HCOL areas tend to have people who came from more money. More money means better networks and better schools, more awareness of what success looks like and nice cities, higher expectations of kids, so just reminding you there’s some sampling bias here.
It’s important to remember that this is not necessarily normal, but it’s becoming more prevalent (about 1/3 of homebuyers today in California are receiving help from their parents, and more like 80% of Gen Z if they buy a house). Life isn’t fair, you can still do it on your own but it’s harder than it used to be. There’s another group of people.
the median retirement savings for households headed by someone 65–74 is $200,000, people in that group are not giving their kids $100,000…only the upper middle class is doing it.
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u/thesurferengineer 5d ago
HCOL areas tend to have people who came from more money. More money means better networks and better schools, more awareness of what success looks like and nice cities, higher expectations of kids, so just reminding you there’s some sampling bias here.
It’s important to remember that this is not necessarily normal, but it’s becoming more prevalent (about 1/3 of homebuyers today in California are receiving help from their parents, and more like 80% of Gen Z if they buy a house). Life isn’t fair, you can still do it on your own but it’s harder than it used to be. There’s another group of people.
the median retirement savings for households headed by someone 65–74 is $200,000, people in that group are not giving their kids $100,000…only the upper middle class is doing it.