Re:The New 30-Something
by chaostheory on Monday March 04, 2019 @05:44PM
(#19306413)
> I wonder if the obligation to take care of your parents is less pronounced in eastern households that are wealthier.
For East Asian families, it's still there but it is non-existent from a financial perspective. It's no different from the article even though it describes the US. I've personally seen several scenarios of approx 30 individual families:
1. Kids were either extremely spoiled so they ended up with a poor work ethic, were incompetent, or both. They are not millennials. Parents ended up supporting them for the rest of their lives. Their wealth eventually consumed in one generation with their businesses either being sold or destroyed. In all these cases, the parents were content with grandchildren.
2. Kids were high achievers. Stereotypical scenario of getting into the Ivys or international equivalent, with the right finance, law, or engineering jobs right after with continued progression. Parents still gave a lot of financial gifts even though they weren't needed.
The only real expectation when the parents are financially well off is that their children still take care of them when old age becomes an issue i.e. no nursing home. parents will live with one of their children until they die
For East Asian families, it's still there but it is non-existent from a financial perspective. It's no different from the article even though it describes the US. I've personally seen several scenarios of approx 30 individual families:
1. Kids were either extremely spoiled so they ended up with a poor work ethic, were incompetent, or both. They are not millennials. Parents ended up supporting them for the rest of their lives. Their wealth eventually consumed in one generation with their businesses either being sold or destroyed. In all these cases, the parents were content with grandchildren.
2. Kids were high achievers. Stereotypical scenario of getting into the Ivys or international equivalent, with the right finance, law, or engineering jobs right after with continued progression. Parents still gave a lot of financial gifts even though they weren't needed.
The only real expectation when the parents are financially well off is that their children still take care of them when old age becomes an issue i.e. no nursing home. parents will live with one of their children until they die