Family wealth dictates our life choices. So is the Bank of Mum and Dad now behind so many of society’s growing inequalities?

Summary

The “Bank of Mum and Dad” drives modern inequality, fostering an “inheritocracy” where family wealth shapes opportunities over individual merit. This safety net often undermines social mobility, tying success to inheritance rather than personal effort.

Rising housing costs, wage stagnation, and unequal inheritance have entrenched this dynamic, with parental support shaping life milestones like homeownership, career paths, and education.

While early inheritances advantage some, the burden of social care costs threatens others’ expectations.

This growing reliance on family wealth exacerbates inequality within and across generations, highlighting the need for a broader societal conversation about privilege and fairness.

  • Tiefling IRL
    7•1 month ago

    Kinda similar here. My partner and I have a bit of savings, but due to a chain of deaths in her family and retirement, her mom has fuck you money. She’s supportive of us and is willing to tap into that money to help us get to a safe location.

    But there’s a real sense of survivors guilt there because virtually everyone else we know is struggling to just pay rent. I see friends asking mutual aid groups for $20 almost daily. I try to help my friends however I can but no one has a job that pays a liveable wage, everyone is living off of scraps.

    • @[email protected]
      4•1 month ago

      Exactly! It’s hard to help when a lot of the help would be technically coming from someone else’s pocket and it doesn’t feel right to be spreading around. I help my friends with any mechanical stuff and only ask that they stay, help, and learn something new(also hoping that some new confidence will help them take care of themselves better). Sharing skills and time is the best way I’ve found so far.