Advice parents asking for money - I'm 23 and moved out of my parent's house last year to live in Switzerland.
I have my finance sorted out with 6 months (around 18k) emergency fund, brokerage account (50k), and private pension (I'm European).
My parents are also in good condition; they don't have any debts, and the house is paid off. But last month they were able to sell the house to get something more appropriate for their age. I asked them multiple times if they were sure since it wasn't really the best choice given the high interest + high inflation economy but they looked pretty convinced.
Anyway, today my father called me asking for 10k, promising me to give back 500 monthly (which takes almost 2 years). I got kind of upset because this means ruining my emergency fund and interrupting investing in a discount market.
We kinda had a discussion about it, and I don't really know what to do. I feel like it's not right to ask someone else for money if you are not really in need.
EDIT: Thanks a lot for the huge number of comments, I’m reading each one of these but I can’t answer allPersonal Finance
Advice parents asking for money - I'm 23 and moved out of my parent's house last year to live in Switzerland.
I have my finance sorted out with 6 months (around 18k) emergency fund, brokerage account (50k), and private pension (I'm European). My parents are also in good condition; they don't have any debts, and the house is paid off. But last month they were able to sell the house to get something more appropriate for their age. I asked them multiple times if they were sure since it wasn't really the best choice given the high interest + high inflation economy but they looked pretty convinced.
Anyway, today my father called me asking for 10k, promising me to give back 500 monthly (which takes almost 2 years). I got kind of upset because this means ruining my emergency fund and interrupting investing in a discount market.
We kinda had a discussion about it, and I don't really know what to do. I feel like it's not right to ask someone else for money if you are not really in need.
EDIT: Thanks a lot for the huge number of comments, I’m reading each one of these but I can’t answer all
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
🔺 Student Loan Delinquencies Hit Record 12.9%... The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...