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re: Are you as wealthy as your parents were at your age ?

Posted on 3/2/16 at 6:18 pm to
Posted by tiger91
In my own little world
Member since Nov 2005
36741 posts
Posted on 3/2/16 at 6:18 pm to
Probably ... if not more so but I have no clue how to figure in inflation so it could actually be the same.
Posted by Tigris
Mexican Home
Member since Jul 2005
12366 posts
Posted on 3/2/16 at 6:31 pm to
No, my dad was retired at my age and they had about 3x as much in the bank. He had a good job but they made more from buying and selling the houses we lived in. Just timed everything perfectly.

I've done about as well in my career and done badly in real estate markets. They've had great health and might face a financial pinch soon. On behalf of retired people on fixed income - FU Bush and Obama (and Hillary soon). The banks thank you I'm sure.
Posted by CorkSoaker
Member since Oct 2008
9784 posts
Posted on 3/2/16 at 6:34 pm to
Yes, but only because of my husband.
He is as well because of his work ethic.
Posted by Breesus
House of the Rising Sun
Member since Jan 2010
66982 posts
Posted on 3/2/16 at 6:35 pm to
Right now? No.

By this time next year? A great deal more.
Posted by CaptainBrannigan
Good Ole Rocky Top Tennessee
Member since Jan 2010
21644 posts
Posted on 3/2/16 at 6:53 pm to
Yes I am. But the murder of my father kind of skews the odds in my favor.
Posted by PurpleandGold Motown
Birmingham, Alabama
Member since Oct 2007
22064 posts
Posted on 3/2/16 at 6:55 pm to
Wealthier. I don't have 3 kids.
Posted by DirtyMikeandtheBoys
Member since May 2011
19429 posts
Posted on 3/2/16 at 7:07 pm to
Slow clap
Posted by TigerFanInSouthland
Louisiana
Member since Aug 2012
28065 posts
Posted on 3/2/16 at 7:19 pm to
Yeah, probably. But I'm not doing what I wanna do/really need to do which is be in school.
Posted by REB BEER
Laffy Yet
Member since Dec 2010
16242 posts
Posted on 3/2/16 at 7:38 pm to
Don't know. I honestly have no idea how much my parents made when I was younger.

Income was one thing my dad would never talk about.
Posted by Captain Rumbeard
Member since Jan 2014
4186 posts
Posted on 3/2/16 at 9:07 pm to
I do have three kids and I'm still making more. But damned if I feel like I'm ahead. Never really thought of it. When you're a kid you're never really poor if you were brought up right.
Posted by wal marks
bee arrah
Member since Mar 2013
1121 posts
Posted on 3/2/16 at 9:40 pm to
Par
Posted by 911Moto
Member since Sep 2013
5491 posts
Posted on 3/2/16 at 9:51 pm to
My dad was a much harder worker. Had a fairly poor childhood after his father left his family very early on. Didn't do much in high school, then went into the marines. Joined the police force and eventually became the youngest Capt. in NOPD history at the time. Went to night school and got a degree from Loyola. Would work all day then come home and work til 10-11:00 every night in the garage building his own sign business. Business grew rapidly. I do pretty damn well, and he was making what I make now back in the '80s- '90s. And he has never bought anything that he couldn't pay cash for. Paid cash for things like his houses, a 42 ft. diesel pusher, a 34 ft. motoryacht, etc. You'd never know he was a baller from the looks of him and the way he dresses.
This post was edited on 3/2/16 at 9:52 pm
Posted by RDOtiger
Zachary
Member since Oct 2013
1146 posts
Posted on 3/2/16 at 9:58 pm to
quote:

They have so far way out performed us.


This sentence explains why your parents out performed you.
Posted by TheDeathValley
New Orleans, LA
Member since Sep 2010
17198 posts
Posted on 3/2/16 at 10:00 pm to
My wife and I are leaps and bounds over our parents. We make more than what our four parents made combined. I'm 25, she is 24.

We were able to do this though, because they busted their arse to give us the opportunity to go to school and get an education.

Sidenote, her dad is a maritime service manager for rolls-Royce now and makes great money (he's 50ish) and my dad retired making silly money working for Schlumberger for 30 years (he is 60 now).
Posted by bobaftt1212
Hills of TN
Member since Mar 2013
1317 posts
Posted on 3/3/16 at 7:14 am to
much better off
Posted by LSUBoo
Knoxville, TN
Member since Mar 2006
101930 posts
Posted on 3/3/16 at 7:18 am to
No... I think my Dad and I are pretty similar in terms of career paths at my age, but he was in a higher paying profession.

So, probably reasonably similar success, but not as much wealth.
Posted by Mung
NorCal
Member since Aug 2007
9054 posts
Posted on 3/3/16 at 7:36 am to
Doubtful. My dad didn't have three daughters to put thru college, and he inherited his parent's estate around this time. Plus he is waay more frugal than me.
Posted by MSTiger33
Member since Oct 2007
20401 posts
Posted on 3/3/16 at 8:14 am to
Not even close.
Posted by go_tigres
Member since Sep 2013
5164 posts
Posted on 3/3/16 at 9:28 am to
My mom was a teacher....before the increase in pay. She raised 3 kids on a little under 24k a year, bring home pay. Needless to say, yes, I make more and am afforded the ability to help moms out now that she's in retirement.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 3/3/16 at 9:47 am to
Probably not when you factor in our debt service to student loans. Straight income? We're probably a tad higher or equal than my parents.
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