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  1. #71
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    Quote Originally Posted by rosey82 View Post
    For those of you whose parents have given them hundreds of thousands of dollars - are your parents now self funded or retired on the pension?
    My father was on the old super scheme, got paid about $75k/year tax free in his retirement and owned his own home.

  2. #72
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    My folks are retired. Dad was in 2009 due to his health. He is on an army pension/tpi so the amount he gets for that way surpasses the regular pension. It's around $1k a week he gets. He also has a super fund but nothing major only around $60k. Mum sold her business in 2009 and retired then she gets a carers allowance and pension for my dad. She also has super of around $150k. They own 2 houses outright and the 2nd one they rent it for holiday makers. So that pays for the bills it has each year to run it. They don't splurge or buy fancy stuff. Very good at saving money. They'd rather see their kids keep the roof over their heads then for them to go with out. Don't get me wrong they stil enjoy life. They've returned from being o/s the last 3 weeks and are always having holidays. They bought into timeshare in the 80's when it was cheap

  3. #73
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    Quote Originally Posted by Hetty View Post
    My father was on the old super scheme, got paid about $75k/year tax free in his retirement and owned his own home.
    my dad also retired on an old defined benefits scheme. it'll pay him/my mum (should he die first) a pension until they both die. he also had an accumulated benefits fund. my mum never worked really but she's an only child so she was the sole beneficiary of her deceased parents estate in the U.K. so the proceeds of that was essentially her retirement fund.

  4. #74
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    Overall a little bit but not a huge amount. I got my first part-time job at 14 and paid for all my clothes and spending money from then.
    I left home at 17 (not really by choice) and became fully financially independent. I worked throughout uni and paid every cent of my uni fees, books etc.
    The help they did provide - my dad bought me a $2000 15 year old secondhand car when I was 16 which was great. They contributed about $1500 to my first wedding. After I got divorced they helped me out paying out my car loan (about $8k) so I could get a mortgage on my own to buy a unit to start again. So all up $11.5k. I haven't had a cent from them since.
    To put this in context though they provided my brother with tens of thousands of dollars in support and bailouts (at least $50k over the years) and still support him to an extent now (he's 38 and lives with them) even though they can't really afford it
    They've made a series of bad financial decisions over the past 15 years and are now struggling financially. DH and I have had extensive conversations that we will have to take over their mortgage (and have offered to) eventually when they can't work any longer. They are mid 60s now. I fully expect the $10k financial support they gave me for cars to be dwarfed by the financial support we will need to give them in coming decades
    DH hasn't had a cent from his mother since he finished school as they're estranged.

  5. #75
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    Wow, some very generous parents!

    Zero here. We saved up for house deposit, cars, IVF etc. ourselves. We're not married yet but we'll pay for that ourselves. Wouldn't have it any other way, we had the ability to work and save money ourselves, glad we did it all ourselves. Not that I would have knocked back 100k

  6. #76
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    I just want to add. Even though my folks have given me heaps of cash over the last 10yrs prior to that I never accepted anything from them at all. My first house I saved the deposit and bought it back in 1999. First car I drove an old bomb til i was nearly 24 then got a loan to buy a new car. It was only when i became a solo mum that they started to help me out

  7. #77
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    Quote Originally Posted by delirium View Post
    Will you buy her a house outright? Tell me your secret!? Do you own now?
    We own now yes. But she rents. And pays heaps and can't do anything etc garden etc.. Or paint. So she said she would rather me buy a house and she pay rent towards that. Okay so I'm technically not buying her a house but we will give her so much more freedom and I trust my mum. She's been in her house for over 16 years. Her house has no lights she uses lamps but she's to afraid to bring it up. In fear of being evicted as the market is so competive.

  8. #78
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    My parents have never been in a position to give us large sums of money. They did, however, support us really well when we lived in their home. I never had to pay board, but I had to pull my weight around the house. My uni fees were paid by my parents until I moved out of home. My dad bought me a $80 bomb for my first car - and I loved it. They paid for my wedding. After my wedding (at age 20), I moved out of home and was expected to stand on my own two feet. I know if I needed help and asked them, they would do everything they could to help me - I'm glad I've never had to ask though.

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  10. #79
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    Until I finished uni I lived rent free with my parents and they bought me a car and paid for everything. I don't think I ever saw a bill while I lived with them haha. Once I started working ft I contributed a small token amount until I got married and moved out.

    They gave us $10k for the our home deposit and another $10k for a new car (my old one passed down to my brother). They also paid for the wedding reception. However we treated it as an interest free loan and we paid them back within the year. They didn't ask for it though, we just wanted to give it back.

    DH parents are not as comfortable financially so haven't been able to help as much but that's fine. We try to help them out instead 😀 though they have been taking about downsizing and giving us a lump sum to buy a bigger place. As much as i'd love to move out of our crappy old unit (do not look forward to the three storey climb when I'm heavily pregnant!!!!) im not comfortable taking money from them. Would rather they invest it for themselves or use it to give his younger brother a leg up.
    Last edited by Silkentofu; 29-04-2017 at 22:37.

  11. #80
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    In-laws, bugger all. In fact, over the years we've helped them but am finally done with that now.
    As for my parents, my mother gave me $5,000 last year to offset the financial difficulty father-in-law landed us in and I have paid every cent of it back.


 

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