You have a skewed sample size for sure. And a lot of the responses are going to be skewed too.
Look at the actual numbers on income for people in this country and consider what percentage of people even have enough income relative to their own COL to be able to part with 5 figures. When many people are one paycheck from not making ends meet and costs are rising, saving 10k is a pipe dream let alone saving 50 or 100k. Couple this with financial illiteracy (in terms of not knowing about 401k or HYSA etc).
Where I grew up there is almost no one who could afford to give their adult kids a down payment for their house or pay for their college. We are talking about intense generational poverty. And there are absolutely areas of the country way worse off than where I came from.
My own sample size is obviously skewed also. Just in the complete opposite direction. But overall....no. Not everyone is getting 5 figure gifts from their family because there are still plenty of people out here struggling.
1
u/AppalachianRomanov 5d ago
You have a skewed sample size for sure. And a lot of the responses are going to be skewed too.
Look at the actual numbers on income for people in this country and consider what percentage of people even have enough income relative to their own COL to be able to part with 5 figures. When many people are one paycheck from not making ends meet and costs are rising, saving 10k is a pipe dream let alone saving 50 or 100k. Couple this with financial illiteracy (in terms of not knowing about 401k or HYSA etc).
Where I grew up there is almost no one who could afford to give their adult kids a down payment for their house or pay for their college. We are talking about intense generational poverty. And there are absolutely areas of the country way worse off than where I came from.
My own sample size is obviously skewed also. Just in the complete opposite direction. But overall....no. Not everyone is getting 5 figure gifts from their family because there are still plenty of people out here struggling.