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My kids are on my dole till college. After that well they are on their own and I hope to be able to "gift" them help but no way guaranteed. They are 7 and 10. I have about $40k college and $20k taxable accounts for each of them. How that money will be spent I have no idea. But there are too many factors right now. I am hoping we are teaching them and training them right by making them pay for things and become responsible. I don't know what else to do. Being so privileged is difficult in it's own way. Because you don't have a game plan for how to help your kids. This is all navigation on your own. You are poor = nothing. Simple game plan no expectations. Richer = how do you help? What do you give? What is hand out and help up? How to make sure they don't fail?
When you have no safety net and you are independent i can say that you do things way differently than people who knowingly go ahead and spend money that know they can ask their parents for $1k here or there.
When you have no safety net and you are independent i can say that you do things way differently than people who knowingly go ahead and spend money that know they can ask their parents for $1k here or there.
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