Quote:
Originally Posted by Mr.HappySilp
I would not think so.... however, I know my sister and I help pay the mortage to our current house, pay the bills, pay rent, pay property tax, House insurance, uilities....... so I guess for my parents is an investment? Not too sure since we do live together but I figure if I move out I will most likely pay less if I were to rent a place.
I would hope one day if I do have kids I don't have to rely on them when I retire and I also hope they can live on their own as well.
However, I do see my parents relying me and my sister when my dad have fully retire and their RRSP haven't kick in yet (Mom is currently 62 and retired and dad is 63 working part time). So I guess it all depends. But just to be fair my parents already have a will to split everything half/half with my sister and I lol. I think this day and age especially in Vancouver, England and Italy kids are leaveing at home longer. Our parents most likely move out early 20's and have kids at 25 or late 20's while us we aren't having kids till early 30's or staying at home for a much much longer time. Part of it is the increase in living cost, less jobs, and also our parents need us to take care of them.
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It's great you and your sister are chipping in. It's good you feel obligated to help out, but at the exact same time maybe they are feeling obligated to help you and your sister out because of the current conditions. But consider this do your parents really NEED you to take care of them? If you and your sister moved out, it would allow your parents to downsize and cash out on the current house to tide them over until they can access their RRSP's and then some.
I think the whole kids are staying at home longer may be true but only to a minor extent, the media is blowing this out of proportion IMO just like how many believe that the Chinese mainlanders are the ones controlling the local real estate pricing.