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Adult Children
Reply to "At what age were your dcs 100% financially independent?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Was it right after college? How much did you help in college beyond housing and tuition?[/quote] For college, we paid room and board, books and school expenses, travel home and back, and tuition. We also gave them a used car sophomore or junior year. [/quote] For college - we are donut hole families. Kids went to[b] in-state public schools for STEM education. They earned free tuition and one and a half years worth college credits[/b]. Both graduated with double majors. However, both stayed in dorms and apartments after the first year. So, we bought them new cars, room and board, all school expenses, all clothes, travel, socialization, supplies. They were on our medical plan until they were 25. For grad - paid for everything once again. They also have access to a credit card in their name that we fund, access to our amazon, wf, costco, dept stores, uber, starbucks etc. We did this for several reasons - a) kids are very frugal and since we are already established, it does not cost us much to include them. b) kids put most of their money in savings, IRA, investments. c) there is communication and transparency on both sides and kids are strategic and good moral kids with no bad habits d) kids know that roof over their head and basic living (food, car, clothes) will always be available to them e) we want to give them the leg up that we did not get. and so we not only did not want them to have any debts, but we also wanted most of their retirement savings to start now. We will pay to the best of our abilities for college and wedding. We don't consider our children launched until they are married, and even then the soft transfer of wealth starts happening much earlier. [/quote] How? It seems unusual that a public university would give full ride (merit, I assume, given that you are a donut hole family)[/quote] DP: There are public universities that give full merit awards or close to it to top students. Just not T50 Universeities [/quote]
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