2 weeks Ago By Adrian Volenik
A post on the r/Millennials subreddit has struck a nerve with thousands of users after one woman asked, "Anyone else give your parent(s) money every month?" In the post, the original poster, who said she's a public sector lawyer in her 30s, explained that she's been sending her mother around $4,000 a year for nearly a decade. She also gave her mom a car, chipped in on another one, and gives extra cash on birthdays and holidays. Don't Miss: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones.
You can invest today for just $0.26/share with a $1000 minimum. The average American couple has saved this much money for retirement — How do you compare ? "I'm not a rich woman either," she wrote, adding that she paid her way through law school with student loans and paid off the debt herself.
"But what really irks me," she continued, "is when I mention investments, she tells me, ‘Older people never really invested – we didn't have the same opportunities.'" That's where the conversation blew up. Boomers Had Opportunities, But Not Everyone Took Them Many Reddit users pushed back on the mom's claim that older generations didn't have access to investing.
One 67-year-old commenter wrote: "We had hella great investing opportunities in our generation. Microsoft? Amazon? Apple? Starbucks? Real Estate? Yeah." Another added, "People get mad when I point out millennials have more savings than boomers at their age , but it is actually the truth backed up by many studies.
Fact is, millennials know they cannot rely on boomers for support so they save. Boomers expect everyone else to support them so they don’t." Several noted that while OP's father, who's older than her mom, invested regularly and planned ahead, her mother took out a second mortgage and racked up credit card debt instead.
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Some said they send their parents money monthly, even when it's a financial strain. Others described living with parents or covering expenses like rent, car payments, groceries and phone bills. A few mentioned they expect to support their parents for the rest of their lives, not out of wealth, but out of love and guilt.
"[My mom] never held down a job, never saved anything , never invested anything, and she sells anything of value she happens to have the moment she blows through her cigarette money," one commenter wrote. "Now she lives with me because her landlord sold the property, and of course, she and her boyfriend just waited until it happened. " Others admitted they've cut off family members entirely.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — invest pre-IPO from $0.60 per share now . Cultural Expectations and Tough Conversations Some commenters, especially those from immigrant or Latino families, pointed to cultural expectations.
"I'm Latina, and our parents’ generation truly enjoys receiving money from their kids because ‘we are their retirement,’" one user said. "That messed-up way of thinking ends with me, I refuse to think of my only child as my 401(k)." Another user in the Philippines shared that he pays for house help for his parents while his siblings cover the utility bills, even though there's no formal agreement, just an obligation.
But others pushed for boundaries. "If you're giving $400 a month and don't know where it's going, that's a problem," one person said. "You're not helping.
You're enabling." OP clarified in the thread that her mom did help with childcare early on, but that was years ago. Since then, she's been paying full-time daycare plus her mom's stipend.
"It irritates me that she brings up every excuse in the book as to why her finances are bad," she wrote. Still, there were some who said they're happy to help their parents — if only because they know no one else will. Read Next: This investment company boasts a 33.
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