$$$ asking parentals
 

Say if you're nearing your 30's and you have nothing saved up for a home or marriage or a good career going yet, is it ok to ask the parents for help if you know they got a few mill or 3? wrong???

if your nearing 30.. and you have no career goal, no money saved up. then that pretty much sums up who you are.

a lazy bag of useless dried up shit, that no one ever knew it existed until the rotting smell appears (asking for chum change, let alone "million")

no one will want to marry you.
you will have no real friends other than the ones that only wanna benefit from you.
no one will ever respond to you or give 2 shits about what you are doing because you are a 30 yr old piece of crap that has nothing accomplished in life.

your clock is ticking. u probably have about another 40-50 yrs to live.
Congratz, uve spent almost half of your life doing jack shit

Depends for what, if it's a wise investment for them, let's say, you want to go back to University or a technical school, then I'm sure they'll be glad to help.

Joe_45?

wow...

really...?

I have nothing to say... unless you are trolling

failed for thread title not making any sense and being a broke ass joke at 30+ years of age. no savings, no career.. what were you doing from age 18-29?

no im not 30 yet im saying IF. im still mid 20's

If you are, 30+, broke, no savings, no career, no girl.
Then you are doing something wrong.

If your parents have a couple million just lying around.
Then they are doing something right.


I would not give money to you cause you've clearly got a track record of getting it wrong. Rather, keep the money with the parents cause they obviously aren't pissing it away.

stfu . PERIOD

why don't you go and find a job or pick up extra work..I know it's a little tough right now but just take what you can get and save up. I don't remember the last time i ask my parents for money, maybe when i was 14 or something. Even when they offered it to me i would feel bad and refuse it..You're suppose to help your parents as they get older..not take..

If you're parents are rich and you're not ashame of yourself for doing so..then i have nothing else to say

i dont think it's joe. I think it's that other dude I called out.

ask them for a mil or 3? :seriously:

You're 30 years old and still refer to your parents as "parentals?"

obvstrollisobvs

Wow, people............ chill.

He's just asking for advice. Not asking to be judged.

If I had millions and one of my kids needed money to get started, I wouldn't flinch, 'cause I know my kids are not blood sucking maggots. It all depends on the person and the kind of relationship they have with their parents.

I don't agree much with the wife, but one thing is for sure, she did a good job of raising the kids. No amount of money can buy you great kids. I'm thankful.


Now, if only one of them can make me a grand dad..............

Sorry, but you're a fucking douchebag, you don't even know jack shit about this guy.

to the OP: I think its okay granted that you use the money to actually get a career in place or start at least, as long as you make use of it and not leech off, afterall, your parents will always be there for you right?

So you're not planning on doing anything productive to better your situation within the next 5-ish years?

In 5 years, you can get a Bachelor's, in let's say Business. And you can definitely get a job by then.

You have to think about it this way, if you were you parents and your children required financial aid, would you help them?

i work for the family business.

Obviously, i know the pay isn't gonna get me a head start in life cuz he's paying me 12 bucks/hour and i know he's raking it in.. its like working free yet im not getting ahead with these wages

I'm never forgetting this, you said it. And I'll make you proud. :)

Not sure how long your situation has been going on, but if it is a family business, it'll be yours in the end, yes? Work hard and learn the business. If you prove yourself, pops will put trust in you. If he's taking advantage of you, then you need to talk to him, man to man. Let him know of your plans. Get married, have children, buy a house, blah, blah, blah.

Is he expecting you to stay in the family business? Is he Ok with you going your own way? Are you the only child?

Most importantly, how's your relationship with pops? Is he like an understanding guy? Some fathers are impossible to talk to.

I know that most people think you are trolling, but I will take a more serious shot here:

Get your mind together and figure out what you want to do!!!

Back in 2008, the RE market in US crashed. I saw some opportunity there and I borrowed 500K cash from my parents to buy a rental property and quit my job.

I'm back to a 9-5 job now to boost income because we are expecting a baby next year. I didn't want the baby to become an obstacle in my financial decisions.

So, in my example, getting $$$ from parents wasn't a bad idea as the property are bringing good money. But if you have no idea where to use that money. Get a job and don't expect that money any time soon. Only get that money as a method to accelerate your financial success.

The 500K I got from my parents isn't a big deal for them financially speaking. But it did help me a lot on building up my wealth (my properties worth close a a mil after mortgages I think, and they are good cash cows). If I were to do it all by myself, I probably need another 10 years to build a portfolio like the one I have now. I did in 3 years with their help.

^how old were your parents when they loaned you $500k? I'm just curious...did they have to liquidate some assets to lend it to you, or did they have the money in short term investments that were easily broken up?

^

26

Their assets are in RE and the shares in the company they have with my uncles and friends. They don't have much liquid assets (stocks/bonds)... but through the RE holding, they generate a lot of cash... so, no asset had to be liquidated to fund the 500K. I consider them to be fairly affluent today, (they clear 600K net a year, over 1M in good times) so 500K wasn't a big deal to them.

IMO, let's say you have a good idea on how to invest any amount of money from your parent, you have to consider what kind of return they are getting.

If they have to liquidate good assets that are generating fair return, don't be stupid. It's hard to make a buck today.

Yeah, but this is RS. Getting judged is free and part of the package.