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Reply to "Giving kids a down payment "
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[quote=Anonymous][quote=Anonymous]Only if and when it fits into bigger financial plan for them and I guess for me too. Right now it doesn't, because renting is cheaper. If he wants to kill money in real estate, he can do that with his own money, not mine. This need to buy a home will not come from my boys any time soon. It may come from family members, partners, and other well-meaning people who don't know our whole financial picture and goals. Nothing that math and little common sense can't fix. Younger kid is getting an inheritance at 18. We are letting it grow for decades. Home equity is not the place for it, but as it's not my money, who knows what he will do. At 18, both are already set to do well on their own. They'd be a little confused why the $100k suddenly which should be in the market as part of family money.[/quote] Put another way...why does a kid buying a house get $250k from you, while the kid that wants to sensibly invest the $$$s in the stock market and rents gets $0 (I guess)? I don't understand this idea that you will pay for discrete things and then possibly favor one child over the next vs. just set up trusts or something and give your kids $$$s.[/quote]
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