Inter-generation responsibility

[Nik]

Discussing various issues we slightly touched these things, but maybe we can take them head-on. It's clear that parents have responsibility for their underage children. But does it go beyond that and whether parents should strive to care for their grown-up children too, by maybe buying them an apartment, helping financially, leaving some assets?
And should kids in their turn care, inter alia financially, for their elderly parents?
Speaking more generally, should one generation (say - working age) subsidize other (say - elderly)?

[[deleted user]]

I believe in each generation helping each other, the way people did in the Middle Ages. Then, parents raised and supported their children until they were adults, with the children helping as much as they were able to, mostly in farm work. Later on, the older people helped their children by helping care for their grand-children, in return for food and shelter.

This business of young adults (past 20 years old) who insist that their parents are 'obliged' to keep supporting them financially is in my opinion the mark of selfish and lazy young people who expect others to provide them everything.

On the other hand, if grand-parents are still sound enough of mind and body to help raise and watch their grand-children, then they should be ready to do so. In fact, I am anxiously waiting to have my first grand-child, so that I could cuddle/spoil him/her and, being fully retired, to help my son by babysitting his children when needed.

[Scout]

I'm with you, Michel, when it comes to grandchildren. I've yet to have one, but I'm looking forward to it as long as I'm not expected to be a one-woman day care facility. I still want my independence, but I'd love having a grandchild.

My son is my only heir, and I want to make sure that, as far as possible, taxes don't eat up what I have to leave him. It's the principle of the thing. And I also want to help him financially while I'm still here, as my dad did with me when he sold me the family home. He made me a deal I couldn't have gotten anywhere else for a house in a safe neighborhood, and that enabled me to retire at a fairly early age.

I hope that my son will do for me as I'm doing for my parents in their old age, but I'm not counting on it, as males aren't expected to do the same kind of care taking. I'll have enough set aside for my care.

[Nik]

I hear parents speaking of buying an apartment for each kid. Is the same talk on the agenda in your area? Or paying for higher education?

[Ian]

I think it depends on how strong family values are maintained. I have been lucky here in that my children are still keen on seeing me and helping out, but then again, the number of hours Claire and I put into helping with grandchildren has been rewarded. The question is are you prepared to go collect them after kindergarten and look after them for the afternoon?

[[deleted user]]

Since I am fully retired, yes, I would be most willing and happy to help by collecting my grandchildren after kindergaten and babysit them. In fact, I would love it!

[Scout]

As far as apartments and higher education, I guess it depends on your financial resources as a parent. I'd rather help my son now when he needs it rather than make him wait until I'm dead. He'll get the money either way, but this way, I'll be here to see the results.