Largest cash gift

[Texas Proud]

It was spread out, but gave $12K to a niece for her graduate studies... she became a lawyer...


Looking back, was not a great investment.... she has continued to do part time work etc. and has not lived up to her potential at all... and she has become very socialistic...

Other nephews and nieces lost out after that....

So far, of the 6 nephew and nieces, only 2 I would call successful..... one is becoming a doctor and the other an engineer... the one I helped could be as she is a lawyer, but does not apply herself at all and takes on temp jobs off and on...

[kgtest]

Apparently $100 is our wedding limit. I tried to give Sis-in-law and new bro $250 and my wife freaked out. Then again it takes her 3x as long as me to earn that $250 so that could be one reason why.

birthday's its only $15/niece nephew, $50 limit for bday, Christmas, mother/father day. Graduation is $50.

I have $1000 budgeted for gifts but some years I spend a little more. The largest gift I've received was $20,000 when I got married. I received another $10,000 when we bought our first home together. I fully intend to help my son buy his first home if he needs the help. I'm sure DH will want to cover his college tuition since her grandparents/parents did that for her and her siblings. Not sure if that will be a gift or what yet but I am thinking the rental income will help with that...I may just sell a rental home if/when the time comes to fund college. I'm sort of against funding college though. I feel like its one of those things that if you want great opportunities you will find them with or without college. Now being a Dr./Lawyer might be the exception.

[splitwdw]

My best friend's wedding. 500.

[Corporateburnout]

$250 graduation for nieces and nephews

$600 Wedding gift for a niece.$ 300 for a friend son's wedding

[Jack_Pine]

Quote:

Originally Posted by Bestwifeever We gave $500 as a wedding gift to DS's best friend since kindergarten--we were invited to the wedding. That was the most. I use this scale for unrelated kids' life events, no COLA in almost 20 years. A little more if it's someone special. We are aging out of being advised of or invited to most of these occasions--a couple more weddings and maybe one more college graduation in the next couple of years: $25 junior high grad $50 hs grad $100 college grad $250 wedding

Pretty much this less the Jr High. No 5th grade or eight grade grad gifts with.

We do $25 for confirmation on the Catholic side.

As some else noted, we to are cheap or at least frugal in this area.

[NW-Bound]

For nieces and nephews:

$50 for HS graduation
$100 for college graduation
$500 for wedding

For my own children, heck, we spoil them rotten with 5-figure gifts.

Perhaps I should think more of myself, instead of making my kids instant millionaire when I croak and spoil them even more. But with the market going the way it is, that potential problem may just go away.

[Gumby]

Wedding gift for the daughter of my college roommate -- $1000

[Act2]

All of these relate to 3 nieces/nephews and their spouses (when you marry into the family, you are now family):
Birthday & Christmas $ 250 per person. May discontinue Christmas at some point.

High school and college graduation: $ 1000 each graduation (plus a financial book at high school graduation)

$ 2500 to the couple on their first wedding; hope I don't need to figure out second weddings anytime soon

People living with a family member awhile but not related or married to my family member: $ 25-50 gift card

Also was able to send $ 2750 to help ex-husband during a family crisis, & was glad I was able to do so.


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[NW-Bound]

Quote:

Originally Posted by NW-Bound For nieces and nephews: $50 for HS graduation $100 for college graduation $500 for wedding For my own children, heck, we spoil them rotten with 5-figure gifts.

I just remember that our nieces and nephews are in their 30s and even the early 40s now, and the amounts were way back then.

[younginvestor2013]

I am spoiled of course (stating the obvious), but my largest gifts were:

$200k UTMA from parents, received control around 21 Y/O
$4k gift from parents in early 2015
$500 from uncle for Christmas in 2014

[NW-Bound]

The OP excluded gifts to immediate family members. Naturally, that's where people tend to be most generous. I have given my children 5-figure gifts on special occasions, on top of a debt-free college education.

I am not sure I can give my children more at this point. It's not just the risk of spoiling them, but also whether I can be sure that I am not going to ask them back in my old age if I run into hardship. Once money leaves your hand, it's gone for good. Besides they are having a good job and enjoying life plenty.

My sister and her husband have been giving money to their children to fund their Roth, I think about $5K each year. It may be a good thing to give money away gradually to your heirs, rather than a lump sum at your death. But that would be subject of another thread.

PS. We have also given money anonymously to charity organizations that we vetted. One year, it was equivalent to 0.5% WR.

[Corporateburnout]

Quote:

Originally Posted by NW-Bound My sister and her husband have been giving money to their children to fund their Roth, I think about $5K each year. It may be a good thing to give money away gradually to your heirs, rather than a lump sum at your death. But that would be subject of another thread.

I fund both of my kids' Roth every year and I plan to do it as long as my portfolio allows me to. In the event that DW and I require an extended stay in a long term care facility and we die broke they would have gotten some inheritance.

But you're correct that requires another thread.

[sengsational]

I think for my nephew's wedding I gave them $350 cash plus served about 100 pints of home brew beer at the destination wedding venue. Awe, the beer doesn't count because not only wasn't it cash, it saved the brides parents money, not the bride and groom.

[bingybear]

paid more one of my kids in laws major dental work.... twice. well over 1k ... twice

[NW-Bound]

Quote:

Originally Posted by Corporateburnout I fund both of my kids' Roth every year and I plan to do it as long as my portfolio allows me to...

I thought about it, and the one thing that bothered me was that it might make my children think that they could go spend all that they made because the savings were already taken care of.

But again, we are drifting from the thread...

[Sojourner]

Really interesting to see that 40% of those voting have given $1000 or more. I suppose that's not so surprising considering the financial status of most of us here, but on the other hand it is slightly surprising given that it's "not immediate family".

Knowing that most people give generously to their children (and grandchildren) over time, I wanted to filter that out to get a clearer picture of gift-giving generosity when it comes to those other special people in our lives. And it's kind of nice to see that we appear to be a pretty generous bunch.

[NW-Bound]

I gave donations much larger than $1000, and it is to charities, hence the ultimate recipients are strangers, not my immediate family.

But these large donations are not to individuals (though I also gave smaller amounts to specific individuals on some occasions). I do not know how you or other posters consider these for the poll purpose.

[Dash man]

We took ten extended family members on an all expense paid cruise vacation a few years back. It wasn't a cash gift to them, but an experience that cost us about $3K per person. We figured it was about the last time we'd be able to get everyone together for a family vacation, so it was worth it.


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[45th Birthday]

We usually only give small gifts ($100 for college graduation, weddings) to relatives and close friends. Mostly because that is the norm for these people and they would probably feel uncomfortable if we gave more, because they couldn't reciprocate. For charities we are involved with/feel especially close to, the numbers range to $10K-15K for a one-time gift, or $3K-$5K for annual gifts. Sporadic $1K-2K gifts to others. Odd thinking about it how we give more to "strangers" but the larger gift recipients have almost always been the result of positive experiences with these charities. Some through a small foundation we set up years ago, and others through appreciated stock.

[Ed_The_Gypsy]

$100 each to nieces and nephews at Christmas.

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