Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

42% of adults rely on their parents for financial support

cnbc.com

Post reply on HN
Print view View original

81–90 of 289 posts

Re: 42% of adults rely on their parents for financial support

#81

Post by [deleted] »

PaulDavisThe1st wrote: post #45
burningChrome wrote: post #37

Earlier quoted context omitted.

>> Still being on your parent's family phone plan doesnt mean youd be destitute if they werent helping you out. I think there's some important things like this that should be considered. In the late 90's early aughts, I didn't need a laptop, smartphone and 24/7 internet access with 1GB download speeds or half the technological stuff kids need these days to be a contributing member of society. Now those are all standa…

> $350/month [ 2000 ] > $1500/month [ 2026 ] CPI inflation would suggest that the current cost ought to be about $692. So if it really costs $1500 to cover the things you've mentioned (noticeabley absent: student loans, health insurance, car payments) then either our society is deeply fucked or your list has changed or your estimates are wrong or your memory is wrong or all of the above.

[deleted]

Re: 42% of adults rely on their parents for financial support

#82

Post by mrguyorama »

AviationAtom wrote: post #28

So if said kids are relying on their parents for support... how are their kids going to rely on them? The idea behind generational wealth is that there is something left to pass down. If you have nothing to pass down, because both you and your parents spent it all, then you're fully on your own to support yourself. Somewhere along the line the bill always comes due.

In reality, almost nobody ever has built "Generational wealth" because it's not a normal thing that happens.

Most people are just trying to survive for tomorrow.

Re: 42% of adults rely on their parents for financial support

#83

Post by alphawhisky »

anthonypasq wrote: post #3

I think the word "rely" is doing some heavy lifting here. Still being on your parent's family phone plan doesnt mean youd be destitute if they werent helping you out.

I think that the vast majority of people who are "relying" on their parents for finances actually belong to the upper class. Family Feudalism has bred two consecutive generations of entitled shitheads, and these people are gonna have the wheel soon (if not already) in the US politically. This has concerning potential consequences.

Re: 42% of adults rely on their parents for financial support

#84

Post by dybber »

exiguus wrote: post #52

The question that was ask in the survey was: How financially independent you currently feel from your parents (meaning you could support yourself without them if needed) I understand that YC is questioning the results of the survey. The YC community is very privileged; and i bet, if we do the same survey in this community, 20% or less of adults rely on their parents.

The hacker news crowd is also more than just Americans. Some of us live in welfare states and/or societies with strong trade unions, which we know we can rely on instead, if we ever come to a situation where we need it.

Re: 42% of adults rely on their parents for financial support

#85

Post by lattalayta »

butlike wrote: post #19
anthonypasq wrote: post #3

I think the word "rely" is doing some heavy lifting here. Still being on your parent's family phone plan doesnt mean youd be destitute if they werent helping you out.

I don't know, that one doesn't seem as benign as your making it out to be. I would say if you're having your parents subsidize your phone bill you're still not technically living on your own.

Cell phone companies incentivize this, though. It's a better deal for both the parents and children (often 50%) with no difference in service

Re: 42% of adults rely on their parents for financial support

#86

Post by tamimio »

Because boomers are selfish and holding onto most of the wealth, ruining and destroying the generations to follow. It’s a weird phenomenon actually, their parents gave them everything possible, even independence, yet, the boomers do all sort of shenanigans to keep holding on the wealth, and when they can’t, they go on manipulation tactics, as if their lives are the center of universe and all generations after are the minions to serve them.

Re: 42% of adults rely on their parents for financial support

#88

Post by Animats »

slibhb wrote: post #80

Downward mobility is almost entirely caused by housing costs, which are a self-inflicted problem. We don't, as a matter of intentional policy, build enough housing. I live in an expensive area and I'm always shocked by how many of my friends who cannot afford to buy a home (or even a condo) are NIMBYs. These are people in their 20s through 40s who have been earning since college, can't afford to buy, yet get annoyed…

> We don't, as a matter of intentional policy, build enough housing.

If actual number of houses was the problem, house prices would not be increasing in areas of population decline. It's existing houses being repriced upward by speculation that makes them unaffordable.

Re: 42% of adults rely on their parents for financial support

#89

Post by AviationAtom »

mrguyorama wrote: post #82
AviationAtom wrote: post #28

So if said kids are relying on their parents for support... how are their kids going to rely on them? The idea behind generational wealth is that there is something left to pass down. If you have nothing to pass down, because both you and your parents spent it all, then you're fully on your own to support yourself. Somewhere along the line the bill always comes due.

In reality, almost nobody ever has built "Generational wealth" because it's not a normal thing that happens. Most people are just trying to survive for tomorrow.

It may feel that way but I do not believe it is indicative of the situation of the masses. Often who we surround ourselves with alters our perception of reality. I do think the US has work to do to restore more faith in people that success is achievable for everyone.
Post reply on HN