Originally Posted by Bostonian
Originally Posted by ultramarina
Furthermore, this particular paper shows that wealthy parents are spending more on early childhood care (daycare) and higher education (college)--AND they are forking over more money to their ADULT children. Yes. You read me right. The wealthy parents who are making their kids so fantastically successful? They're giving their 20-somethings money. Not my personal metric of success. Meanwhile, spending in the 6-12 age range was fairly low. So, basically, daycare and college are expensive, and rich people spend even more on these things. Not surprising.
Some of the subsidies given to 20-somethings are intended to boost their careers and not merely finance consumption.

My wife is a doctor, as are her siblings. They finished their medical training in another country without any debt, and she has informed me that our children should not take loans even for professional school. I've explained to her that in the U.S. people typically don't rely on their parents for law/business/medical school, but you try arguing with a Tiger Mother smile.

My spouse actually believes in the same model, for whatever that is worth.

I suspect that this is primarily because he is too out of touch to understand the quantities of money that we are now discussing there, but that's just me.

Neither of us paid for graduate school-- graduate school paid US; STEM fields are awesome that way, incidentally.


Schrödinger's cat walks into a bar. And doesn't.