Honest question about financial situations

[Kath2003]

Appartment: 220 000 eur.
I received 50 000 eur from my parents as a "gift"
They also gave me 20 000 eur as an intrest-free loan.
I used all my savings
And I got 100 000 from the bank. Whis is NOT intrest free!!! By the end of the 25 years, I will have paid back 171 300 eur. That's 71 300 eur in intrest!!!!!

You're very, very lucky. Most people don't receive almost $80,000 as a 'gift' and then get a $30,000 interest free loan. I'm 23 and I'm not foreseeing being able to buy a property any time soon. With a partner, yes, but alone, not for a while.

 

[Ichabadi]

It's not hurting us immediately, but we have serious financial concerns. With the stock market tanking, DH and I wonder if we may as well be socking our money away in a mattress vs. our retirement accounts.

That's how we are. We both have secure jobs and while the rising prices pinch a bit it hasn't risen to the level of pain. We are cutting back simply out of fear for what the future holds. Everything we hear every day is so negative.

I put 15% of my salary into my 401k and my balance now is lower than it was 6 months ago. That's a substantial paper loss! It makes me fearful. Our son's college fund is in the red as well.

 

[MrsPete]

That's 71 300 eur in intrest!!!!! . . . The appartment I have, is not a place where I'll be able to house a family! So while I pay my mortgage etc, I will also have to save for a future house!

I think this situation is universal. Renting is roughly the same per-month as owning (of course, that's painting with a broad brush; plus owners are responsible for more maintenance and upkeep); however, most people don't have the advantage of having 25% the cost of a house gifted to them, so it's tougher to get out of the renting cycle!

Also, once you own, you DON'T have to save for a future house -- you'll sell your current apartment, and that equity will be your downpayment for your future house.

I'm sure you worked hard to save up the portion of the downpayment that was yours, and certainly paying back the loans is no picnic. Still, you've been considerably more fortunate than the average person! Not everyone's parents are able /willing to help them in this way!