LittleLebowskiUrbanAchievers
129102
3958
33
Apr 24, 2023 6:14 PM
LittleLebowskiUrbanAchievers
129102
3958
33
Astramancer
You don't have to spend $3.99 to find out who owns a property.
aPinchofMensch
"My parents bought me a five hundred thousand dollar home for me to punch holes in the wall when me and my also teenager gf get into fights." He added "we'll inevitably be popping out children in attempts to keep our marriage together"
Djones06236
When flexing goes wrong.
rbudrick
Who is this asshole?.gif
zoeytg
I owe my military benefits to the success and life I have. No house yet. It's happening of the housing market ever calms down.
Emuc64
It'll happen. Just keep any cash in a high interest savings or short term CD until the time comes. Best of luck!
GermanSausagesAreTheWurst
Trapped in a dump apartment working a shitty job until my mom passed away. Sold her house and bought a smaller house in a cheaper neighborhood, and used the rest to start a small business. I'll never be able to to retire, but at least I have a house and i am my own boss.
michaelfire
the myth of self-made wealth, that's why the New Deal included inheritance taxes- and why the Right got rid of them by falsely calling them "death tax", or saying they threatened family farms
mezzz
My manager and assistant manager quit back to back, owner put his 19 year old son in charge....this worked about as good as you'd expect....
thegarts
What a fucking douche.
dashriproc1
I grew up in a very wealthy neighborhood and have high school friends running companies who should definitely not be running companies. More like running them into the ground. (cue eye roll)
chufly
Seriously. I’d have more respect for these a holes if they said my parents bought it and I am just fortunate to have things paid for me.
victalany
2old2behere
Born on second base...
DicksmackMcgee
More like halfway between third and home plate.
2old2behere
Probably more accurate.
Samidk
cjandstuff
Recently realized one of the big motivational speakers on YouTube I like, a guy who tells you to get up, get out there and do it yourself because no one is coming to help you... Often mentions how if it wasn't for his wife, he'd still be a homeless high school dropout. Don't get me wrong, he's done some amazing things, but he had someone to help him and push him the whole way. So many people will tell you they made it on their own, but once you hear their story, that's not what happened.
vagimite
At 19 i was paying my parents rent as they were out of work due to illness and redundancy. Good on those who get help from their parents but life ain't the same for all of us
GuyPilot
Moving in together much less getting hitched at age 19 ... Well, that's a choice
Bhargo
Sometimes I wonder if these spoiled rich kids genuinely think they actually worked for all the shit their parents gave them
TheSecondPiewackit
I bought a house at age 33 because I have up full use of my arm, leg, and lungs in the Army. Yay VA loan...
wazeewa
"I worked my way from the ground up. When I started, I had nothing except a $5M check as a starter from my Dad and a financial net to catch me if things went under."
TexMexHex
Had a buddy buy a house at 19. He sold lots and lots and lots of drugs. But hey, he did it!
chufly
Bought my house at 35. Started a business at 32, no loans, very minimal capital, I faked it till I made it by booking clients. Zero help from parents or anyone else financially. Just hustled, hard, every single day. Paid off. We just bought our 6th van in the fleet. Our business brings fun to others. One thing is for sure, I’m not gifting or making shit easy for them. Fuckers ask me to buy a house, I’ll say work. I’ll pay for education and a head start but figure that shit out afterwards.
oocelScifiVillain
In many cultures. It's the parents job to make sure the new couple moves into a house.
OctopusSummoner
My then-boyfriend and I bought a house in 2002 at age 26. I refused to keep paying rent for a crappy apartment. There's no way we could have done the same in 2023. Interest rates were low, and the house was valued at half of what it is today. Our mortgage payments were comparable to the rent we had been paying, and we always pay a few hundred extra. We now have kids and we use every inch of our 5-bedroom house. For what we're paying on our mortgage, we couldn't rent a 1-bedroom apartment today.
asslap
Interest rates inn 2002 were about the same as they are today?
OctopusSummoner
Interest rates have jumped around a bit and we've refinanced twice to take advantage of that. Also, in 2002 it was easier to get a home without a huge down payment, and to get a bank to loan at a decent interest rate instead of jacking it up for young people without a real credit history.
oldguyexlurker
Half? We bought ours 1/3/2002. $159k. Zillow shows $560k current estimate. We pay $600/mo LESS than one of my kids and four other people pay in rent a few miles away, in half the house, on a fraction of the property. Granted... our place is not a mansion, but it is roomy and at this point... cheap!
Calicious
I bought a house at 33 with no help from family. The trick was to sell my life to the military. I don't recommend it.
goodguyC
I bought a house a couple years ago at the age of 35....I owe it all to my parents who helped me with college, helped me with student loan debt, let me live in the basement into my 30s, and generally always have my back!
xKagonu
Got my house from my uncle-in-law at 28. Rented for 6 months, down-payment gifted from equity. If that wasn't possible, home ownership would have never been an option for me and my husband. I'm extremely fortunate and finally understood the concept of generational wealth. It's good that your parents helped you out!
TheHolyFatman
I've given my daughter everything I can afford to give, went broke & at times, even skipped meals to make sure she ate. I got remarried, built a life and gave her a college education, a beautiful wedding and now....her and her husband cannot. Find. A. House. Because greedy people want 299k for a condemned house as a fixer upper?!! I wish I could help...but I cannot sway a market. I can, however, help with a down payment to the best of my ability, so..I will.
Imsickagain
There are a handful of people in my town who've split their acre lot into two lots so their kids can finance a build on the other part.
Emuc64
Congrats! It's nice to read about someone who recognizes and appreciate the supportive parents. That's the difference between you and the meme posted above. Positive energy to you and your folks!
barnsandnobel
I managed to squeek by at like 25-26 on my first house, but i got lucky. My best friends dad was selling it as is for like 55k. That was 6 years ago. It wasnt easy though. When i moved in there was a couple of drug addicts i had to put up with for a few months.
Elvirana
Same here. My parents in law gave us part of my husband's future inheritance early so we were able to buy a house. And my mother lent us 30K. Even my sister pitched in with a loan.
threepotatoesinatrenchcoat
The military paid for my college, but if my parents hadn't have let me move back in with them in my mid 20's I still wouldn't have a house
MenloPart
I am 44, rent a room in my mom's house, and have a little in savings, but I don't know that I will ever have more, and I expect to work until the day I die.
TomIsMyDog
Fuck yes! I wish everyone's parents were top notch like that.
wlfrnnr
I’m happy for you guys in this thread. For your supportive parents and the ability to buy a house. I want a house so bad, but my cards were dealt another way and my parents were poor and there is no money or support. At 37 I’m barely making ends meet with a full time job that pays fine in Sweden. All this to say; to have that kind of support and those parents are something other people dream of. Cherish it fellas.
Zzap1
Where do you live and what do you make, if you don't mind me asking? I'm in a similar situation but I am managing to save quite a bit for a down payment each month
goodguyC
I live in South Dakota...so cost of living is certainly lower than almost anywhere in the U.S.. And I'm a nurse, so fairly comfortable wages. But, we are the state with the lowest paid nurses. So cheaper housing, but lower wages as well.
SMB42
I thought I'd be bankrupt at 35. I'm now 43 & wife & I have bought our first house 1 1/2years ago!! We did take a loan to buy house & times are wicked tough right now, but we will make it! It's possible, just not easy. And definitely couldn't have done it without ma wife. I wish you all the luck you deserve (market crash🤞)
Guy954
I think that’s kind of their point. They are illustrating that for a lot of people it’s a huge factor in how they were able to do it.
elinveronicap
I probably would have been there too, but my dad bought a condo in the 90s (for ~$6000) that has increased in value about 30 times since, so he could mortgage it to help me with the down-payment. I'm incredibly lucky in this. One of my "winning the lottery"-fantasies is building a community where people who can't afford a mortgage will be able to buy the houses/apartments by having a "mortgage" with me and when they have enough equity they would get a real mortgage and I could use the money 1/
ronnyhugo
I've been drawing smaller and smaller houses as I find new ways to save room. I've got enough now to almost be able to make a comfortable 30 square meter place that actually feels like it has more space than a 55 square meter place. One day I'll build said house and have virtually zero expenses.
elinveronicap
to do it all over again. Get more people into home-ownership and build that sweet generational wealth. 2/2
alrightalrightalrightpartyatthemoontower
Oh hey American Dream. Not the reality for a lot. It’s mostly luck and ability to save and wait for the right time. And that’s sketchy right now.
[deleted]
[deleted]
Emuc64
Congrats!
PerpetualOddness
Same for me, except my gift came as a result of me losing a parent and two grandparents within a two year window. I'd rather be renting and still have them in my life, but I'm making the most of it now.
JayEnfield
Same. And thank fuck, because the real estate prices in my town have doubled in the last 4 years.
Emuc64
Congrats!
KarsonMadden
My parents said no 😢
Froggie243
My parent whined that I couldn't swing 15k for a Egyptian archeological vacation
DrMcPoJo
Then kill them and use the inheritance as a down-payment.
brobinson2001
Use the fact that they names you Karson as a guilt trip. It's shitty that they named you after how you were conceived.
Jt68686
This guy is a lawyer for sure
dohcohv
I'm happy for you, and a bit jealous. I worked, and scrimped and saved to buy my house. I was living off essentially potatoes and rice, I rode a $700 moped to work. When I finally got enough to put down on a house, my roommate's mom gave him the down payment for his house. I pretty much cut off my family after they wanted me to quit school and help them with bills so my stepdad could quit his job and get his third degree.
Emuc64
While there are others who didn't have to work as hard as you or undermine your goals for their own benefit, you did it. Congrats to you and your determination to save and buy your house. That's huge and something to be proud of.
FabergeBurrito
We bought our house at 23. It was a $40k fixer-upper that was sold to us on a land contract for $10k under sales price. I'm beyond blessed & never could have owned my house if it wasn't for people who love me & want to help. Why is pride such a huge thing that you gotta bring down & disregard those who have pulled you up to where you are? That turtle didnt run up that fence post, man.
Spooner1
In my area, 40k would not buy even an empty lot.
zFUBARz
40k is astonishingly low even for a fixer upper too. I don't think you can buy a woodlot for that anywhere in my province. I assume this was some years ago. Not to tear you down at all, Just fascinated by that number.
FabergeBurrito
It was 9 years ago! I live in a very very poverty stricken area. Even at our highest income, we were pulling in maybe $45k a year without financial aid. Our payments on our land contract are $400/mo. We owe all the credit to people in our lives who saw some kids down on their luck & decided to pay it forward from when someone did the same for them at our age.
zFUBARz
About the same as me timeline wise and yeah my area we paid, well are paying 320k or so. Wild. Well congrats to you my dude. Keep paying it forward some day when you can. Thanks for the update!
FabergeBurrito
Absolutely! Husband & I are debating a passive income situation. In my area, it doesn't take much to get a decent income & even charging a very low rent on a house is ample to make a decent living on a humble lifestyle. That's my goal! Help people but help ourselves along the way.
kgfox
the point is he's bragging about doing it all himself. And he didn't. The point is that people are bragging about doing it all themselves and bragging about how easy it is doing it all themselves. Hope this clears it up
FabergeBurrito
Oh I know, I'm just saying it's goofy & makes you look silly when you get busted out for lying about it when all the credit goes to someone else. Just give the credit to the people whom it belongs !
MmmmmSoup
My sister always lords it over me that her and her husband own their own home. And then gets super pissy when I mention they only got it because his mother gave them a loan
10MinutesSoberAndCounting
Sounds like your sister is a bitch. Be sure to tell her I said that next time she starts acting like a bitch.
MmmmmSoup
Haha she has her moments she's usely pretty nice but you know siblings everything's a competition at some point
Bananasandwiches42
My sister is like that sometimes. I tell her something and she responds back with something that's "better" than what I said. It's like she's always trying to one up me.
MmmmmSoup
Older sister ? They always try to one up
Bananasandwiches42
Ain't that the truth..
witheredspoon
Don't you love it when your parents pay for your bootstraps?!
jbhenninger
Reply to those people. Y'all telling people to pull themselves up by their bootstraps while your parents still tying your laces....
georgedragonslayer
I understand, respect, and love what my parents did for me. Still do.
mcmachack
These boots straps are made from the finest leather from the Company their Great Grandpa started in the 30's
TheWombatStrikesAgain
Not to mention the professional bootstrap-pullers they hired. Because why would I bow down to reach my shoes, I'm not a peasant.
RandAIFlagg
fully automated hydraulic boostraps with self-lifting grip
AccountCreatedToUpvoteDogs
Mine covered my college tuition, and I do love it and appreciate them for it. I was able to buy a house at 28 thanks to that.
Duskz
And then pay for someone else to pull said boot straps up?
mrthewhitee
Turns out just like reap bootstraps, only someone else can lift you up by them.
Casually
Non-inherited bootstraps are rare.
TheCanadianGuyThatSaySorry
You can have non-inherited bootstrap, but it take time, it only happen at 30-40 years old. At 19 it's all daddy and Mommy money, nothing else 99.9% of the time
PunkRage
I cut my family out of my life for not accepting who I am and lemme tell ya. These boot straps do NOT wanna come up. But I'm gonna pull the bastards all the way to my shoulders one of these days
BROpeep
Didn't inherit my bootstraps... Directly. Was part of the 'Alberta' advantage and have no delusions that it was a good chunk of luck on top of hardwork/saving
AvocadoHouse
I’m my 20’s, I was naive about this concept. I tried to do everything correctly while my friends were passing me at every step. They were buying homes, investing stocks, and building businesses. I was just working for a living. In my 30’s, I realized all those friends who were way ahead of me had parents pretty much pay for everything. Many of my friends had allowances while in college, then allowances after college, then investment money into businesses. I was completely scammed into this idea
thedudeman519
Meanwhile folks like us were helping our families with half our paychecks since we started working at 18 .
Morbidly0btuse
Yup that's sadly how it goes most of the time. I also had those friends and in my early 30s I found out all of them had their parents pay for pretty much everything I had to work for and more. I mean, nice for them, but I legit thought for the longest time that we were all in the same boat and didn't have a clue that none of their 'accomplishments' were actually the result of their own investments of time or effort. Just the luck of the birth bingo.
AncientBreadcrumbs
And the people that pull you up for you
LittleLebowskiUrbanAchievers
kroske1
But now i have to wonder how he didn't wreck is younger self if it was a Shockwave and he was right behind him....damn it.
SleepyHollowAppleTree
Older him blocked it.
Dontdeprivemeofmydelusion
I loved this movie
EveryGOPAccusationIsActuallyAnAdmission
You and me both, it was way better than it had a right to be!
Infinias
What is it?
EccentricNimoy
.
thedudeman519
The Adam Project
BaalkpanBay
Secret Headquarters (2022) iirc.
EveScreenshotAccount
Ryan Reynolds movie about time travel.
TeelMoobeel
I tell you what, if I could buy my fam a house for each of them, I would. It's generational wealth, which is what Americans both loathe in others (or envy) and crave for themselves. Is that hypocrisy?
Dontdeprivemeofmydelusion
Inheritance tax and gifts to children should come at a steeper price.
HolyShitDudeCalmDown
Over a certain amout, yes.
VolcanoHerder
It should be a sliding scale, like tax brackets. The more you gift/inherit, the more tax there should be on it and it should get REAL steep if it's anything over $100k.
Predicto
Already the law. An the estate has to be over 12 million before it gets taxed at all.
TeeweeAndSmashboy
Aim higher.
cmsport2
That doesn't work if you inherit the family home for most people. It could be small, but bought by parents decades ago, so now worth much more than 100k.
AltruisticMoron
100k is nothing... maybe 1million?
Predicto
its currently 12 million before taxes kick in.
cmsport2
That seems fair. It would account for inheriting parents' house they bought long ago and maintained so now it's worth way more. If you inherit a house worth more than 1 mil, then you pay the steeper tax.
TacoPoweredHelicopter
$100k sounds like alot but for most people it won't change there lives at all long term. They could shirt term splurge but it's just not alot.
brobinson2001
I could dump $100k into ETFs and a couple of dividend-bearing stocks and get back enough interest in a year for an FHA downpayment on a decent 2bdrm house, and use just part of each year's dividends to pay the mortgage. But that'd be ALL it would be used for: untouched principal. Maybe reinvest what's left after paying each month's mortgage.
TacoPoweredHelicopter
Assuming constant profit, I'd going to be a bad time.
brobinson2001
Whoever's downvoting, my ORC, PSEC, QYLD & RYLD are doing 10-13% right now. I also live somewhere where a 2bd/1ba isn't $800k.
TacoPoweredHelicopter
"right now"
pullingsixty
Sometimes inheritance and gifts are not much of a windfall. Wouldn't want to see people who's lives will be elevated or perhaps even saved because we lack the willpower to tax the rich.
Predicto
the current estate tax exempts the first 12 million of the estate. That is MORE than enough. The overwhelming majority of estates are not taxed.
pullingsixty
I'm in Canada where there is no estate tax at any amount. I'm not defending rich people. Income tax is every year, inheritance is usually once or twice in a lifetime for most. I say make income tax more meaningful, make the rich pay their share. Pivoting to make estate tax reform a policy objective will just give the pols something to point at and say look, we're being effective.
Dontdeprivemeofmydelusion
Why not both?
pullingsixty
Sure, but haven't successfully implemented one yet.
QuiteGoodSir
You have to be careful with the way you write the rules when taxing asset transfers, when things like farm land/equipment get transfered it's a large exchange of taxable value with very little liquid cash to pay taxes. So a large family farm could require a sale of land to pay for taxes. You would have to make some rules based on asset type or land use/cultivation to allow for this type of transfer.
TacoPoweredHelicopter
I think taxing it at the source is better, but I understand for things like really old family money.
jekath
I lost my dad a few years ago. He left some money. Not a whole lot, but some. And I paid like 30% on that. I'm ok with that. It's ok that it goes to help others. Keeping wealth concentrated isnt good.
Predicto
The current estate tax exemption is 12 million dollars. If you got taxed 30 percent, you should sue your tax advisor.
jekath
As someone else said. Not everyone lives in the US.
Predicto
My mistake. Should have thought of that.
MrPhreak
Or you know, one of the very few people who live outside the United States
Predicto
fair enough. My bad.