Reply to How much financial help are you really giving your adult children?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I know people (30 plus) whose parents are paying for their down payment, co signing mortgages, paying for their grandkids braces, daycare, vacations, ivf, co signing on cars etc. a lot of these people would never admit to how much parental help they are getting despite having “good” jobs. [/quote]

From my parents we got $10000 towards the house down payment and they put around $500 per year per child in my children's 529s. My ILs gave us $1000 at the wedding and not a dollar since that.
Just yesterday my parents said that after meeting with a financial advisor they want to give us more money to avoid taxes. They informed me that the first gift will be for a certain home improvement they want me to have, and they have certain stipulations for the work that will be done! I said PLEASE just put the money in the kids' education funds but they don't want to do this for some reason. [/quote]

You are heading down a slippery slope. I would decline and maybe push back nicely that you’re happy to invest any gifts for the next generation but are uncomfortable having them pay for your adult needs that you can save for. [/quote]

Agree. Never take money with strings. [/quote]

It sounds more like a gift earmarked for a specific purpose than "money with strings."  I have no problem receiving either.  My parents bought me my first car, but if they had given me $20,000 instead to go out and buy my first car, I would have been equally grateful.  My parents also bribed me to get good grades (so money with strings) because I was a lazy, inattentive teen. It worked.  And by college, I cared and got good grades without a financial incentive, partly because I had the study skills I had built when I was younger.

I'm sure there are examples where taking money with strings is a bad idea, but I think those need to be evaluated on a case by case basis. [/quote]

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