......seems really weird. (Once you've done it I mean, not in concept)

[Edited on September 12, 2007 at 8:17 PM. Reason : .]

9/12/2007 8:16:58 PM

i just give it to them. they carried my ass for a long enough time.

9/12/2007 8:47:04 PM

i dont forsee this to be a problem since my dad makes about 6 times as much as i do an hour.

9/12/2007 9:15:37 PM

^^Indeed.

Do you charge them interest too? On the whole, you still owe your parents tens of thousands of dollars (if not hundreds of thousands). Try a little gratitude.

9/12/2007 9:21:16 PM

well, i do it w/o hesitation, but our kids are gonna have the same lopsided debt to us so its just how it goes

9/12/2007 9:34:11 PM

it isnt like you fell out of the sky or the pulled you in like a stray puppy. people know kids are expensive.

9/12/2007 9:45:16 PM

TheCoz is right on.

9/12/2007 9:53:46 PM

Once, when my Mom was late on a payment I broke her thumb with a pair of vice grips.


Although I did break her left thumb, but only so she could write the fucking check later.

[Edited on September 12, 2007 at 10:35 PM. Reason : ,]

9/12/2007 10:35:21 PM

i only make a fraction of what my dad does, so he won't be needing money from me.

mom makes less than i do, but she isn't very good with money anyway, so I wouldn't give or loan her any unless it was an emergency...i figure if she goes broke in retirement, i'll help her then.

9/13/2007 12:52:20 AM

never done it. my parents have had meager times, but only before i was born and when i was a young. since then the family business finally "blossomed" and some good investments turned up.

now that i'm able, i do make it a point to pay for meals, etc. whenever i can to show my appreciation for all the financial assistance they gave me.

9/13/2007 1:21:17 AM

I try to hook them up when I can, although there's a fine line between helping them financially and injuring their pride. My parents are not well off, but they are debt-free and very very careful with what money they have.

9/13/2007 7:10:40 AM

Quote :

"there's a fine line between helping them financially and injuring their pride."

9/13/2007 9:07:42 AM

I don't really see this ever coming up as an issue for me

but if it did, I would just give them money

9/13/2007 10:19:38 AM

EMCE and his whole family is a bunch of rich bastards

9/13/2007 11:42:12 AM

pffft

9/13/2007 11:58:42 AM

Quote :

"My parents are not well off, but they are debt-free "

including their mortgage? If so, that's pretty cool

9/13/2007 12:18:42 PM

i give them money if they need it. bobby is right about the pride thing, my parents are the same way.

[Edited on September 13, 2007 at 12:22 PM. Reason : debt-free is the way to be.]

9/13/2007 12:22:06 PM

Quote :

"My parents are not well off, but they are debt-free"

if this includes their mortgage they should get financial advice.

do something to re-invest that money

9/13/2007 12:45:32 PM

I don't know - i could use some debt right now.

I need to have my own place

9/13/2007 4:17:26 PM

even in retirement and living off of investments, my dad still makes many times what I am currently making. unless he gambles it all away, i dont see them ever asking me for any sort of monetary loan.

however, if the situation ever came up to where they needed my support, I would kindly and gladly do whatever I could for them would would be hesitant to accept any form of repayment unless they absolutely insisted

9/13/2007 7:23:37 PM

that's what i want...my goal is to accumulate enough wealth to live on $200-300k/year (in today's dollars) when I retire.

9/13/2007 7:51:08 PM

Quote :

"if this includes their mortgage they should get financial advice. do something to re-invest that money"

you F'in moron - its highly likely that they've paid off a 30 year mortgage by now

9/13/2007 9:53:42 PM

yeah their house has been paid off for a few years. my parents are pushing retirement... my dad is 66.

actually, I take it back, my parents just bought a townhouse in charlotte, but the occupants are paying for it.

9/13/2007 10:18:00 PM

^^^why do you want 200-300K/year income during retirement? it is likely that your mortgage will be paid off by then and you probably won't have any kids that are still dependents. i would think that something in the neighborhood of 60K would be more than enough for a retiree.

9/14/2007 8:28:00 AM

my dad's getting ready to sell off his business for something like $10 million. i dont think he's going to need any money from me in the near future.

9/14/2007 8:31:20 AM

http://articles.moneycentral.msn.com/CollegeAndFamily/CaringForParents/ShouldYouBailOutSpendthriftParents.aspx

9/14/2007 9:29:16 AM

i used to be friends with a chick who paid her parents bills. granted her parents did not have much money and she made $$$ at the booby bar.

I consider that pretty respectable though that she takes care of her parents in need

9/14/2007 9:41:21 AM

^^^^

Why not? If he can save and invest intelligently, that's not unreasonable at all.

^ no doubt, if my parents were ever in need, I'd take care of their bills in a second.

9/14/2007 9:45:27 AM

For 200-300 in today's dollars "they" say you need 25 times that amount took keep your withdrawal rate at a conservative 4% I guess it's possible but I think I'd much rather retire a decade earlier with a respectable nest egg.

9/14/2007 9:52:00 AM

I'm investing heavily in the lottery now so that I can pay my mama house off when i win.

9/14/2007 10:52:15 AM

Way to fuck up the thread.

9/14/2007 10:52:57 AM

^i just don't know what someone could need 200-300k/year (in today's dollars) for during retirement. its certainly doable though. for example, you could invest 25,000 a year for the next 40 years, plan on 20 years of retirement (and i assumed an investment return of 8%) and you'd be pulling in 660k/year, which is around 200k/year in today's dollars.

so its definitely fairly easy to do...i was just interested in why that was his goal.

9/14/2007 11:24:04 AM

Traveling the world?

9/14/2007 11:27:49 AM

it would def. cost me around 2-300k for constant world travel.

9/14/2007 1:11:37 PM

Quote :

"so its definitely fairly easy to do...i was just interested in why that was his goal. "

i just want to live like a baller when i finally get the chance to do it. Travel, skiing, beach/island vacations, fast cars, motorcycles, boats, and an airplane. would like to have a house on an airpark (and if it's coastal waterfront, too, that'll be even better). would also like to have a condo or something on a ski mountain.


basically, i figure that i'm not likely to ever make enough money to live that sort of lifestyle based strictly on my salary--but by investing now (and started in my early to mid 20s), i should be able to accumulate some serious wealth.

9/14/2007 4:52:31 PM

I wouldn't say its fairly easy to earn 250-300k per year in today's dollars in retirement. It can be done, but its no picnic to save $25k a year for 40 years. Then on top of that, who knows if the future return rate is going to average at 8%.

I agree with the other poster, if I saved that much money, I'd rather live on 1/2 that and retire much earlier.

9/14/2007 5:42:40 PM

I'm on my way there, but I will be stopping before I hit the 40 year mark.

9/14/2007 5:54:14 PM

I used to loan my parents a couple bucks here and there when I was in HS. I bagged groceries at the commissary on an Air Force base so all my money was tips (mostly $1 bills) and my parents would always ask for a few bucks so they could buy lunch at work. Or I'd wake up to see my dad in my room getting change for a $20 before he left for work.

9/14/2007 9:57:25 PM

My dad owns a dealership.

9/15/2007 12:24:50 AM

200-300k a year in retirement...hope the investments work out and you dont have any more kids.

9/15/2007 12:02:25 PM

^^^

strange.

[Edited on September 15, 2007 at 12:38 PM. Reason : why not just make food at home?]

9/15/2007 12:38:38 PM

I've never loaned or given my parents money. I don't know exact numbers, just that I make more than my mother and less than my father.

My parents are both very financially smart, and I'm lucky that they taught me to be the same way. For that reason, I know I'll never need to give them money, but if I did, I would have plenty of money to be able to do it.

9/15/2007 4:56:11 PM

I am a millionaire.

9/15/2007 5:31:01 PM

I am a billionaire

9/15/2007 7:18:51 PM

i am looking forward to the day that i loan my parents money

seriously

9/15/2007 8:01:19 PM

I'm majority owner of the Charlotte Bobcats, so suffice it to say that if my parents needed money, I'm rolling in it.

9/15/2007 10:15:34 PM