Today, Explained Sugar daddies and mommies
162 snips
Feb 21, 2025 
Madeline Leung-Coleman, a features writer for New York Magazine, and Talman Joseph Smith, an economics reporter for The New York Times, discuss the staggering impact of the Great Wealth Transfer. They explore how boomers are financially supporting their adult children, particularly in expensive cities like New York. The conversation dives into the emotional complexities of generational financial dependence, the societal perceptions of sugar relationships, and the growing divide in wealth and opportunity among millennials.
AI Snips
Chapters
Transcript
Episode notes
NYC Teacher's Housing Journey
- A teacher in NYC got a studio apartment from her parents at 24.
- This helped her buy a two-bedroom later, but she's unsure of her social class.
Financial Curiosity
- Curiosity about others' finances stems from class resentment and personal struggles.
- It's driven by questions about why some thrive in expensive cities while others don't.
Lifelong Parental Support
- Parental financial help extends throughout life, from housing to childcare and private school.
- Even Gen X and older millennials receive support for daycare and school fees.