Log in

No account? Create an account

Previous Entry | Next Entry


Or a proto meme. allanh  mentioned that people have been memeing "What would you do if you won the lottery?" question.

I like this day dream, so what the hell, I'll write it down.

1. Pay off house.
2. Buy Joe new car.
3. Fully fund retirement funds for us, kids, parents.
4. Throw party.
6. Plan year long trip around the world
7. Live comfortably on rest
8. Give lots of it away.

Note I did not say "College fund". Why? I believe that children only value the things they have to work for. Whether or not we ever hit the lottery, the only thing of my childrens college education that I plan on paying for is their room and board. They will have to come up with reg fees, book money, beer money, etc. Maybe its harsh. But I saw too many people in college pissing their opportunity away 'cause Mommy and Daddy were paying for everything. Those of us who had to scramble took it seriously and got good grades. And for the most part succeeded.



( 3 comments — Leave a comment )
Jul. 16th, 2010 11:18 pm (UTC)
We love Shaun the Sheep!

And your reasoning is why my children will pay *at least* half of the cost of their first car too. Less bloody likely to crash it!
Jul. 17th, 2010 01:05 am (UTC)
My attitude on cars and driving is: no license until you've forked over to me half of what your insurance costs for a year, and you have to pay it. And car? You can use mine...you need to get somewhere...here's a bus pass. =)
Jul. 17th, 2010 06:44 am (UTC)
I agree with you in principle, but not in execution.

I expect my kids to pay for some of it, and certainly for the beer money, etc., but in practice, financial aid will look at the parent's finances and figure out how much you can "afford" to pay. Then they try to make up the rest in financial aid. You can manage to declare the kids as independent before this time, but the logistics of that aren't exactly simple.

What it comes down to is this - I want our kids to be able to go to the best school they can get into that they want to go to. I don't want finances to be a limit on that. But, I do expect them to help pay the way and I do expect them to leave school with some loans.

Mainly, I don't want them deciding to go to Washington State instead of MIT just because WSU is cheaper, so we will have a small "college fund."

( 3 comments — Leave a comment )

Latest Month

January 2016

Page Summary

Powered by LiveJournal.com
Designed by Teresa Jones