I don’t understand why parents are paying their kids. Tuition make them pay for their own education. Time to cut the umbilical cord people!
@mollieanne5 сағат бұрын
And they are not even their kids, they are her sisters kids!
@rachaelnuchols7648 сағат бұрын
The kids in college need to pay for their own college. In lots of states community college is free for 2 years. Those other adult people in the house need to contribute, i didnt hear them say if they were.
@michellewinkler39852 сағат бұрын
exactly!
@noanyobiseniss746218 сағат бұрын
And these are the same people that think I'm crazy because I don't want to add more children to this overcrowded world!
@yvonneplant94345 сағат бұрын
Some of them are.
@Peg385424 сағат бұрын
The fact that this couple has such an enormous house is a blessing. Some families are doing this in an apartment.
@djm21899 минут бұрын
Exactly!
@gailkellas21477 сағат бұрын
If your waiting for enough money to retire, It will never happen.
@yvonneplant94345 сағат бұрын
Investments will absolutely help. These people can help themselves by not buying the latest tech to start.
@NomenClature-o8s5 сағат бұрын
Pro tip: start 30 years ago.
@brianloughnane781Сағат бұрын
I did ROTC in college. My brother too. My son as well. We got tuition paid for. Plus a stipend. Service requirement was reserve duty. But I chose active duty. Did my time then got out. We all bought homes via VA loans. My house is paid off. I have no debts today.
@taffyalusa46426 сағат бұрын
So they are paying for they're kids college which puts them at risk of not having enough funds for retirement and increasing the odds they'll end up being cared for by their daughters!
@frugalitystartsathome48893 сағат бұрын
I am extremely confused as to why, exactly, they are financially responsible for a parent, sibling, sibling’s offspring and the cost of their children’s education, despite the children now having flown the nest. That sort of burden is absolutely absurd, and there’s no way anyone could manage it without input from the parent / sibling and children. Methinks we’re not being given the full picture here.
@djm21894 минут бұрын
Exactly! This can work very well if everyone contributes and as an American with Mexican heritage, many family members do this and everyone saves money. We never allow someone to not contribute. Equal parts everywhere
@NicholasSebastin9 сағат бұрын
The sandwich generation often faces a financial squeeze, juggling support for aging parents and raising children, which makes saving for retirement a real challenge
@FedrickWhite-jo2ed8 сағат бұрын
Balancing immediate family needs with long-term goals like retirement savings can be tough, especially with rising healthcare and education costs eating into disposable income.
@JoshuaMartins-sr7ez8 сағат бұрын
Many in the sandwich generation delay retirement savings to focus on supporting their children through college or assisting their parents with medical expenses, which can set them back significantly.
@SarahGonzales-sk6tn8 сағат бұрын
It’s common for people in this situation to feel financial pressure from all sides, and without careful planning, their own retirement can get pushed to the back burner.
@AdamPeterson-dm8wg8 сағат бұрын
The sandwich generation might benefit from working with a financial advisor to create a strategic plan that addresses both their short-term family obligations and long-term retirement goals
@JoshuaMartins-sr7ez8 сағат бұрын
Saving for retirement becomes more difficult when you’re also helping parents navigate long-term care options and managing rising living expenses for the entire household.
@xg....3 сағат бұрын
You can have a $100k/yr career from a community college, for $15k, after 3yrs tops.. people paying half mil for their kid's Art degree are beyond help or empathy
@connor_flanigan4 сағат бұрын
"more than a half a million dollars in debt." of course they "have" to have a new 5,000 square foot house with granite counter tops and stainless steel appliances. a hundred years ago, you would have to be the owner of a factory or bank president to live in a home like this.
@dave2302418 сағат бұрын
Yeah, it's called Gen-X. The generation that paid for the Silent Generation, the Baby Boomers, and the Millennials, but the media struggles to ignore them. Again, that's Gen-X. G-E-N-X.
@kamuelalee12 сағат бұрын
Word, not the effing "sandwich generation." Gen-X represents.
@desiv11702 сағат бұрын
I'm confused.. If you're GenX, why do you care? As a GenXer, I just want to be left out of everything. The less said, the better. Shhhhh!!! ;-)
@dave23024Сағат бұрын
@@desiv1170 Are you confused? You're nosy and narcissistic, but not confused. You're a troll who thinks they represent all of Gen-X, but not confused. Well, I hope that cleared up any confusion, champ! Just let me know when you're feeling confused again!
@desiv1170Сағат бұрын
@@dave23024 LOL... But - and I am only saying this because I care - there are a lot of decaffeinated brands on the market today that are just as tasty as the real thing. Just joking there... It's all good.
@dave23024Сағат бұрын
@@desiv1170 Nah. You've tried your little narcissistic "I'm confused" intro on a million people, and it's worked a million times, and you're literally staggering right now because someone shut you down before you could even get going.
@cutehumor5 сағат бұрын
Nothing wrong with helping the family in this evil world
@BluDynamo3 сағат бұрын
I know 4 sets of parents that chose to pay for their kids college education. Just 2 kids out of the 11 that went to college actually works in the field that they went to college for!! So the parents paid for all of that and only 2 of them even used their degrees for anything that they are doing. 1 kid went to a vocational school instead and became a welder....he also paid his own way and insisted on doing that because he felt that HE needed to invest in his own future. He's amazing, hardworking, and a kid I would be super proud to call my son. The other ones, that don't work in their fields of study, either chose degrees that paid garbage and when they finished were not applicable to any decent careers at all, or dropped out completely after a couple of years. I just don't get why people do this, spend all of that money, and sacrifice their own future based on a young person's fickle decisions.
@kerri55954 сағат бұрын
Here's an idea: let your kids take out their own loans for college! I paid off my college loans in 6 six after getting my first job. The coddling of our children into their mid-30s is astonishing to me.
@joseperez108517 сағат бұрын
Let your kids have skin in the game and pay their school
@RobinMcIntosh-v7p3 сағат бұрын
You don’t “Have” to house your sister and nieces. I notice the sister wasn’t in the clip. Why? Probably because she’s embarrassed. Your mom, yes. All day long but your sister? Nope. And community college is a great option for your kids. Sorry. This is a choice not an obligation
@tranger457952 минут бұрын
I’m 50 with a paid off home,car and have zero consumer debt. 500 grand is crazy. I have 2 daughters 18 and 21 both in college living and home and working no rent or utilities but they are paid their way through college.
@miamivicefanatic973612 сағат бұрын
They can downsize that huge home and put the profit into their retirement nest egg.
@mannyp5823Сағат бұрын
Great video, thanks Jill 👍
@EdwardWilson-h5n17 сағат бұрын
I'm 63, retired, and I've had my money in S&P 500 funds (100℅ stock) since I started investing. I have made a great deal of money with my FA Kathie and I see no reason to change. The S&P 500 has made an average of 9.8% returns over the past 100 years. International and Bond funds are losers in my opinion because they don't make much money. This is just my amateur opinion which may not work for everyone
@SherriMiles-f4i16 сағат бұрын
How did you manage to succeed? I want to invest more wisely because I have a lump sum that inflation is slowly depleting
@EdwardWilson-h5n16 сағат бұрын
Finding FAs like Kathie Daisy Bosco who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@SherriMiles-f4i16 сағат бұрын
Thanks for sharing, I just looked her up on the web because this is equality important to me, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@JamesWells-e2v16 сағат бұрын
The thoughts and ideas here are remarkable
@alexandriabrown13887 сағат бұрын
You don’t need a FA to invest your money in an index fund. You can do that yourself. You should also lower your risk tolerance by investing some money in bonds in retirement. That way you will have hedge against inflation and financial stability as you age.
@mark715653 сағат бұрын
Those kids better have 3 jobs each to help out
@michellewinkler39852 сағат бұрын
We never took out college loans. We paid 1/2 and they worked part time to pay toward the tuition. When they graduated they got good jobs and finished paying off their loans. I have no idea why parents get themselves in this situation. We are almost ready to retire, house paid off, no debt. Feel sad for these people, but they made their choices. When you hit 60 or 65 you do not have the same energy as your 50's. Be careful what actions you take now, to set yourself up for, for the future.
@Kelompok16SistemMultimedia5 сағат бұрын
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
@StaffSpecial5 сағат бұрын
People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
@BillySampson6815 сағат бұрын
You are so correct! Save, invest and spend for necessities and a few small luxuries relatives to one's total assets ratio.
@CarlosGarcia565905 сағат бұрын
This seems like the worst period. Even the market are now very unpredictable. Started investing recently when the market prices were a bit high, today I am more than 60% down!
@KathyJvanest5 сағат бұрын
Don't be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60% + from ATH does NOT make it a sound long-term investment. Make sure you're investing in great companies. kudos to SUSAN OWEN
@christopherbasham1551Сағат бұрын
$500K in debt at 50+ years old, that's crazy.
@anthonykence9954Сағат бұрын
They are living in a home they don’t need. 500k Debt is crazy. Living boyond their means
@MC-bm3cy6 сағат бұрын
I feel for them…there has always been a sandwich generation. Take the w-2 limit off of Social Security. Wage growth must outpace inflation.
@frankoh319318 минут бұрын
Did I hear they must pay student loans for their two kids? Their kids can find full-time jobs and go to school. Also, why do they make car payments or payments? Get reliable used cars or cars so they don't have the payments. In the end, they brought themselves.
@Coover902108 сағат бұрын
The parents owe .5MM for daughters college loans? "No" may not be what people want to hear but sometimes it needs to be gently said. Talking mostly to you, sir ...
@NomenClature-o8s5 сағат бұрын
Everyone struggles to save enough retirement. Don’t buy new cars. Don’t buy expensive clothes, take cheap vacations. Set aside a monthly savings and don’t dip into it.
@romeysiamese66623 сағат бұрын
Did all that. Never splurged. Just paying the bills. It’s still tough. If you have 1 medical emergency, if you take care of a parent…it all affects your situation. No insurance. Working at 62, small pensions, husbands SS, no debt….have a roommate that lives with us …..just making it.
@firstlast-oy7uk18 сағат бұрын
If you get divorced, it could significantly impact your savings, which may make retirement challenging. Instead, consider continuing to work-this way, you can still collect your full Social Security benefits while earning a salary. Unless you're facing health issues or dislike your job, staying employed is a great way to maintain financial stability and stay engaged.
@wt96533 сағат бұрын
Don't feed them steak sandwiches. Feed them single bologna sandwiches with 1/2 teaspoon of ketchup. They'll get the message and move out. 😂
@mattbleiler72947 сағат бұрын
The amount of money they save by all living together 😮😮
@yvonneplant94345 сағат бұрын
Boomers had the same issues. Gen-X( Norah is Gen-X) will just have to figure it out too.
@ddellwo11 сағат бұрын
They looked like they were having a blast at dinner………😵💫
@kathleenu44614 сағат бұрын
The problem is learn to say no, unless one of your children plan on taking care of you. No always works for me. I have made family mad, but they find another way to solve their problems. They have said no to me in the past. Clark Howard always says that your children have many decades of earning potential and you don’t. Pay yourself first. Don’t buy what you can’t afford and live like a poor person. BTW, stop with this passing down generational wealth headlines. It probably won’t happen and millennials and Gen Z are getting their hopes up. Tax man cometh that is a fact!
@schlazer-merv4 сағат бұрын
Everyone has their own living situation. Some people live with family members, some don't. How about calling it the quit bitching generation. If you don't like your situation, change it!
@AdilMouhammed-zf1br11 сағат бұрын
Sacrificing is the essence of morality and saving will be coming. Elahom will rain you with the money. Trump Biden inflation has been cutting our saving more than what we pay to help others. Politicians are hurting us. Go check to see the accuracy of my point.
@benb653557 минут бұрын
Haha....Haha.....retirement. Most of us will be working until we're in our 80's or until we die