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are you wealthier than your parents? - Page 4

post #46 of 55
5/6/10 at 3:50am
Quote:
Originally Posted by Pezzaturra View Post
Monetary yes, but existentially a big No.
My parents grew up in a post war Europe and had stable jobs with guaranteed and free healthcare benefits , 40+vacation days, pensions, almost free daycare for me and my siblings, low-interest RE loans and no real-estate taxes. Neither of them had to ever worry about loosing their jobs or their benefits nor about the quality of our free education.
Neither of them had to compete with inhabitants of a 3-rd world for their livelihood.

Weren't they worried about a NUCLEAR WAR?
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post #47 of 55
5/6/10 at 5:23pm
No.

Regards.
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post #48 of 55
5/6/10 at 10:22pm
Quote:
Originally Posted by darkdream View Post
My mother makes around 400k from her career alone

If you don't mind me asking what kind of work does your Mother do?

My parents were very old school when it came to money. To this day I have no idea what my Father made in a year. I can guess but it's just a guess.

I'm in the same boat as Pio, money wise yes i think I make more money then both my parents but there are other factors where I'm not even close.
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post #49 of 55
5/6/10 at 11:34pm
Quote:
Originally Posted by darkdream View Post
I am dependent on my parents (college student living in one of their condominiums and I will be dependent for my PhD/MBA time too). My mother makes around 400k from her career alone (and this is her taking a safe job for the big family for financial security since she make much more than my father). I do hope to make more than my mother does within 10 years after I finish my education to make her proud and to pay her back.

what does she do??
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post #50 of 55
5/7/10 at 1:10am
I'm 30.

I think I'm on par, or probably slightly less well off that them when they were that age.

My father paid off his first house before he was 40, and that was with raising two kids along the way. My mother was a stay at home mum. He retired at 50 and from his investments draws a steady six figure income each year.

My partner and I earn over $250k per annum together, will have the house paid off in around 3 years, but have no kids.

For my father to acheive what he did, and to contend with a top income tax rate of >60%, plus 19% interest rates on his mortgage, is remarkable.
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post #51 of 55
5/7/10 at 5:23pm
No. not even close. Kind of sad in a way, knowing I will probably never get there.
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post #52 of 55
5/8/10 at 4:04am
Quote:
Originally Posted by LucasCLarson View Post
Nice.

Same story here.

What type of small business?

just found this thread again!

doing lawn-care with a close friend. he's a member on here, too, actually. less than $2gs to get started. should keep us busy all throughout the summer.
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post #53 of 55
5/8/10 at 4:38am
I am in my mid twenties and have net worth close to my parents. Both my parents are professionals with doctorates who have worked since they graduated. They are in their late fifties. I made more than their combined income my first year out of school. It was a bit of a shock to them. My father has held one job and my mom three since graduating. My parents were married through grad school and built a life together after school on about $1000 in cash and less than 20K in combined income (both with degrees and good jobs!). They now live very comfortably, but are not "rich," in the accurate, non-Obama use of the word. Very different world. On an aside, I'm single with severe commitment phobia. Were I them, I'd have been married five or six years now. Shit..
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post #54 of 55
5/8/10 at 11:44pm
I'm in my early 30s and, after accounting for inflation, I probably earn about the same as my parents did at this age. If I add in my wife's income, we are probably significantly above what they earned. Property wise, we own a much larger, nicer, more solidly built home in a much nicer neighborhood compared to where my parents were living at this age. As for education, neither of my parents finished college and I had 4 older siblings who also never went to or finished college. I've been able to put myself through undergrad and graduate school.
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post #55 of 55
5/9/10 at 12:03am
Quote:
Originally Posted by BP348 View Post
If you don't mind me asking what kind of work does your Mother do?
She is a CIO.
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