Well I mean... obviously? They're basically the CEO of a very large company. Those positions don't exactly change hands often.

Fuck all the cronies hanging on especially... my dad is like 75 and he's still working every day programming... all the boomers are double-dipping their pension and stuff... my dad is complaining about how he is being forced to take RIFF's and paying taxes out the nose. Boohoo hahaha

I was on a zoom call with coworkers in toronto this week.

On the call was one of our C-suite guys. He's in his 70s. Making at least $300k (probably more, this is just my guess). Works probably 20 hours a week. Has no plans to retire.

On the call, he was sitting in his backyard, talking about how him and his wife are planning on downsizing.

He's goes on and on about how much space he has they don't use anymore. Kids have moved out. Lots of empty bedrooms. His huge backyard. A pool. The gazebo. Every weekend they're at the cottage anyways. Or he's on the golf course. And in winter they're down in Florida.

Meanwhile, I'm at our condo in Vancouver, in my bedroom because we have no extra room for an office, standing because there's no desk, trying to not be distracted by the crying baby right behind the door who just woke up because it's 7am PST and people in Toronto don't realize what time it is in BC when they schedule calls.

OH and he's tool old to realize that when he's on zoom calls we can only see his eyes and forehead, with the rest of his face cutoff by camera.

Do they have much of a life outside of work?

Like both my parents retired as soon as they could , they didn't want to work a day more than they had to. I think my mom was asked if she could come in and work as a contractor for a few hours a week and she was like "hell no"

Of course now they just put 20+ hours a week as volunteers into another organization... So I guess they still kind of work :P

Curious if anyone else here is sacking away cash for coastFIRE or regular fire.

I have zero desire to leave much for the next generation, aside from leaving the future kids with a decent starting ground. I feel like all the previous generations worked so hard to save and invest all this cash but they have no hobbies or idea how to spend it all.

Your parents are super rare for their age group... my dad has NO IDEA what to do with his time. Literally none. He has no goals, no aspirations, no dreams... him and my mom never discuss what they want anything to look like or where they might want to go and basically live separate lives. I have no idea why they're together. He bought a Highlander brand new in 2003 and he's still driving it with 300,000+kms on it while telling me every time I see him "I guess you're going to be pretty rich when I croak" and meanwhile I'm sending him articles on the new Land Cruiser and saying hey why not get a new car or he likes computers so I send him links to the computer museum in Berlin, Germany and tell him he should go on a trip. Doesn't even look at the links.

Then again he's an engineer, maybe it comes with the territory lolol... I keep it at the forefront of my mind never to emulate what they're doing and always be active about thinking what's next what's next what's next and not being afraid of change or to spend a little.

What's considered a decent starting ground for kids these days?

Do you have kids yet? and are your parents going to leave anything to you?

I have this constant reminder in my head that I need to make sure I leave something for the next generation. I'm assuming that's a cultural thing for me, but no one has ever told me to think like that.

Maybe he’s one of those who don’t like travelling alone. You should take your pops and drive Route 66 across to the east coast. Geezers (and me, geezer at heart) love this kinda shit. Do something historic and meaningful with your dad before he becomes like my dad (a totally useless piece of shit)

Man in those scenarios where I know I'd be getting an inheritance. I'd probably just buy them the land cruiser / plane, hotels, tickets to the museum. The old generation doesn't know how to spend, so you gotta do it for them.

I'm 27, no kids in plan for another 5 years until I figure out how to afford a $700 - 1,000K 2 - 3 BR in the city. One parent was gone 20 years ago, mom that is still around and healthy is around early 70's, so after mom's gone I'd probably inherent half a house. I've been advised to ask for an early inheritance that way we can all enjoy it together while she's alive but she has no cash / retirement just a house. If I could convince her to sell the house and split that into 2 bigger DP's for me and my brother into detached homes, that'd be clutch and she'd have a suite at both houses.


Biggest head start that I see for late millennials and Gen Z is being able to live at home rent as long as they want until late 20's. Big bonus if you have private suites / own condo bought for ya. So from 18 - 30 they can save $1,600/month instead of renting with roommates. I have tons of friends now that had to move from outer cities / Calgary / TO to be closer to DT for work and night life or even UBC/SFU for school. Living at home was never an option for these folks since they're out of town but some had the privilege of having their condos bought for them.

Free Rent $1,600 x 12 months x 10 years = $192K saved before investment gains.
Free Groceries - $300 x 12 months x 10 years = $36K
Free Car lease / depreciation + Insurance - $500 x 12 x 10 years = $60K
Free school = $40K 4 -year, $100K-300K+ for masters and international

With all the privileges above, one would have at least $150-328K saved by 28 but costs not incurred. But I think the reality with Gen Z is that because they have all the essentials they're awful at saving plus they couldn't care enough to work. They already drive Model 3's, eat out every week, have their own condos, free school. They have no drive to work because their headstart is so good.

That's a pretty closed off lens you are seeing that through. Might be the case with your group of Vancouver friends, but plenty of kids are out at 18-20, their parents cant afford their post secondary, their rent will be more than they'd make at a job to even live solo in a tiny bachelor, or most of their wage to split a 2 bedroom.
Gen Z is quantifiably more financially fucked than any generation since capitalisms formation. You know some privileged folk, but it's not the norm. The biggest motivation to not work hard is the basics are unattainable for so many even with moderate success.
You obviously have a pretty mature and disciplined way of looking at things which deserves a lot of respect, but that head start isn't the norm or even close to it.

How is your relationship with your mom?

I would suggest speaking to your mom as soon as possible. At least have some sort of discussion going.

Mines on the other hand was as stubborn as a mule. Before my first child was born, I had a discussion with my mom to build a laneway house, but the conversation collapsed and she started to act like Gollum from the lord of the rings.

By the time I convinced her to build one, it was already too damn late, interest rates and building costs to the moon. But no choice, family of 4 with two small dogs in a space of less than 700sq is not ideal:heckno:

The time line to build a laneway house sucks too, started the process in November 2021, and now a tentative completion date at the end of September this year.

^^ not quite getting fully what Gerbs is putting down ... if you've graduated, working, and living at home ... no way you should be doing that for free! You gotta contribute to mom/pop's expense ... even if it is just $1000/mth.

In Gerb's case, have you or your sibling considered moving in with your mom?

Even 10 - 15 years ago when housing was way cheaper than they are now, some of my (married) friends have made arrangements to move back together with their parents / in-laws in order to be able to live in a house. A typical case would involve the parents taking up one floor, while the married couple takes up a different floor, and they generally don't interfere with each other's daily life too much. Financial arrangements vary -- with some splitting the normal operating costs of the house, while others just completely take over paying for the operating costs of the house. And then when the kids come, the parents/inlaws are basically available to help.

It certainly doesn't work for everyone, and it's easier if the parents / inlaws are the type that knows their boundaries. But this type of arrangement has worked for a lot of my friends. In your case -- and I absolutely mean no disrespect to your mom -- because you said she doesn't really have much cash -- if you and your partner can take over the normal operating expenses of the house, that'd free up your mom's money flow so that she can go use her money to do whatever she wants to do.

Of course, given that you have a sibling, the money splitting bit is going to be complicated. But if push comes to shove, I guess whoever gets to keep the property can always put a mortgage on it, and give the other sibling 1/2 of the house's worth.

Agreed -- after finishing university, I was leeching off my parents for a long while. I didn't give them any money, per say, but I certainly took over paying for a lot of the various bills.

The privilege of saving and living at home, even for people in their 20s, has been commonplace in immigrant households for decades. 20 years ago, even in these forums, it was looked down upon. University kids who lived at home were seen as losers. Most likely many still think they are (as attitudes are more difficult to change), but they also aren't going on TikTok crying about the cost of living.

Now the rest of Canada is finally waking up to the reality of multigenerational living.

I find that a lot of Vancouver natives / international students are super closed off in that aspect. Since they had free rent / tuition paid for, which is awesome that their parents can provide that. It creates an expectation amongst them that they as a parent MUST provide this also. Out of everyone I know, there's < 10 - 20% that actually has student loans / paid out of their own pocket, including myself.

That's why I always try to explain to peeps that not everyone has the privilege of living at home when they ask why you move out. Not everyone has a house in city centre or in the lower mainland. Or maybe their living at home situation isn't the most optimal.

That's what I think too, should contribute lol. But not many people do. Probably cause cost of living is so high.

Imo, it's the only way to make it into that top 10% unless you've graduated in a top field and need to navigate to US/TO for your job. Most people take it for granted and prioritize drugs & partying, experiences, nice cars, and eating out. It's a hard balance to juggle! It's find it funny when my friends from TO/Calgary are confused as to how they make 2-3x more than one friend but the Van natives can afford to lease/buy a model 3 or a C300. They don't understand the privilege of having 0 expenses on a $50K salary = $40K in disposable fun income. The friends making 2-3x more spend way more on housing, cars, groceries, living expenses which leaves them with maybe $15 - 30K a year before investments, saving for dp, and travel.

Brother just bought / moved out for the first time at 34, took over 16 years of nest egg saving to make it into a 2br. He and I both understand that my mom will need to move in with one of us at some point. But his planning seems to not be within the next 4-6 years because I'm sure he wants some time alone. I don't mind living with my mom again if there's the floor separation like you mentioned. In the current scenario, we both contribute to the operating expense of my mom but maybe at a 80/20 ratio between my brother and I.

I think in order to divide the house without selling. I'd have to cover half the mortgage ($5-6K/month) of the equivalent house my brother buys or buy him out for close to $1.25M or $6k/month :lawl:

I would say it's hard to live with her because of clashing generational thoughts. For example, I'll go home and her random comments would be like "How much do you make, how much does X friend make? How much does $9k/month take home? How come you can only take home $7k/month after taxes? How come $7k/month can not afford a 2 BR apartment or house but X friend can get a house of bigger condo making less? Maybe you should spend less and stop going out!" In her mind, her expectation is that school > guaranteed financial freedom.

Other than dealing with comments like that, overall she's really good, I'm probably the issue.

hahaha fucking asian moms ask the best dumb ass questions

Since moving to Toronto, I tell my parents I'm on the verge of poverty and going to the foodbank to survive.

I'm sure there's a Steven He meme for this

I wonder how the boomers going to handle it as they age and things don't go their way anymore.

I guess the simpsons is right again
https://i.kym-cdn.com/entries/icons/...19/304/old.jpg

Y u no doctor, at least you're not living with 20 of your cousins and uncles in one house:ifyouknow::lawl:

Don't you just tune that sort of thing out, esp when it is your mom? Eons ago when I was still living at home (after finishing university), that's exactly what I did LOL~ For a while, I was trying to figure out what I wanted to do with my life, and Mom just wanted me to get a regular job, find a steady gf, and put money down on an apartment. But of course I had other ideas LOL~

If it was the MIL instead of your own mom, however, I can see how that would be pretty difficult to live with.

I can already hear my moms comments "Why do you pay $1,800 - 3,300+ for rent? Come home and stay here instead. 5 years later, why you no married and socially awkward?"

Man. I'm not a parent but wife and I just want to strangle our niece and nephew 12 /16).

It's hard to teach the concept of money if parents don't enforce.
1) parents buy phones for kids and start giving them data.
2) i told them to give allowance which equals to cell phone plan + something extra.
They are scared of not giving enough money for them to survive.
No kid should ever need 45GB data on a cell phone.
3) No one has concept of money, it's just spend it all. Everything is just tap.

Oh, many posts above regarding Living at home = saving.. that's total BS.
I know some people who lived at home until they were 35-40, did ANYONE of them saved up 120K rent free NO....

The extra spending money from jumping to job were went on uber eats, nicer hand bags and fancy cars... No one ever saves bling living at home, the money just became more depositable income.

Most kids are trash nowadays. I blame the weak ass parenting that led to this culture of entitled, spoiled, and utterly useless human beings.

I would never hire anyone who's born in the 2000's. you people can just go fuck right off.

^stfu boomer :troll:

"Never have we seen a generation document so much, and yet achieve so little"