I

 

Life's not fair, and some people do silly things like spend all of their money on toys. You'll enjoy your toys all the more for having worked hard for them. Do you have your MINI yet?

 

24 and 22 year olds and still being supported by mommy and daddy?? That's pretty damn sad! Don't worry, they will grow up to be unappreciative of the things they have and won't go very far in life for the most part. They won't know how to do things for themselves.

I went to High School in Bellevue, WA at Bellevue High which is about the richest high school in the country. All the techie/Microsoft/Boing/dot com kids went to school there. They were all given 60k cars and the parking lot looked like a exotic sports car dealership. They didn't care about their cars because they didn't pay for them and they were just plain lazy. JOB was a 4 letter word to them.

I busted my butt working at a record store in high school and bought a 66 VW bus to drive. I didn't care... it was mine and i paid for it myself. Decided after 2 years college was a waste of my time and went to work full time. While I've been working the past 6 years, my old classmates have been ski instructors, trust fund babies, and failers.

Lesson learned, earn your way in life and things will work out for you. Ignore those who take the easy road. Biggest thing is to take CHANCES... i quite school took a lowly job and worked my way up and jumped from job to job to better myself. Hey, it got me a house in Seattle and now one out in Utah... and hey look... it got me a MINI!

 

I hate to say this, but life just isn't fair at all. And, while I was working my first job, one of my friends was cruising around Europe all paid for by dear ol' Daddy! For the sake of privacy I won't go into details. I will say that I live a lot better than she does today.

On the other hand, their are people who their entire lives get things given to them till the day they die. While others struggle. But the quality and character of people does not come from what you own but from what you are!

A lot of people who get things also GIVE alot to others in other ways. While others are born selfish and stay selfish.

I've met a lot of successful jerks and I've met alot of poor jerks.

As one last spin to this sometimes....money is given early to avoid inheritance taxes?

I have a few cousins whose parents literally put their money and homes in their children's names so that when the parents died the kids would not have to deal with probate and inheritance because the money/homes were already in their names.

Many parents believe in giving to their kids when they need it rather than waiting till they die, when their kids are pretty much already settled, successful etc. themselves.

The kids in my neck of the woods seem to get *brand new cars* when they are 16. You should see the High School parking lot! So your friends at 22 getting new cars is well...around here they'd say, "About time!"

 

I don't seem to see many of those types around here, but then I don't live in Preppieland (it's more like "comfortable-but-not-outright-rich-land&quot. I'm blessed in that I have generally been living in a house where the answer has more typically been "you can" rather than "you can't," but not so much that I've been isolated. I know full well that I have to work (which is what I do, both inside and outside of my university terms) and won't get anywhere unless I'm willing to take my time and apply myself.

To me, a new MINI (should I be in the position to get one in the next few years) isn't something I expect to fall into my figurative lap - it's a goal that serves as inspiration!

 

Dude, I think you're getting the hint. . . . Life isn't fair. If you're bummed about what your friends are getting, try driving through Watts, Compton, Bed-Stye, Cabrini Green etc etc. and see what those folks drive. On second thought, if you try to drive through one of these areas, they'll probably be driving your car.

 

>>Dude, I think you're getting the hint. . . . Life isn't fair. If you're bummed about what your friends are getting, try driving through Watts, Compton, Bed-Stye, Cabrini Green etc etc. and see what those folks drive. On second thought, if you try to drive through one of these areas, they'll probably be driving your car.
Bed-Stye? Is that what you get sleeping on a dirty mattress?

 

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:smile: :smile:

Be happy for your friends and for your plan to accomplish the things you want to do too.

 

>>Bed-Stye? Is that what you get sleeping on a dirty mattress?



Damn that's clever.

 

Re: "I feel a bit strange about it because I feel like it's a handout. "

Wessieball,

I hope what I'm about to say doesnt come across wrong, so in advance I want to say that I'm not judging your folks or your code of ethics, OK?

The bible says "pride cometh before a fall." Do not be so proud as to not accept help WHEN YOU NEED IT!

At the same time, consider the source and the motive!

Some parents are very loving and give without strings. Other parents love with motives. If your parents are trying to help you get into a house because let's say that house is near them, so you can live near them so they can control your lives, well.... If it's in another town and they want to let you get started, then I'd say swallow your pride and let them help you.

Helping others is a joy when done with love and not with ego!

Now, if you feel odd about it because of what others will say, then don't.

If you feel odd about it for the sake of your own dignity and ethics well.... I know first hand what that's like. I personally have never kissed up to anyone for money. I call this "prostituting my integrity." You call it what you want.

But.... there are times when we all need someone's help. I have had such times. This post is really long as it is so I won't go into it.

Here's what I did: I took the money from my family and then when I could... I paid it back!!! (Without interest however :smile:

 

>>I have a few cousins whose parents literally put their money and homes in their children's names so that when the parents died the kids would not have to deal with probate and inheritance because the money/homes were already in their names.


HA HA. But they will have to pay HUGE capital gains taxes when they sell the houses. If you inherit the house you get it at a stepped up basis. If it is in their name they own it at current market value anything they get over that is taxable. Better to put things in a living trust than a will or give it away early.

 

Seemunkee,

I don't want to float off-topic so check your Private Messages.
In brief, they'll get stuck with Capital Gains? YEEEESSSS!!
My lips are sealed.

 

G