Sugar daddies and mommies

Today, Explained

Vox

Daily News, Politics, News

4.4 • 9.5K Ratings

🗓️ 21 February 2025

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Boomers are the wealthiest generation ever. And they're funneling trillions to their adult children for down payments, school tuition, even monthly allowances. The Great Wealth Transfer is upon us. This episode was produced by Victoria Chamberlin and Devan Schwartz, edited by Jolie Myers, fact-checked by Laura Bullard, engineered by Patrick Boyd, and hosted by Noel King. Transcript at vox.com/today-explained-podcast Support Today, Explained by becoming a Vox Member today: http://www.vox.com/members Image of candy hearts by Erica Thostesen/Shutterstock. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	We talk about it in whispers.
0:03.1	Hey, my name.
0:06.3	I'm not going to say it.
0:07.4	I would like to remain anonymous if any of this is being used.
0:11.7	Hi, I would like to say anonymous.
0:13.7	And my parents did recently buy me a house.
0:19.4	We inquire about it gently.
0:22.3	How can you afford this neighborhood or that school?
0:25.4	My dad used to pay off my credit card every month up until pretty recently.
0:30.7	My parents did pay for my rent.
0:33.0	They paid for some of my credit card bills, kind of my like emergency money, groceries as well.
0:37.9	I am in my mid-20s. I've received about $1.3 million over the course of 14 years, including
0:43.4	about...
0:43.7	We are living through the Great Wealth Transfer. Her friends call her getting money from your parents.
0:49.9	Trillions of dollars are flowing from baby boomers to their adult kids and upending American norms and housing prices.
0:57.0	Ahead on today explained.
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1:21.3	It's 2025, so stop struggling to get your job post seen on other job sites.
	...

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