Bank of Mum and Dad: why we all now live in an ‘inheritocracy’

https://www.theguardian.com/lifeandstyle/2024/nov/17/bank-of-mum-and-dad-why-we-all-now-live-in-an-inheritocracy

by physical_dude

2 comments
  1. I think this is true for an average functioning adult child. It enables the person with average motivation to obtain that college degree, that job they got through their parents connection, or that down payment at the right time and in the right neighborhood, or all of the above. The super motivated immigrant will still make good, the very intelligent child from the inner city will get picked for a magnet school and get that MD on scholarships.

    But mom and dad who can continue to provide for all their kids will see a better outcome than the families who kick their kids out at 18 or 21 to fend for themself.

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