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Location: Formerly Pleasanton Ca, now in Marietta Ga
10,348 posts, read 8,564,711 times
Reputation: 16689
Quote:
Originally Posted by eddiehaskell
You gotta keep up.
I have this problem with some people in real life too. It’s like my brain works faster than people can read/listen.
Pinwheel.
The more op posts the more I get an idea of his personality.
Condescending yet has no reason to be. Stay at home dad while his wife supports him, nothing new to see.
I've been thinking about that questions and started thinking how parents help their children besides paying for a degree/school. In some respects giving the child that money with clear guide lines until age 21 isn't a bad idea.
First it puts the onus on the recipient to learn how to manage money and also helps them mature/grow up. Instead of playing with mommy and daddy's money which is what many do in college they have to think every time they spend it. And suffer any consequences like taxes, interest, fines, penalties etc.
Also what I see too many parents do for their adult over 18 children other than give them money winds up enabling poor behavior and put themselves at risk. This includes co signing student and car loans or getting things for them in their name which leaves them open to all sorts of liability Letting the child on their car insurance policy is one of the most common mistakes I see wether it's an addiction issue or tough times issue. If somebody else is taking responsibility and paying for it the recipient/user doesn't have to take risk or make tough decisions-they get all the reward but suffer no penalties for their decisions. And if a parent wants or has to cut off these favors like drop them from an insurance policy not only is it administrative work it can cause consternation to say the least.
On one hand a 200K budget to start life could be considering enabling or the other it could wind up being the best teacher in the world.
Pinwheel.
The more op posts the more I get an idea of his personality.
Condescending yet has no reason to be. Stay at home dad while his wife supports him, nothing new to see.
Think about it though...if you had to “support” a spouse....
Wouldn’t you WANT it to be one with a paid for home to live in, no car payment, no debt, a source of income and plenty of time for the kids?
I’m basically the easiest spouse to support in the United States.
Location: Was Midvalley Oregon; Now Eastside Seattle area
13,072 posts, read 7,505,741 times
Reputation: 9798
Since, I don't closely follow this thread; This thread is very confusing to me as the current conversation has no relation to title.
For this reason, I'm out.
"Unsubscribed"
I've worked in investment management/wealth management for a long time. I've seen parents give kids trust funds many, many times. 9/10 you end up with an entitled kid who doesn't know how to work and fights every step of the way to withdraw more money than they should. Giving someone money (even in a fund that can't be touched until they are 25) doesn't do anything to teach finance. College can be affordable. Send them to a community college for a few years, then transfer into a traditional university and require them to work while doing that. They can graduate with little debt, and take actual courses on finance/accounting/economics that will teach them how to properly manage that money.
From what I've seen in the wealth management industry, kids who are just handed money without having to work for it rarely treat that money properly.
My relatives have *a lot* of money in San Francisco (house is something like 7mil). They've repeatedly mentioned that their circle of friends with money for the most part has kids that are absolute do-nothings and druggies.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,348 posts, read 8,564,711 times
Reputation: 16689
Quote:
Originally Posted by eddiehaskell
Think about it though...if you had to “support” a spouse....
Wouldn’t you WANT it to be one with a paid for home to live in, no car payment, no debt, a source of income and plenty of time for the kids?
I’m basically the easiest spouse to support in the United States.
Think about it, how many divorces are there? How many are due to people changing and not about the money?
I knew someone that lived in a 3 million dollar home, bought exotic cars like Lamborghinis, Bentley’s every 4 to 6 months. No shortage of money or financial problems. He mostly stayed at home, she worked, she left him. Yes they had kids.
He never saw it coming.
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