All this talk about parents helping kids got me thinking about what the impact of help really means.
My folks did not pay for my college, but dad did buy a town home he let me rent (rent was the price of his monthly note) and returned my rent to me in the form of equity when I was ready to buy my first home.
This was quite possibly my first BIG break. I've had a few others...like allowing me to live with them rent free for a few years while I "figured out my life".
Also got a decent gift from in-laws when they had extra $ from the sale of property, and also had a break when my wedding venue and catering was covered by in-laws.
FIL helped me more than dad in terms of monetary support, but my dad has really helped me in terms of the DIY attitude. Every time I said "I can't" or "I don't know how" he told me, yes you can, or, you can learn how.
I think building my DIY confidence has helped immensely. I don't pay others for help, unless absolutely necessary.
That equity he returned to me was just in time for the $8k first time home buyer credit that was offered about a decade ago. I bought my first home, received that $8k on my tax return, and there was no looking back after that. Own two homes, have more money invested than *most my peers and I attribute it to the BIG break I received. Looking for a third and final investment property (in Florida in 3months) to round out my risk tolerance and diversification goals.
What was YOUR big break?
My folks did not pay for my college, but dad did buy a town home he let me rent (rent was the price of his monthly note) and returned my rent to me in the form of equity when I was ready to buy my first home.
This was quite possibly my first BIG break. I've had a few others...like allowing me to live with them rent free for a few years while I "figured out my life".
Also got a decent gift from in-laws when they had extra $ from the sale of property, and also had a break when my wedding venue and catering was covered by in-laws.
FIL helped me more than dad in terms of monetary support, but my dad has really helped me in terms of the DIY attitude. Every time I said "I can't" or "I don't know how" he told me, yes you can, or, you can learn how.
I think building my DIY confidence has helped immensely. I don't pay others for help, unless absolutely necessary.
That equity he returned to me was just in time for the $8k first time home buyer credit that was offered about a decade ago. I bought my first home, received that $8k on my tax return, and there was no looking back after that. Own two homes, have more money invested than *most my peers and I attribute it to the BIG break I received. Looking for a third and final investment property (in Florida in 3months) to round out my risk tolerance and diversification goals.
What was YOUR big break?