What is best way to spend hard earned money for your children

[Music Lover]

I ended up with a govt job shortly after high school, so my parents never had to fund university. However, they helped with part of the down payment on my first house which saved me mortgage interest every single year.

 

[Danmar]

I totally paid for my daughter's education to the grad degree level. Bought her her first and second car, taken her on numerous luxury vacations, gifted her enough stock for a house down payment ( subsequently has turned out to not be enough. So will likely have to give her more). Bought her and her new husband memberships in a very nice club. Paid for her fairly large wedding. She has never asked for anything. Very serious, careful, sensitive, hard working, intelligent young woman. I am proud of her.

If I were to rank the expenditures in order of "importance", I would certainly start with education. Second would probably be assistance with a house down payment. Obviously these types of assistance are dependant on your ability to pay them.

Obviously I have been very generous. Probably out of guilt for leaving her mother when she was 8 years old. Has not caused her to act entitled, dependant, or work less hard. Every kid is different as is your relationship with them. I believe I have a wonderful relationship with her and want to help her accordingly. Only heir so she is going to get most of it eventually anyway.

 

[Blue Collar Guy]

i made a deal with my only child about college, i pay 100 % for an A, i pay 50 % for a B, i pay nothing for C's and D's. 4 years later he had a mostly A's and a few B's nothing lower. i didnt want him to waste my money and having a party on my dime.I wound up picking up the tab 100 % for the B's, but i wanted him to feel he had some skin in the game, when he was younger (1 income blue collar worker) i was flat out cheap and i feel terrible about that now, it was expected at 16 he got a job, and he worked at a gym during college, and a bank full time during the summer,

 

[kgtest]

Roth, how is it possible that it paid for all that, you need earned income to fund a Roth...what age did your DW start working?

i fibbed a little, this was partially a stretch-ira partially roth that funded all this greatness.

 

[kgtest]

I hope to pay for some of my kids college, merely because my mom never had the means and my dad refused to waste his money on it (he's now a 65yr old multi-millionaire who refused to contribute to grandkids college).

I saw how much easier my DW has had it without that added burden of college loans. We've been fortunate.

He did help me out with a down payment though...it was a loan though, nothing given.