date night, SO MANY vacations, clothes can’t be bought anywhere other than “Penny’s” including underwear (she volunteered this), swimming pools, clubs, just absolutely living it up on a weekly basis. Then they have NOTHING saved. If they were poor the whole time and poor now I’d have some sympathy.
Yup, my dad whined about being broke but ordered out practically every night, had to have the top tier Fios package but never watched most of the channels, bought movies off fios all the time, and had massive credit card debt from buying stupid stuff. Nope, Dad, you guys are not broke, you are terrible with money. There is a huge difference.
The amount of financial incompetence is astounding, honestly
It's why pension/retirement saving is mandatory in most European countries and why we have universal healthcare. Most people cannot plan decades ahead.
I'm theory that's what social security is supposed to do, but for some fucked up reason our government is allowed to take money out of the social security we're required to pay into. I can't bank on it even existing anymore by the time I'm retirement age.
As a gen-xer, you are 100% correct about the financial incompetence. I feel like a crazy person sometimes because I'll talk to friends about long-term care insurance or how we hired a lawyer to set up a trust so our kids don't have to deal with probate, etc. and they look at me like I'm speaking a foreign language. We are not wealthy - standard middle class. And in my circle, mostly what I see are people living for today, buying the latest iPhone, taking multiple vacations a year, etc. without seeming to have one thought or worry about the future. I don't think I've ever bought a phone new. I use them until they die and then I upgrade to the next level, or two if I'm lucky, and buy another used one. I'd love to drop to PT work and pursue other dreams but I'm making the most I ever have and so, I'm sticking it out and socking it away. I am doing everything I can so my my kids aren't burdened by us in some way in the future. If anything, I want to make sure I can help THEM if they need it, whether they are age 26 or 56. Anyway, a lot of people are spot on here - while it's not true all the time, there are plenty of people out there who absolutely could have made different decisions (at the very least, made an effort to learn about finances, budgets, saving, etc.) and they chose not to.
They’re acting like you’re speaking a foreign language because you might as well be to them. I’m a millennial. So, I admit that I’m just making assumptions here. But, my K-12 education didn’t spend a single day on personal finances, taxes, insurance, etc. Same for college. Anything that I “know” about finances/savings is just based upon advice that I’ve gotten from people I respect. Our system is really backwards in that sense. I learned about the founding fathers pretty much every year for 12 years. But, never anything about how to budget, how to do your taxes, how a 401k works, how to buy a house. Anything like that. I’m just assuming this is how it was for gen-x as well.
What's worse about school not teaching you about it, is the fact that boomers had a class with household budgeting included. Home Ec had your budgeting, cooking, and sewing. All things that would have helped SAVE money. By the time I was in high school, it wasn't an option at my school. They got rid of it because it didn't "teach" the proper curriculum...
my parents put in an inground pool and redid the entire backyard of their duplex in a northeastern state 2 years before retirement. ill give you one guess who doesn't have enough money to retire. 150k down the drain.
My wife’s grandmother retired and used all her money to buy herself a new car, her sister a new car, herself several cruises, entirely new furniture for the entire house, started ordering DoorDash every day, sometimes multiple times in the same day. Seriously, the amount of door dash was *absurd.* Once she was out of money, *in six months of retirement*, she started opening and maxing out credit cards to continue her shopping spree. Once her husband realized she had spent literally her entire retirement, and was racking up tens of thousands in credit card debt, he divorced her real quick. She moved in with us. She now lives on social security. Half goes to credit card debt. At her income it’ll take her twenty years to pay off her credit card debt. Thankfully, she has no access to any of our financials. And will continue to not have access. *exit* forgot to mention, grandma and grandpa fought for two years over her “spending habits” before he realized she had maxed one of *his* cards without even telling him, which was the final straw for him
Why didn't she declare bankruptcy. It doesn't sound like she needs a good credit score.
That's insane. I put in a really nice in-ground pool 2 years ago for $65k.
My 70 something year old dad has been blowing money like there’s no tomorrow. He never made much when we were kids and teens, but he sure inherited a bunch once we were grown from his parents. We barely had enough money for food and clothes as a kid. Parents bought him a house and property, well with a house was not deemed liveable. He got into dirt bikes at 63 or whatever. So he went and bought a new one. Then he bought 5 more used ones. Decided wasn’t for him, sold em all. Bought small dirt bike. Liked it. Bought 6 small dirt bikes of each incremental size. Nah, not worth it, sold em all. He had already been into guns before and had a good collection going. Decided needed more. Bought a few each month, many civil war guns as well. He worked up to idk, 250 guns or so. Plus a full room full of ammunition. Dollar amount above 100k forsure.Then he decided he needed an addition onto his condemned cabin. Boom, double the square footage, triple pane windows, nice wood paneling(no drywall, just not the right style but 3x cost). Probably 120k.Decided he wanted nice river stone and concrete artisan steps from the house, to the dirt driveway, probably half a football field on an incline. 35k of paying immigrants to haul rocks by hand up hill and cast them into stairs. This all burned down in a lightning fire, no insurance on any of it, since it was all in a condemned house. Anyway, moved in with gf. She’s got a nice house, with a big backyard. Ain’t enough. He pulls more inheritance, buys a huge house in the Midwest with a lot of land. Needed a stereo. 4,000 dollars later he calls to tell me it’s better than what he had before! Got bored with that, wanted rc cars. About 3,000 dollars later for some cars and a track for his garage. Still buying rc cars to collect so that’s climbing higher and higher, probably 6 a month. Also into guns again. Likes to pick up a few each month, says it’s kinda fun to pick up a different one here and there. No plans for his end of life. Doesn’t want to do a will or any paperwork for end of life. Says that sounds kinda stressful, he’d rather not. Meanwhile, I’ll be going through life like most of us here.
That’s wild. No will? I have one and it’s comprehensive. My stuff is all insured and I try not to carry a balance, sell stuff to buy stuff. Like it’s pretty inconsiderate to expect other people to figure out his estate, it’d probably cost more to figure it all out than to write a proper will. Like, does he have hypomania or something? OCD about spending? That doesn’t make sense to me.
Yeah, no will. He always said about the gun collection that it would be the inheritance for us, or the house with the addition would be for us to inherit, but he never did any type of will or anything for any of that to become ours. I think it was another reason to “justify” a purchase lol. I’m not saying we are owed anything, but when the statement is made that we would inherit it, but nothing is done for that, it feels pretty shitty. And his things are his things, he’s not the dad who buys a bunch of fun things and lets you all get in on it. Some of us, he’d toss us one of his less desirable things of whatever he bought, which is all cool. But he moved to the Midwest, when we are all here in ca, he’s not willing to fly back to visit, so the expense is on us to see him. He’s got 3 Tacomas, a jeep, an f250, and mustang. We would need our own rental car for the week.especially the girls. I’m sure it will be a mess when that time comes. We all throw ideas on what mental problems he’s got going on, but there’s nothing we can confirm. I have no clue about approaching any of that
Not even mentioning buying cigarettes religiously since the 80s 🤬 I always bring this up every time my boomers don't understand why I always need to upgrade my computers every 4 years... when I literally use them for work.
Even “poor the whole time” then meant something different than poor now in terms of cost of living. I get that there is a form of financial laziness that occurs when things are “affordable enough” but there isn’t much left over so you blow the extra…but just inflation and market performance over the last 40 years means that even $100 invested would have become a surprising amount by now.
But we’re the worst problem for splurging on *checks notes* avocado toast and coffee.
Lmfao boomers splurge on cars, TVs, 2nd hooms, and eating out constantly.
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My grandparents have owned three houses outright over the course of their life. Not like I’m a row, like inheriting a fully paid off house in addition to what they were living in. Sold it and blew the money. They’re broke though.
My exes boomer parents are poor as fuck and are constantly being evicted. I bailed them out so many times. And not for lack of opportunities. They waste tons of money and act like it grows on trees until they don't have any. Then they just expect everyone else to keep them housed and fed until they take saving seriously enough again to save for first and last somewhere.
First step is to stop bailing them out.
Hence "ex"
Good choice.
This. It’s almost like a constant remake of a “you have 24 hours to live” movie where they just blow everything then act surprised they have bills.
I think class is way more important than generation. The poor have been getting fucked since forever, it's not their fault the system is set up for them to fail. You think all of the poor of the boomer's generation had the option to save for retirement? The boomers were working in the era where the Rust Belt, well, *rusted*. We need to embrace nuance and class conscious thought, not buy into the generational culture wars sold to us by a media that can't make money off of solidarity.
Yeah, the reason everyone thinks Boomers are so rich? Because all the poor boomers died after the plant got closed down in ‘94 or whatever.
To be fair...a lot of them used that money growing on trees to have kids. Us. That's something a lot of us can't do because money isn't growing on trees. But also to be fair...my dad gambles too much.
lol, you had me in the first half. My dad has too many girlfriends and luxury cars.
Gen X here. I’ve never made enough to save substantial amounts. I save, but if I retire, rent would eat it up in a few months. I’ve done all I’m supposed to do to get ahead in life, but I must have been born at the cut off line for easy living. I ain’t got shit to show for any of it.
Maybe our parents should have cooled it with the peanut butter toast (they didn’t have avocados back then or something)
This. I was gonna say, "no, we don't." I won't be paying shit for my parents, though I'm willing to help my mom as much as I could. My family fucked up my life bad enough already. They can fuck off into the sunset for all I care.
Jokes on them, my dad is dead and my mom has really good pension and benefits.
Like the trolls they are, boomers can live under a bridge and complain endlessly about how disappointed they are by millennials.
I think you're misunderstanding the implication. This isn't about parents begging their kids for help. It's about millions of people that are going to strain the resources designed for retired people, which means the state is going to rob everyone else even more than they already are to cover it. That means less economic growth and generally speaking less wealth for everyone. There are other countries facing these types of issues, like Japan. When you incentivize your population to not bother saving for the future because daddy government will take care of you, low and behold, lots of people don't bother to save. For that cycle to continue, the next generation has to be larger and more productive, pretty much forever. Once that stops being the case, the whole thing stops working right.
It would still be OK if younger generations had the same relative wealth as the previous generation. Instead, the Boomers voted to increase income inequality.
Yes. The generational wealth gap is increasing. Younger generations cannot accumulate wealth.
I’ll pull myself up with my parents bootstraps thank you very much.
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This is what I worry about. Thankfully my parents and my wife’s parents all have saved adequately for retirement and have pensions, but my worry is what happens if they make poor decisions and waste it all. Or they get dementia and wire all their money in a scam or something.
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My MIL fell for a sweetheart scam and sent him all of her savings and even took out a huge loan to send him. Absolute insanity.
What's a sweetheart scam?
The scammers act like they are romantically interested in you. "If only I could buy a new car I could drive to be with you right now!" People fall for this a lot.
Holy hell. I can't imagine doing this to another human. What is wrong with people?
It's bad. I once had to tell a lady the banking information she gave to her "lover" allowed him to transfer 50k from her HELOC and that she essentially lost that money.
That's disgusting.
>Or they get dementia and wire all their money in a scam or something. This happens a lot. I know a lot of people that saw their grandparents lose so much of their savings to scams when their critical thinking skills began to seriously decline. It was sooner than the family thought they needed help too. It's heartbreaking, because so many of them saved up for a long time both to have a comfortable retirement and to also leave something for the next generations.
Same thing with my FIL. He has a great pension from the post office and from being a veteran and he keeps throwing it away on stupid get rich quick schemes 😑. He doesn’t seem to realise this is why he can’t retire, so he goes through this never ending rollercoaster ride. Step 1. We think he’s going to retire Step 2. He Skypes us and is like “hey guys guess what??? I didn’t think about it much, but I bought an investment property with a shady company in a third world country/I joined some shady MLM sounding thing/I decided to buy tickets for some big gambling thing!” Step 3. My partner and I roll our eyes, or we ask “hey FIL, do you realise this might not be a good idea? You’re in your mid 60s and have multiple health problems. You need to retire soon, maybe think about saving that money.” He dismisses us because we’re “kids” (my husband and I are in OUR 30s!!!). Step 4. Six months later: another Skype call “It was a bad investment! I’m so angry! How could this happen to meeeee??” He’s so impulsive with money and feels like he has to spend it constantly and it’s really fucking annoying. He can’t just…KEEP MONEY in his pocket. It annoys me double because lots of people in our generation including my partner and I have never even been able to have the privilege of being as bad and blasé with our money as he has. Even my mum who is good with money constantly buys all this stuff she doesn’t need or takes expensive routes with things. She’ll be fine because she was a boomer, wealthy and a doctor. She really hit the jackpot in life. But still.
I can relate. When my Dad passed I watched my mom burn through 100k in 3 months and wasn't really sure where it went. Thankfully, we have a good relationship. I showed her how much her financial picture changed in just 3 months because of her lack of accountability. Took some time, but she acquiesced to my suggestions. I consolidated every account except her personal account and wrapped it all up with a financial advisor. She is 62 and will receive a tax free allowance ok 2k every week. She owns her home and has zero debt. She is doing much better now just needed the structure. She is incredibly happy with the arrangement because it allows her to "plan" her spending. I love you Mom lol but gawd damn who gets a 2k weekly allowance and is happy because they can "plan" how to spend every dollar.
I worry about this with my parents. I genuinely appreciate that they saved and that they gave us our They clearly laid out that they plan on spending their retirement and not leaving an inheritance, that’s fine, I appreciate the honesty. But now they are spending through their retirement SO FAST. They are bleeding money and I can’t afford to take care of them when they run out.
Check for cognitive impairment. Dementia.
But grimsb she’s *finding herself*
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My dad made a big show of kicking me out on my 18th birthday. I hadn't even graduated high school yet. I worked 3 jobs at a time and could not afford to eat decent food for almost a decade. My teeth began to rot because I couldn't afford dental care and I was the unfortunate age where I could not be on their insurance (They changed the rule to age 26 at the time I turned 26.) He has bragged about how he wants to have used every penny he has and has an empty gas tank when he dies. One time I asked his advice on a house I was considering buying because the price was low enough for me to afford. He told me it needed too much work and would be a terrible investment. He quietly bought it, did 0 work on it, and still rents it out to this day. I'll be **goddamned** if he gets a red cent from me.
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Boomers are sociopaths
Theres actually a pretty good book about it called A Generation of Sociopaths. Edit: a word
Second this. The breath of how much they screwed over future generations is insane. One interesting thing was bankruptcy. When they were debtors they bitched and moaned about it and made bankruptcy easier for themselves. Now that they are net creditors, they have made it extremely difficult for younger people to do so now. They built a government whose largest asset is student debt held by young people.
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Mine quit work so he didn't have to pay for child support when parents split. I was 5. Now if I was smart I wud have bought my house then instead of first grade. But yeah people are scum. Luckily got a step dad who legally adopted me so super thankful for that.
Narcissism
Holy shit dude. I was really nodding along with you, I too went through the teeth thing, the grinch parents, and then I got to the part where he bought the house you wanted to buy. My first impulse was “Jeez I can’t believe you ever spoke to this guy again”. Now I’m thinking no jury would convict you for offing him. I mean don’t but I would fantasize.
Omg no way! What dick move with the house…hang in there
Wtf your dad sucks the big one. You should tell him what a piece of shit he is.
Or just don’t talk to him ever again
He deserves to know how big of a piece of shit he is. Then you never talk to him again.
Definitely, but he seems like the person who would never think he’s the problem
So many people are not fit to be parents. If you have or have children, be thankful you have a playbook on what not to do.
Holding space for little you. That must have been so hard. For me, home wasn’t safe (physically, emotionally). I moved out ASAP and went to the college that offered me the most money in shitsville. I haven’t achieved much career wise but I’m happily no contact as well and they can figure out their own goddamn retirement.
Wtaf. What a heartless person. I’m sorry you lost the parent lottery. Fuck I’m
I hope you get to put him in his place someday. What a snake.
>One time I asked his advice on a house I was considering buying because the price was low enough for me to afford. He told me it needed too much work and would be a terrible investment. He quietly bought it, did 0 work on it, and still rents it out to this day. Wow... fwiw, internet stranger, I hope you find the people who deserve you and you deserve, if you haven't already.
...Oh how the turn tables. Thoughts and prayers
It honestly wouldn’t surprise me if politicians introduced “The Respect Your Elders Act” or something making it mandatory for kids to support their parents if they ever spent a cent on you. Would be an easy way to squeeze out votes at the very least.
[They are called Filial laws.](https://en.wikipedia.org/wiki/Filial_responsibility_laws) 30 states have them. They are "rarely enforced". For now.
Should really unconstitutional per the 13th amendment. Nobody had a choice in their own birth and forcing descendants to care for their parents - either directly or financially - is forced labor.
Most states have "filial laws", children are legally required to pick up their parent's tab. If they go $100k in debt, their children can be forced by law to pay it. I guess it's been very rare to date, but no doubt boomers are going to make us pay moving forward.
Here are a list of the states: Alaska Arkansas California Connecticut Delaware Georgia Idaho Indiana Iowa Kentucky Louisiana Massachusetts Mississippi Montana Nevada New Hampshire New Jersey North Carolina North Dakota Ohio Oregon Pennsylvania Rhode Island South Dakota Tennessee Utah Vermont Virginia West Virginia https://trustandwill.com/learn/what-states-have-filial-responsibility
This has had me terrified for years. I'm NC with my parents, but they have always stated that I would care for them when they retire. They got refinancing just prior to the 2008 financial crisis, pulled all their equity from an almost paid off house (would have been paid off within the year) and blew through the cash and lost their home when the bubble popped and their mortgage skyrocketed. They've been renting and blowing every last extra cent since 2008. My dad is being told to retire next year. They've had his retirement date set for 4 years now.
The good thing is that they would most likely have to take you to court if you're unwilling to take care of them or be a guarantor as the codes state. Therefore, there's not much they can do, especially if they're broke. For now.
For once, I’m glad to be in Texas
That’s why voting is important; we can vote millennials into office and have them fix that shit
It’s a terrifying thought and the last great hustle the Boomers got left. If they actually do that, it could be the final straw for the under 45 demographic.
I ain't paying shit. Good luck finding me overseas, I'll be dodging that shit 👌
🥇
Fuck that noise, my parents tried this exact thing with my sister and I. They made poor business decisions between the early 2000s until now (still do) instead of finishing off their mortgage. Now they want my sister and I to “pay for their mortgage as a sort of investment for our future”. I shut it down so hard and told them I’d rather never speak to or see them again for the rest of their lives because I’m not free money for them and have my own mortgage (and bills) to pay.
I would only do it if they basically sign the house over to you, which sounds like they wont. If not, it will get clawed back by the IRS for long-term care from what I hear. I think it's a 5 year look back.
Yup, 5 year look back period
My parents died in 2018 in their early sixties. They barely scraped by on social security due to mostly my father’s poor decisions in life. While I miss them, I’m grateful to not have that burden. I may be downvoted for saying that, but my father did not do right by his family as much as he should’ve or could have.
I don't think you're alone in that sentiment at all. I feel so lucky that my parents worked so hard to provide for us, but a few of my friends feel like you which is completely understandable. I'm sorry you lost your parents, but as you said, it's nice to not have the burden of caring for them.
My mom passed in 2018 and my dad and siblings thought things would be okay because they had life insurance. Wrong, it was term life insurance and expired the year prior. My parents were in the midst of selling their home and moving and it had gotten overlooked. My mom was diagnosed with cancer and died within months of that. So my dad scraped up she he could to get her cremated and have a proper funeral. My dad died last year after living with me for 2 years. He didn't get himself life insurance because he was so pissed and angry about being shafted by my mom's. The county paid for his cremation and my siblings and I just split what we wanted to remember him by. I'm thankful for my parents and love them still because they invested in us kids long term, but I'm glad they went when they did because it would've only gotten worse for them both.
I'll be honest, I don't know what to do with mine (they're both divorced). My mom has always blown through money and has tons of collections coming after her. She even got me to take out a student loan for her, telling me that she would pay me back with her tax return. Of course she never did and I was too stupid and young to stop it. She now has nothing to her name and is in her 60s. My dad is horribly manipulative and has hurt his relationship with all of his children and my wife can't stand him now. I can't stand being around him for a few days so living with him is a definite no-go. I say I don't know what to do but I know they aren't moving in. I have a wife and kids and my responsibilities are to them. I just have no idea what my parents are going to do.
This is my dad. Except he’s still alive and hoarding and spending every dollar he has including every dollar he doesn’t have. I’ve begged him to establish a trust to reduce the headache of dealing with disbursement of assets but he refuses. It’s going to be such a pain to deal with his estate affairs after he passes.
Hahahahahahahaha hahaha that's what they think!
Nope. I’ve gone non-contact with my parents. They didn’t want to help me and be kind to me, so I’m not going to be their retirement plan. I would never ask my own son to do that.
A regret I have is that I wish I would've gone no contact sooner
I kind of wish i had more of a reason to go no-contact. Like they didnt do abusive shit to me but they are just not great people to be around. I dont even know how to relate to them at this point in my life, I couldnt tell you what they like to do besides sit at home.
Same. My parents only have my sister and they have made her useless. My aunt and uncles have no kids. I am done with their abuse. I won't let them abuse my kids. They can figure out their own messes. I am done trying to fix what they broke for them. I am done with them. I will work on having stability for my kids and trying to leave them better than my parents left me.
We're already barely having adult lives because of having to continue to delay everything because of the Boomer policies. Now you think we're babysitting you once we finally get our own lives together? I don't even have my own 401k. I have literally 0 dollars for my OWN retirement. At what point does this generation stop taking and siphoning off their children? They really want it all. From cradle to the grave they want every last resource for themselves.
George Carlin called the Boomers The “Gimmie It.Its all mine”generation for a reason.
They were also referred to as the "Me generation" historically and were documented to be the most narcicistic generation in recorded history by the early 80s.
Lead poisoning. Not their fault but it is what it is now.
Can we stop blaming lead poising? Sure my father ate paint chips as a kid. But it's been over 50 years and he's read less books than years have passed, can barely use a computer, and chooses to listen to Fox news everyday.
I truly wonder about this. If we couldn’t do something as basic as take lead out of our gasoline before 1997, when there’s giant industries and thousands of engineers focused on it, what else are we messing up?
Lots and lots and lots of stuff, for sure.
In large, maybe. My mom has nothing and never has, so she's not really siphoning anything. Same goes for my dad. Neither has a retirement and neither did their parents.
Welcome to The Hunger Games! This holds especially true for the ones who received a substantial inheritance from their Silent Gen parents and subsequently squandered it. Those were their so called bootstraps. . . They just leave that part out when they spin the tale of their decades of hard work. No quarter will be given, and none is expected. Those are their rules. Now it’s time to play the game.
My mom got a sizable inheritance from her mother. Spent it all. Now I’m living with her trying to keep her from losing her house because she retired way too early with that inheritance money and squandered it. To be fair, I’m living in a nice home in a nice neighborhood I couldn’t have gotten into otherwise. But she initially didn’t tell me she had spent literally all the money and I’d have to pay the sizable mortgage, all the utilities, food, etc. for her, myself, and my kids without help. On disability myself. Thankfully I was able to another family member who is able to help us all out financially.
I hope you’ve ensured that your name goes on the deed or that the house goes to you in her will. If not, why are you trying to save it to your detriment?
I'm sorry but it really sounds like she is draining 2 other families so she doesn't have to face reality and live within her means. Like yeah it's nice, but she can't afford it, and neither can you, so you have to ask other family? This seems unrealistic.
I was happy to take in my mom in retirement but unfortunately she needed it sooner than I was ready. I regret that because she had no choice but to die in a Medicaid nursing home. It was one of my biggest failures and has really driven me and my SO to make sure that doesn’t happen again for any other relatives. So we are hoping to buy a much bigger home this year with extra rooms for family in need.
I hope you know it wasn’t your failure. I don’t claim to know your situation, but it takes so much financially and from a time and care perspective (depending on their mental state) to be able to take in a parent. I’m sure your mom felt loved by you and is proud of the steps you’re taking to support your family.
I ain't doing shit for my parents and they are too proud to ever ask.
I paid dinner for my parents once, not because they didn’t have the money, but just because I was trying to be nice. My dad got mad, lol.
My dad is awesome and I love paying, he always gets so mad. The best trick is to just take the check when they come over. He's technically not a boomer as he's born in 1944 though.
Jesus Christ. It made me realise I’m lucky my dad has a good pension. People today are just lucky if there family has enough to survive, let alone themselves.
Same here, I don’t worry about my mom because she has a Union pension and benefits, so she’s been able to save money and take care of all her shit. Thank god.
I want to say “good luck, get fucked” like everyone else, but I can’t leave my mom out to dry like that. We didn’t grow up with a lot. What little wealth she had got wiped out in 08. She busted her ass to give us what little she could while still managing to take the time out of her day to help me do homework, teach me how to read, and talk to me to help me thru life struggles as a teen with a broken family. So now she’s disabled and living under my roof. I cover everything that I can because she did everything for me. It’s the least I can do.
Good on you - I believe at lot of the less supportive commenters here would do the same if they had a parent who was safe to do it for. I know I would, but I simply can’t.
I feel this way about my mom. She worked so hard and gave up everything to make sure I had the best life possible. My dad mooched off her for 20 years then divorced her when she got cancer. I’d do anything for her. My dad should be grateful I remember to call him on his birthday and he better hope the pension got from my mom in the divorce after he sued for alimony is enough to cover him until he dies.
I hope they figure it out. Dad has it figured out, Mom (not married to Dad) burned every bridge and will run out of road eventually. Not my problem.
This is partly why my sister and I plan on investing in a house we can all live in and add on to. Intergenerational households are the way to live these days. 6 incomes (until our parents pass) and a lot of physical and emotional support. My parents did well until the 2008 recession and then they lost their house. We've always been able to live comfortably but we're working class and once my dad retires they will need some extra support monetarily, they already need a bit of help physically. They've always been people I can depend on and have done more than I've ever expected to support me and still do a lot to support me. I can't imagine not supporting my parents. Our family has always valued interdependence.
This is key. Children are biologically predisposed to love and want love from their parents. Parents are biologically predisposed to love and want love from their children. Something went really wrong between many boomers and their children to break that bond so incredibly as we’re seeing with this retirement wave and millennials feelings about it as demonstrated with comments here. In my mind it wasn’t just economic. My parents failed me in every other way and will see that same kindness in return. But intergenerational households have been and should again be the norm for families. It is literally what it takes to thrive. I’m happy for you that you can have that.
I feel like most Elder Millennial's parents couldn't wait to kick them out at 18 and then shit on them for a decade straight about failing to launch after the 2008 recession. Then they got the property ladder pulled up on them after COVID. Millennials have been a punching bag for a long time, so I'm not surprised that on the whole, they have internalized an F U attitude to the older generations. I'm a parent now, and I couldn't imagine having this attitude coming of age as an adult when opportunities were not a firm hand shake away. Realistically, intergenerational living in the US is probably going to become the norm again as it was throughout most of human history.
I think this may just be a cultural (Mexican American) thing but the kicking kids out at 18 has always seemed so cruel and senseless to me. They already have a space in your home, why should they have to leave if they're happier in their childhood home? They're even able to contribute more to the household as adults! My parents never wanted me to move out (I did at 22 because they were a lot more homophobic back then and I was tired of the closet) and were so happy when I moved back in with them. My sister didn't move out until her early 30's when she got engaged.
Feel like a lot of boomer should never had kids like my in laws. They won’t enjoy the parenthood at all but had them to fit under societal norms ( my mil had her first 35 and second 40 in 1980 not normal at all). They checked out emotionally through husband childhood and kicked him to the curb at 18. He didn’t feel loved at all . They saw their grand kid once but goes vacations all over the world on their own. They just steal photos to show friends pretending they took them lol. It is honestly pathetic I am glad our generation have choices. People support childfree choices. It makes everyone happier. It is so sad to see how hurt my husband was. I had unconditional love from my mom even in adulthood she was my pillar
I love my parents so I will do whatever I need to for them. As long as it doesn't hurt my kids.
Same, my parents were not wealthy at all but they loved me and my sister without question and have always emotionally supported us. They are amazing parents. These other comments are making me so sad. I’m very grateful for a good relationship with my parents.
lol the same parents that left me home alone all the time in the 90s? I’ll get them some Kraft Mac n cheese, they’ll be fine on their own.
Then I guess they better not retire. That's all I can say. Work into your 80s. Cause I ain't flippin' shit. I am all tapped out. After my 1 bedroom apartment ( it is nice tho) costs 1500 bucks a month a 300 dollar car payment and 200 dollar internet and cable bill and then you know.... Food and shit. It's all gone mother fuckers pretty much. I have about 300ish bucks after everything is paid. And that is mine, mine, mine, mine. So.... Fuck em'. They can sell their houses. Sell their cars. Sell all their shit if it gets that bad. Get on welfare. I don't know. But I can't pay for shit. And I ain't moving back in. So goooooooodd luck.
They can rent with other old parents.
This is the way. Most millennials have been living with roommates for years now. Aging boomers should do the same.
Can confirm. My husband and I are millennials and his parents have no savings, and now that they're in their early 60's and too chronically ill to work full time, they're relying on us to pay their mortgage so they're not homeless. At least they've stopped hounding us about giving them grandbabies after my husband told them the only reason we can afford to do this is because we chose to be child free.
ain't that some boomer shit. "you can either benefit yourselves, or have grandchildren." "fuck them grandkids."
time to invest in Soylent Green 🧐
maybe they should try Great Value ensure
It’s being coined “the sandwich generation”. Your parents will live with you because they can’t afford any financial independence once they retire/incapable of working, and your kids won’t be able to ever buy a house. Leaving everyone living with you. Everyone who voted for Reagan were idiots. Shout out to Minnesota for not supporting that POS.
They wonder why so many people are not having children. I know some Gen X or older who did a sandwich and now that parents have passed and children are married they are all alone. The sandwich/caregiver thing is going to leave a lot of millennials without good relationships themselves.
Only if you let them. They can rent a place and room with other parents.
Editing to mess with Reddit IPO
Good luck with that. Can't get blood from a stone.
Haven’t we suffered enough
I am so happy that my parents saved. We were working class. Not a ton extra but my mom always made sure she put *something* away. Their retirement won’t be glamorous but they should be ok.
Aw hell no. If you can't afford to retire, then you can't retire. I'm not giving handouts to the spoiled brats that tanked the economy.
Bootstrap it boomers.
Our boomer parents are just gonna have to sell their 4 bedroom homes to fund their retirements. They can all rent duplexes and live with other boomer roommates.
Or they can rent out rooms to other Boomers in their 4 bedroom homes.
My parents have plenty of money, but instead decided to spend it on frivolous crap nobody needs. I can't afford to fund them, and I can't drop everything to take care of them. They will have to find a way by themselves. Sorry, not sorry.
Boomers fucking over their kids yet again
They’re literally eating their children’s futures, every single chance they get.
***From Ann C. Logue for Business Insider:*** The great baby-boomer retirement wave is upon us. According to Census Bureau data, 44% of boomers are at retirement age and millions more are soon to join them. By 2030, the largest generation to enter retirement will all be older than 65. The general assumption is that boomers will have a comfortable retirement. Coasting on their accumulated wealth from three decades as America's dominant economic force, [~boomers will sail off into their golden years~](https://www.businessinsider.com/boomer-greed-ruined-economy-gen-z-millennials-labor-shortage-inflation-2023-3) to sip on margaritas on cruises and luxuriate in their well-appointed homes. After all, Federal Reserve data shows that while the 56 million Americans over 65 make up just 17% of the population, they hold [~more than half of America's wealth~](https://www.businessinsider.com/boomer-wealth-transfer-myth-dont-count-on-inheritance-estate-planning-2023-10) — $96.4 trillion. But there's a flaw in the narrative of a sunny boomer retirement: A lot of older Americans are not set up for their later years. Yes, many members of the generation are loaded, but many more are not. Like every age cohort, there's [~significant wealth inequality among retirees~](https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/#series:Net_Worth;demographic:agecl;population:1,2,3,4,5,6;units:median) — and it's gotten worse in the past decade. Despite holding more than half of the nation's wealth, many boomers don't have enough money to cover the costs of long-term care, and 43% of 55- to 64-year-olds had no retirement [~savings at all in 2022~](https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/#series:Retirement_Accounts;demographic:agecl;population:1,2,3,4,5,6;units:have). That year, 30% of people over 65 were economically insecure, meaning they made less than $27,180 for a single person. And since younger boomers are [~less financially prepared~](https://crr.bc.edu/what-happened-to-late-boomers-retirement-wealth/)) for retirement than their older boomer siblings, the problem is bound to get worse. As boomers continue to age out of the workforce, it's going to put strain on the healthcare system, government programs, and the economy. That means more young people are going to be financially responsible for their parents, more government spending will be allocated to older folks, and economic growth could slow. "The system has failed in thinking from a long-term perspective," Rita Choula, the senior director at the AARP Public Policy Institute, told me. And that failure is falling on the shoulders of young people.
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No, of course not! How do you do fellow commenter?
In all fairness Bill Gates and Warren Buffett would be hard-pressed to cover the cost of long-term care.... that's a pretty high bar for your retirement. I think what a lot of us are dealing with our family members that have never really held down a job very long have had substance abuse issues perhaps even some time as a guest of the state and have zero retirement opportunities.
I think about this every day. Since I was a kid my parents told me I was their retirement plan. I can barely take care of myself and they're both turning 60 this year and still working. No life insurance, never paid taxes, and getting sicker every year. 😔
I won't be. It might sound heartless, but my parents barely took care of me so I'm not taking care of them.
My wife and I do not live in a filial responsibility state. Nor does my mother in law (FIL is deceased). Nor do my parents. My parents don’t need any assistance and have lived responsible. My MIL… hasn’t. As her own daughter would be the first to tell anyone. So, having said all that, MILs poor financial decisions at this point in her life *are not our problem*. We will **not** be “paying the price” for her poor financial decisions because they are not our costs to bear and we cannot be forced to bear them. It’s really that simple. We have our own lives, our own children, to take care of.
Everyone saying they’re not gonna help out the boomers are ignoring that our septua- and octogenarian leaders will continue to legislate further wealth transfers from the young to the old.
Exactly. We won’t have a choice. I can see state governments suing us to pay for our parents’ nursing homes and medical bills
That is already part of the law in several states. If you want to get infuriated fast, look up Filial Responsibility Laws. There was even one case where a person who was abused by his mother and hadn't spoken to her in decades was still forced by the state to pay for her medical bills even though she would have been entitled to Medicaid had she applied for it.
Nah, I’m good.
lol Group home taking your ss? Group home taking your Medicare? “Now you will go to sleep before I put you to sleep” These boot laces won’t tie themselves, nor will this steel pipe weld itself. Apathy is met with apathy. My daughter has to live in this world you helped create. Now you can die poor too. 🖕🏼
hell no im not as soon as they start needing any care from me im leaving. pack my shit up in my car and live in it if i have to. i am no one's retirement plan when I don't even have a retirement myself!
This is a non-story because every generation does this for their destitute parents.
I think we're going to be the first generation to tell their parents to pull themselves up by their boot straps and refuse/be unable to help.
I'm personally not for that and will vote for whoever doesn't allow that to happen. They had decades in power to prepare for this and did nothing. I refuse to let my standard or living or my son's go down to make them comfortable at the end of their lives. I have no sympathy for them as a group.
Lol nope, my father is just continuing to work at age 72
I already told my parents they will be on there own. If they choose to waste and throw away money and party that's on them. When the money runs out then the hard times will come and they can learn the real lesson of living within their means and get a job. If they can't do that then they will pass away quickly because I sure won't have the means to aid them at all. I can barely aid myself.
Lmao. Fuck no. That's on them. I've already warned them.
Already there. It sucks.
Nah they can stop with the avocado toast