Where Does the Buck Stop?

October 29, 2024 DINARRECAPS8

Victoria Vesovski Tue, October 29, 2024 Moneywise

‘Sitting on their piles of gold’: Adult son outraged his parents, worth $10M+, haven’t offered him help. From midnight diaper changes and years of running on caffeine to those last-minute dashes to buy poster boards and relearning algebra just to help with homework, for decades, parenthood means putting the kids first.

But while you’d drop everything to help them at 4 years old, should the same still hold true at 44?

That’s the question one frustrated poster brought to Reddit in a since-deleted post. After a chance peek at his father-in-law’s accounts revealed that his in-laws are sitting on a $10 million fortune, he was left outraged. As he explains, he’s in his late 30s and he and his wife live with their two children in an expensive city.

They’re saddled with $20,000 in credit card debt and their credit scores have suffered, while his wife’s parents have just let them struggle. Outraged that they haven’t stepped in considering their wealth, he turned to his own dad — only to find his parents were just as well off.

“Here are our own parents sitting on their piles of gold, watching us navigate a new level of economics and shopping for discounts and raising our children in sub par school districts and for WHAT?” the user wrote.

The Redditor insists he’d give his last dollar to make his son more comfortable one day, but where does the buck stop?

A Generational Divide

Some baby boomer parents might be struck by the millennial poster’s expectations of his parents. But it’s pretty common these days for parents to help their kids even after they’ve left home — in fact, 65% of them say they provide financial help to their adult children.