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[quote=Anonymous][quote=Anonymous]I fear this happening with my parents. They have promised a large sum of money (specific amount) for my kid's college. Kid is 6 and we have already started saving for college. If I felt we could count on that amount, we could reduce our current savings to like 8k a year and kid could go anywhere full pay.

However, I worry the promise from my parents is empty and what if it doesn't come through? So it feels like we should keep saving at our current rate (much more than 8k a year).

But of course, if we do that, my parents might say, oh you've got this, and give nothing. But this is the amount they've promised to all grandkids, including my siblings who had 3 and 4 kids, respectively. So it seems deeply unfair that we would sacrifice to pay for our DC's college on our own while my parents pay literally hundreds of thousands for my siblings' kids, while my siblings claim poverty and that it is too hard for them to save up for their kids' college.

I mean, whatever, life is unfair. I always assumed I'd be paying for my kid's college on my own. But it's like by dangling this, my parents have created a conundrum for us in terms of how we approach savings and increased the likelihood that we will either under or over save, plus highlighted for me the unequal treatment I get compared to my siblings because of our different approaches to family and financial planning. This "offer" has really only created problems.[/quote]
Are you for real? Seriously???
How is this a problem? Save for your kids’ college, when the time comes if your parents contribute 5 dollars or $50,000 that’s all the better.
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