Parents

I was always told that the children usually surpass the parents...
finacially speaking...

Do you think that is true in this day and age?

Re: Parents

In my case, yes.

Re: Parents

My parent's are divorced. I (not even we) surpass my mom, but not my dad. My dad & stepmom are very well off. But they made a lot of sacrifices to get there (work first, family second type stuff). I dont' think we will surpass them financially. But that is fine with us, plus we get lots of perks.

Re: Parents

Re: Parents

Usually, yes.

Re: Parents

no. I REALLY hope to, but my Dad is loaded, so it's going to be realllllllllly hard for us to surpass him. (and he started from NOTHING)

Re: Parents

For us, yes. Don't know if it would be this way if my parents hadn't divorced, though.

Re: Parents

I have surpassed my mom....but will not likely surpass my dad

Re: Parents

In my case, I have surpassed both my parents.

Re: Parents

In some ways yes and in some ways no.
I dont think salary-wise it will happen but my parents had 2 kids and owned a co op before he bought a new car and I have had one for 4-5 years already. I have all kinds of material things like a big TV, computer, etc. that my parents didnt have.

Message edited 8/11/2005 10:08:59 AM.

Re: Parents

We have definitely surpassed my parents and my MIL. My FIL is pretty well off, so I can only hope that one day we will surpass him.

Re: Parents

we have surpassed our parents.

Re: Parents

we certainly have not yet, but I think we will eventually.

Re: Parents

I hope so, but my dad has a doctorate and is a president of a organization and gets a free house, SUV, phone, cable, etc....And my mom has higher degrees and made quite a bit before retiring. My dad really wanted my brother and I to go to ivy league schools because he and my mom did undergrad at state schools and he had always wished he had been able to go somewhere else, but he wound up getting a doctorate from an ivy.

None of my grandparents went to college and my mom's parents emigrated from Scotland and started from nothing, so I think the largest difference for us was between those two generations. My two parents both really made themselves from nothing.

Message edited 8/11/2005 11:08:13 AM.

Re: Parents

We have definitely surpassed my parents, but then again my Mom was a SAHM for most of my childhood and only worked part-time when we were older..

we probably have not surpassed DH's parents, but then again I really have NO idea how much they make so we could be closer than I think

its amazing, I sometimes think of how much money my Dad made as we were growing up, which is a bit less than I make alone..yet we still lived so well (we grew up in a lovely home, I went to private school, my brother and I never wanted for anything) We weren't spoiled but my parents definitely did not struggle

Meanwhile, DH and I feel we can hardly make ends meet !! I could NEVER do it on the salary my Dad made in his life..

Re: Parents

well- with inflation yes.
But I wonder, with all things being equal, if it is always true.

Re: Parents

We have. and we had to do many things ourselves that our parents did not have to do, like pay for the wedding & college, and also come up with the down payment for our home ourselves.

DH was making more $$ than his parents by the time he was 25, and his dad had been at his company for 27 years.

Re: Parents

in my case, yes.

Re: Parents

Yes, I think that its true

Re: Parents

not yet.

Re: Parents

i think it depends on who your parents were. In my family, on my mom's side, my generation was the first to go to college, so obviously that makes a big difference. On my dad's side only one person in his generation went to college, and my grandparents were immigrants and 1st gen americans. So my FH, my Sister and my BIL all make more $$ than my dad ever has, simply b/c they are professionals. I think the next generation usually does go further because parents always want their children to do better. My parents didn't go to college, but they made a point that my sister and I had to go. I plan to go for at least a master's and I will encourage my children to do the same. I think the next generation generally does do better because they expect to at least go as far educaton wise as their parents if not further. In the future when people will have grandparents who went to college, etc, then it may level off because there's not a lot further to go. I mean I had to do better than my grandparents, they worked in sweatshops, and better than my parents, most likely, since they didn't go to college...

Re: Parents

I think that its true for the most part

Re: Parents

We might make more, but we are definitely getting less for our dollar than our parents did...

Re: Parents

Message edited 8/11/2005 6:00:36 PM.

Re: Parents

Posted by LMFitz

For us, yes. Don't know if it would be this way if my parents hadn't divorced, though.