Supporting Kids Financially In Adulthood? | The View
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I agree, always pass down money but pass down money management too.
Right like they can pass it on and put rules
I’m really surprised that no one mentioned the current cost of living and the impact it’s having on the younger generation. Rent and food costs are sky high and these kids are going to need more than “boots”, more like hip waders.
These women are all multi-millionaires.
@@blackout07blue Now. They weren't born that way
@@blackout07blue These badass women CREATED their wealth. Whoopi did not go to college, she worked her way up in the entertainment world: Sunny crawled her way out of the Bronx projects with sheer determination and hard work; Joy's mom was a seamstress but she went on to college at a time when few women did, which is admirable; and I don't know about the other two.
@@breal7277yes but they have been rich for decades now
@@breal7277 sure, but they grew up in a time that was MUCH easier to come up and be successful as long as you had the drive. Nowadays, you’re competing against the Internet, and social media, and all of the influencers. Everyone is a comedian or has a podcast or an OnlyFans page.. so even if you wanted a side hustle, you have to work super hard just to make a little bit of money because you’re competing against the rest of the world. Thanks to technology.
There is a difference between supporting children financially (ie regularly paying bills for them) and helping them out during rough times. A big, big difference. Also, this panel all has money at this point and I think they forget the fact that many Americans, regardless of race, don't have any generational wealth to pass down. And that number is only growing.
Who decides what a rough time is though? There’s no “big difference” as long as you communicate with each other and have a plan in place. My mom helped me out on rent for a few years while I looked for a job that would actually help my career growth. I graduated college into the pandemic. Sure, I could have taken a job just to pay the bills, but I wouldn’t be in a position I actually enjoy pursuing. I don’t think there’s anything wrong with supporting a child YOU brought into this world until they can be comfortably on their own feet.
Suppose the child doesn’t “make it”?..or have emergency that they can’t afford..I hate when people do this..
I have the opposite opinion. I have struggles through life. Grew up dirt poor, living in a city that was voted the most impoverished city in the US about 4 times, so just some context. We have nothing, so my parents couldn’t leave anything, but what I did get is a strong work ethic, I had to work for everything because nothing was given. If you didn’t work you didn’t eat. Now, does that mean I shouldn’t help out my kids when they are in need? Absolutely not, I want them to have a better life than I did for sure, but if they have entitlement, like Sarah, said they can forget about it. I can be there to support them in hard times, but they will learn the value of hard work and independence for sure, just incase I’m not around to be able to help them and no one else is as well.
If you don’t leave your kids money there is something wrong with your relationship with your kids.
Agreed.
Though I agree to an extent a lot of families won’t pass money for two reasons : conflict dynamics that may rise issues after they pass and, that the parents don’t want their kids to have the easy way out and want them to continue to work hard for their income.
That's right Whoopi!!!!
If I have the money and my kids need it...I give it. If the kids are trying and failing in this economy....it is no crime to give what you have to keep them afloat.
My kids are 55 and 58 and I am still helping.
This is the American conundrum, I was born and raised in Trinidad and my parent's would NEVER, ever ever, leave me with nothing, until their dying day they would work for their children, their sacrifices are innumerable. My siblings and I are extremely successful, working in management, michelin kitchens, arts, law. Our parents made that possible and not because they were rich at birth. They worked for every penny they had and gave it to their children. I will never understand why you would bring someone into the world and then say to them "your turn to figure it out", if I ever have kids and I can give them a leg up in this world, I'd give them everything I had and more.
Our parents supported us by making sure we had excellent educations and learned early on to work to get the extra things we wanted, like designer jeans and other non-necessities. I think we're better off for it.
Dear diary….
Rule #1 - Teach your kids to stand on their own 2 feet. It is crucial to their survival in the world. IMHO.
😂😂😂 that’s deep
And how shall they accomplish that when everything is so high
He lives in everyone's mind cause he won't go away, and he is always in mess.
@@lovewins85 How about teaching them about budgeting, saving, investing, living a debt free life, having a strong work ethic, delaying instant gratification, buying a used car instead of a new one, not buying Starbucks every day, teach them how to cook.....for starters.
@@9liveslisa 👏 👏 👏 👏
Sunny Hostin is doing right by not wanting her children to struggle like she did. My mother is similar to her and I'm going to try to be the same with my child or my children
I know Sunny has talked about growing up poor. But she went to a private, all-girls prep school. She also grew up with two loving parents in the home. So she had a lot of advantages that others didn’t. She talks as if being poor was because she was black. But her mother was an immigrant, and both her parents were teenagers when Sunny was born.
All on the backs of white people who gave advantage and $$$$ every step of the way..... She couldn't go anywhere if it was Africa....
@@danamarie8718 Her parents were teens and you think she didn't struggle ?
How many teenage parents do you know who live a nice comfortable life?
You also seem to have forgotten that Sunny got grants because she was extremely smart and was a straight A student.
The government always gives grants to poor kids who have great potential like Michelle Obama and co.
@@ritauwimana7647 You just proved my point. “How many teenage parents do you know who live a nice comfortable life?” (Your words). The answer is none. And it has nothing to do with skin color. But Sunny always has to make it about race regardless. And I never said she wasn’t intelligent nor did I say she didn’t struggle. But many kids, of all races, struggled more than she did. So she needs to stop with the black woman pity party race baiting BS.
This is something I feel so passionate about: one of the most important gifts you can give your kids is the skills to be resilient and financially responsible. Raise them to know how to stand on their own two feet so they don’t need to think about inheritance.
Unfortunately, I’m watching people around my age, in their late 20s, who weren’t taught those skills, who have had their parents do everything for them as children and rely on them to bail them out now. Someone I work with often has somewhere between nothing and $10 in her account 5 days before she’s next paid, and that’s because she wastes money on takeout, online shopping and events. When that happens, which is almost every pay cycle, her plan is to grift off her friends and family. We all have bad weeks here and there where all the bills come at once or there’s an emergency, and so you need a little help - dinner at a friend’s place or something - but when your entire financial plan is using other people to pay for your essentials so you can use your money on the fun stuff, that’s a problem. I think it’s the aftermath of the helicopter parent generation.
But the next question is, what kind of parents did they have, there are the grafters and nepotistic like the Trumps and there are , adult children who were so horribly abused by their parents,
that never got therapy and that trauma goes into adulthood.
Homer Simpson was a "hard working" blue collar man in his 30s supporting 3 kids and a stay at home wife. They had a big house with a yard and 2 cars. This was the perception of reality in the 1980s. The social economic environment today is different for the younger generation, and they will need some level of help just to achieve a fraction of what the previous generation had.
If you don't leave it to your kids, who are you leaving it to? Charities I guess. I've worked but struggled all my life and I came from a family who had next to nothing so there was really nothing to inherit when my parents passed. It's still so tough out there, don't make it any harder than it has to be. If you are well off, at least leave your kids enough to own, or put towards owning a home if you can. A secure roof over your head is so, so important.
My parents helped me every now and again (mostly during COVID) and I thank them for that. Sunny is right, generational wealth is a big factor. I moved out on my own and paved my own way, but it didn’t mean that I had everything together at all times. Luckily, I’m not married and don’t have any kids -
How many people in the U.S. inherit generational wealth, and how much do they inherit?
I Loved what Sunny Hostin said in this segment 💯
I appreciate Sunny Hostin bringing up the huge gaps in black families and white families 💯
A lot of nonsense. I moved to different country by myself at 18 and have made it without anybody’s help. Sunny uses being black as an excuse for everything. I’m black and from a 3rd world country. The problem is not race. The problem is the mindset and culture of the black American left.
It was not the topic of conversation...
There's nothing like a RACIST making up garbage to make up more racist
Thank you. @@AB-jz9ns
@@AB-jz9ns So? Conversations evolve, why does that trigger you?
Don’t spoil the kids at a young age. Spoiled people are sooo annoying
I had to help out on the farm and my dad was a carpenter on the side. So I helped him out as well. When I was 12 he told me that if I wanted a car, or to go to college I was on my own! And I best start saving money now! I’ve worked hard all my life, and at 67 I still can outwork most 20 year olds! I think that is sad!
You help people that want to help themselves. It's that simple. Never rely on someone else to make ends meet for you, because they can be gone
Food and housing should never be denied to a son/daughter at any age. With that said the price of housing is thru the roof, it is not same as when most older people were young. Social housing needs to grow for everyone and prices on homes need to go down.
its easy to say that when you have money
Thing is, kids nowadays wanna roll their own boat and they still don’t even know how. But there are some that are willing to learn and that’s a relief.
Not everybody situation is the same. It's not a one-size-fit-all
Sunny articulated it Perfect!!
You never really know what goes on in a family that creates the dynamics of the home and who lives in it. You can teach your kids strong work ethics all you want but that will NOT prepare them for healthcare both mental and physical that can severely disable a person for example. It is completely unethical to judge anyone based on what you did in your life as everyone's circumstance is different. How do you thank a veteran for their service than look down your nose at them when you find out that they came back from war totally incapable of working or helping themselves at all due to PTSD? It is selfish jealousy that's all it is and does more harm than good!
Such entitlement… just think about all the long hours way from your family, working, only to leave them none of the returns from sacrificing your time and attention… why have kids?
I think people can be incredibly hard workers and not ever be able to accrue wealth or even much savings. I also think there are many many wealthy people (especially those born into generational wealth) who never learn what it is to really work hard. I think gen X is incredibly independent and now that we have adult children it is important to recognize the VAST difference between their economic experience and our own as young adults. Cost of housing, in particular, is absolutely bonkers. I was always taught it should not exceed 1/3 of my income. Now, people routinely pay half or more. These young adults do not have an easy road.
Well, Once a parent, always a parent. Raise your children to be self supporting which means giving them the best education available from home to daycare through college. Help them chose careers that will provide a living wage. Learn to do something with your hands. Teach them how to save money for the things they desire and for the future. Most of all, teach them that they don't have to step over and on other people to get to the top. Hard work will pay off and nothing is free. There is no easy road. Teach them to be kind and considerate of others. Teach them to defind who they are through their integrity and character. Never let anyone defind who you are. Don't forget to love them, hug them. Respect who they are. I tell my children that i will support them when they are and do right but I will not support them when they do wrong - and I mean it. Never put your hands on another person without their permission. No means no. If you want a friend, be a friend. You are to choose your friends and not let others choose you. House rules: 1) Everyone will respect each other. 2) Everyone is equal. 3) Everyone respects our home. 4) No one is breaking the 10 Commandments. 5) Treat others how you want to be treated. LOVE IS THE GREATEST GIFT YOU WILL EVER GIVE OR RECEIVE.
Watch Scott Galloway's TED Talk where he asks the question "Do You Love Your Kids" before you think we don't need to help our kids today. 👍🏽
Helping when in need yes.
I don’t know Gordon and Jeff’s upbringings but those don’t sound like comments from people who grew up without a comfortable wealth family. If you’re first gen financially wealthy you know the difference it makes. And, whoopi put it, it’s down to the parenting, provide the finances for education, business set, maybe housing but you don’t need to buy a merc as a first car or even buy them their first car.
This is definitely not a one size fits all like Sarah said. I think you have to do what is best for YOUR child and stand by it. I know friends (and including myself at times) that had financial hardship due to lost jobs, life changes and even medical situations, and I was lucky to have my family assist me anyway they could. I think without their help, I would have been homeless and going through a mental break down. We have to remember all this money and changes is temporary and really is a minor thing in life compared to everything else that goes on in the world..and the Universe. I say support and teach more.
I wish I hadn’t lent my stepfather $40k. At the time, a decade ago, I was naïve and believed him when he said he would pay me back. I mean he paid for my college. But now I’m about to be homeless and it pisses me off because for that decade, my parents had two houses a country club membership, top-of-the-line SUV luxury cars … and I’m over here struggling. So I hope they leave me something in the will. At least the money I lent them! 🤦🏼♀ 😕
My parents made sure we worked part time when we were 16 so we learned the value of money and very good work ethic.
Dear diary…
Don’t agree with Jeff. He worked hard for that money and his kids should benefit from it. Even if he gives it to them in stages: age 20; $100K, age 25; $250K, age 30; $500K, age 35 and so on. Where would he give his money if he didn’t give it to them? Outsiders don’t deserve your money for free… yes. Sunny has a great point…
Your kids will get more knowing how to fish than if you just give them the fish. As Joy indicated, it doesn’t matter if you give them money. That can all go by the wayside if they don’t have any financial sense or work ethic. Giving them the tools to be able to make their own money will take them a lot farther.
I wish there was more time for this topic. They all had great things to say
Whoopi’s laugh 0:58 😂
Ooo Bingo, Sunny brought up race
I taught, and continue to guide my adult boys. They know life is hard.
I also don't give a 💩 what people thing. When I die, i am not taking anything with me, so all I leave behind, is theirs.
I think if you are trying to help yourself that’s what counts I think there is a big difference supporting your children who chooses not to work and live home versus those who are struggling to find a job, pay off student loans and buy a house I know not everybody’s going to agree with me, but the world is so much more different than it was when our parents were our age (fyi I’m a millennial).
I agree 💯 with you whoppi big love to ya ❤️
I agree with Sunny!
What about children who support their parents?
Black people this conversation isn’t for you. We gotta get out of survival mode. You can help your kids and teach them. Generational wealth should be our priority so that those after us do better!
I swear they do this topic once a week. 😂😂
Yes
Education
Wish they had more to answer
I honestly don’t understand this whole “I’m not leaving my child anything” notion. Why not??? You can’t take it with you, so you’d rather it go back to the government? Or charities that only 10% of the donations actually go to the charity? It doesn’t make any sense lol.
Ashton may have NO MONEY left for his children given the FALSEHOODS OF ENTITLEMENT he embraces with the company he keeps.
Here goes Sunni again talking about race. The segment was not about race. It was about parents leaving kids money in the future.
Every friggin Hot Topic
Joy talks about Trump and Sunny talks about race.
Hey I'm a big fan
Parents should give each kid equal share. But they don't it's life parents pick favorites or themselves or it all goes to charity...
I actually agree with Sunny 100% !
My place is big enough for us all to live together through globalization. In a few days I'm out of the house for the Summer at the cottage with the dog. Whoever likes my cooking know what is served and what time. I much prefer to be their landlord and it allows them to follow their star. Until 2016 there were three generations living here and I'm hoping to see it happen again.
This is why Generational Wealth is so important prior to having kids. Everyone deserves a personal trustfund.
I agree, but I wonder how we do that while countering “affluenza”
Wouldn’t that be nice. But who is going to pay for that trust fund?
Generational wealth is important. Leave a legacy. Put some pride in your family name. As Sunny said, every generation needs to be better.
Seriously Joy do you have to make everything about Trump?
“That’s what the courts are for.”
What does that mean? It’s his money and he can leave it to whoever he wants. You’re not entitled to it just because you’re his offspring.
That's why there needs to be a will. So court can stay out of it.
That only applies if he leaves a will. Otherwise, court involvement
@@Tortilla.Reform Certainly, but Whoopi is laughing it off AFTER the the person has said he isn’t leaving anything to the children. So the implication is that’s what the will says. Yet she still pompously says “that’s what the court’s for” as if the child is entitled to it even if it’s against the owner of the assets’ wishes.
@@bonanimathambo8721 That’s fair
Sunny is right. I live in the rural Deep South. It’s not all about money per se. A huge factor that separates rural southern whites and rural southern Blacks are land and houses. Lots of poor or middle class whites have land and homes and that has been in their families for years. Many rent their land, farm their land, or grow trees and sell the wood for lots of money. I’m in my mid 30s but can remember many Black families STILL being sharecroppers in my community, including my own.
How about don’t bring kids into this world if you can’t afford to financially care for them before 18 and after 18. Sorry not sorry. Save your commentary if you disagree.
I agree! When he said that creating live saved his life sounded Luke he only had children to skew him away of his problems.... To me more than leaving them money, it's more of giving them the tools and teaching them how to use them in order for them not only to survive, but to thrive.... if you can't do that, then maybe keep yourself childless.
So you think you’re supposed to financially take care of your children AFTER they’re 18?!?! That can only be a comment from someone from privilege who has no idea what it is to grow into an adult and be independent. Relying on mommy and daddy’s money instead of providing for yourself. 🤦🏾♂️
@@bonanimathambo8721 that resentment in your commentary is quite unnecessary.... MY point is that if you dont want children to grow and become dependent, but autonomous, you have to be a parent and raise them.... It is fine if you dont want to leave them money, but do not bring children to this world if the most thing you can provide is food and a roof, because that is certainly not enough....
@@camilogomezkeep2324 You raise a child until they’re an adult. You don’t owe them any financial support after that. For the original poster to act like he’s entitled to his parents’ finances once he’s an adult is laughable and would only be the mindset of someone who’s been spoilt his whole life instead of being taught the skills to provide for himself.
There is no guarantee that you will have a child that can be independent after the age of 18. So going into parenthood thinking it's only an 18 year financial commitment is foolhardy. If you want to be a parent then you need to be prepared to do it no matter what. I think perhaps that is the point.
No one asks to be born, so to punish and penalize your children because you had your struggle and grind your whole life by not leaving them anything in life is sad.
I don’t care if my kids grow up to amount to absolutely nothing in life, I’m still leaving it all to them.
Agree with you Sunny; leave your children with greater privilege than what you had. That’s how it’s done. Now don’t have them complain how much of a disadvantage due to their race. Your kids have greater privilege than the vast majority of Americans, White Black Asian Hispanics. We’re all in this together. Have them contribute to building this society, not telling everyone that they’re racist against you or your kids.
And she grew up with a lot more privilege than many. She attended private prep school. That certainly helped her get into college, and college to law school.
What Sonny said
Whoopi you leave everything you have to your kids = Privileged 1%! We have enough of those, don’t you think?
You owe me
Some of us didn’t leave home with what everyone else did
Somehow Sunny brings Racial differences in wealth. This is just about parents leaving wealth for their kids.
Good grief, good subject and Joy had to bring Trump into it and Sunny had to bring race into it. My personal opinion is that children do learn by example. My kids saw two parents who worked hard, they are also hard workers . I have friends who are still handing their kids who are in their 40's everything. I don't agree with that. These offspring need to learn to be able to survive on their own. If you had them everything they don't feel the need to work, why work if everything is handed to you.
Yes Sunny!!!! ❤
Challenge for the view - one segment where you don’t somehow make it about Donald Trump
Or stuck to the question. Leaving ur kids something when u die is what u supposed to do, but if they irresponsible, it would have terms with it
I don’t understand how Sunny can turn every topic into a race thing.
Has Sunny not ever met poor white people, because they’re out there!
So? What’s your point? Do they suffer from racism and discrimination?
In my experience, many black people have no idea that there are dirt poor white people in this country. When I went into the Army and met poor whites, it was an education for me. Years later, when I saw some of the areas where poor whites lived in Indiana and Kentucky, that was another education for me.
At this point in our history, I wish we could realize that economic circumstances are a bigger problem for most poor people than race.
@@paja7647Good point. I think a large part of that is because many black children are taught that they are poor because they are black. As adults they continue to believe it and pass the fallacy along to their children.
@@ChillhardYes, they absolutely do. Affirmative action, diversity quotas, black only organizations. Discrimination goes in both directions.
@@paja7647 Race is a bigger issue than one’s economic status. A poor white person is in better situation than a poor black person because this country looks at race first. Voter suppression laws target black & brown communities irrespective of their economic status. Banks have recently been sued for discriminatory practices towards black and other minority groups. The G.I. bill was designed to favor white G.I.s in obtaining housing and education post military service. The list goes on ad infinitum.
In Canada we have a capital gains tax, that pretty much prevents generational wealth from accrueing over time. As the tax has increased it keeps families from passing their assets to their children, because now the parents home is worth 1 million dollars. If they give that to their kids, the kids have to pay 500,000$ in taxes to the government...Thanks Trudeau.
Tell many a celebrity what to do .😮
Really? These women are so FRICKEN CLUELESS!
Once again, Trump lives rent-free inside Joy's head
She even went to his wedding! She wore white because she thought she was the bride
She’s gonna have a stroke from stressing herself out about him.
Doesn't mean she's wrong.
she's part of 46's campaign team I'm sure
@@justjoddat It means she needs help. It’s unhealthy to be that obsessed with somebody that you can’t go 5 minutes without bringing them up again and again.
Most people don't (teach their children...)? Are you serious? Obviously you are hanging around too much with your own peers!
How many of the people who watch you and trust you have adult children at home? It’s about raising them right without dependency.
Jeff Goldblum is 71 so he may not be around long enough for his children. Although we are living longer and longer so who knows!
I bet he makes it to 100, he's the picture of health.
As much as I can’t stand Trump and his family, and I love me some joy…but ma’am, let’s leave him out of conversations that have nothing to do with him lol because it’s giving obsessed & giving him attention that he doesn’t need. Lol
I am NOT leaving any of my inheritance to my family. I have no children, but I do have substantial assets and investments. I will leave it to other causes/charities
Well yeah, especially ne'er do-weller/estranged family members getting into vulture fights over your estate leavings after you're gone. Especially greedy "what's in it for them" back stabbing grabbers in the family, who want to take it all to cut out other siblings, who may also be supporting a substance/gambling addiction, for example. You have every right to decide who you leave your estate assets to; those who you find worthy, most deserving and where it will do the most good. Always have your legal estate affairs updated and in order. Good for you!
😂😂
Leaving kids assets ,bad idea ! making them independent responsible humans and giving them a good education ,much better formula,we don’t appreciate what is not hard earn !
What about poor white
Poor people plus discrimination tactics law s
Why does joy have to bring Trump up in every single segment?
Joy can't discuss a topic without bashing Trump or his kids!! Living rent-free in Joy's mind at all times 😂
Oh my gosh. This is like a meme.
Joy: **finds a way to tie it to "Trump is evil."**
Sunny: **finds a way to make it all about race**
These rich folks always say they won't leave money but always do. 😂
My kids are white and Sonney just put them down and out because of the color!!!! I had to use my retirement to get my kids through state schools and pay their health insurance, because even if Obama ordered the parents to pay for health insurance,,,,,, my X REFUSED to ,,,, there are so many issues you guys don't even touch!!!
Harry was cut off by his father. Ask Harry. lol 😂 I don’t have kids so I have nothing to add to this. lol 😂
Lol
These comments are crazy! I guess living in the US is a different world. In the UK almost no-one except the very wealthy are able to help their children financially
The perfect answer is that everybody on this Earth is supposed to read the Bible to know how to live. Proverbs 13:22 A good person leaves an inheritance for their children’s children,
but a sinner’s wealth is stored up for the righteous.
Sounds like conditional love.
Live how I say or you won’t get money when I die .
Passing down Jesus. Biblical truth. I like this discussion.
NOPE. That’s why it’s called adulthood.
Whoppi is Wright 100% l learned so much from Whoppi and Joy all the years ❤️ the VIEW Barbara Walters God Rest her 🙏 in Peace
" wright" ? Good grief, the word is " right " !!!!!
This is so dumb. Of course no entitlement but the whole cutting them up is weird. Why are you working if you plan on leaving them nothing?