dmarc117 Posted February 25, 2009 Share Posted February 25, 2009 hypothetical....... if you had 100k for your kids, would you...... spend it on their schooling or invest it for them to have later in life? Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted February 25, 2009 Share Posted February 25, 2009 Both. Quote Link to comment Share on other sites More sharing options...
Double Agent Posted February 25, 2009 Share Posted February 25, 2009 Schooling. My job is to educate them. I don't see me buying them a house or cars once they're grown. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted February 25, 2009 Share Posted February 25, 2009 Take the student loans. They'll never see such cheap interest rates again. Save the 100K to start their own business when they turn 30. Quote Link to comment Share on other sites More sharing options...
Scooby Posted February 25, 2009 Share Posted February 25, 2009 I'm investing in 529 plans for them, but it sure is painful to watch the $$ evaporate Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted February 25, 2009 Share Posted February 25, 2009 definitely save it for them for their future....like when they turn 30 or 40. I certainly wish my dad came to me today and said "Here's $100K (+ interest) that i've been saving for you since you were a tot 30 years ago"....linvested conservatively (double every 7 years?), it would likely be well over a million today. Quote Link to comment Share on other sites More sharing options...
muck Posted February 25, 2009 Share Posted February 25, 2009 Schooling. My job is to educate them. I don't see me buying them a house or cars once they're grown. I hope you view your responsibility as a parent to far exceed this low minimal threshhold. I'm not sure we're sending our kids to college; most jobs / professions simply don't require it. An apprenticeship with some targeted education would work in most vocations. I'm sure that many kids would be FAR better off having mom/dad give them an account that they'd been saving up for them in lieu of forking over tens (hundreds?) of thousands of dollars on college and weddings. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted February 25, 2009 Share Posted February 25, 2009 (edited) Take the student loans. They'll never see such cheap interest rates again. Save the 100K to start their own business when they turn 30. This makes sense. Edited February 25, 2009 by Perchoutofwater Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted February 25, 2009 Share Posted February 25, 2009 This makes sense. It's not what I'm doing... because 529s are a pretty good deal for tax purposes as opposed to other savings vehicles for kids. But I don't think I'd pay cash for a college education if it came to it. Quote Link to comment Share on other sites More sharing options...
Double Agent Posted February 25, 2009 Share Posted February 25, 2009 I hope you view your responsibility as a parent to far exceed this low minimal threshhold. I'm not going to say what I'll do 30 years from now. But at some point the kids have got to learn how to make it on their own. If they prove that and I have the resources, I'd have no problem funding a venture. But I've seen parents bankroll their kids into laziness. I've got a friend whose parents did this. They bought him several franchises out of college. He ran all of them into the ground and his parents bailed him out again. He also racked up 10s of thousands in gambling debt and they bailed him out again. More than likely my kids will take over my business...if they choose to. But they'll have to earn it. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted February 25, 2009 Share Posted February 25, 2009 I'm not going to say what I'll do 30 years from now. But at some point the kids have got to learn how to make it on their own. If they prove that and I have the resources, I'd have no problem funding a venture. But I've seen parents bankroll their kids into laziness. I've got a friend whose parents did this. They bought him several franchises out of college. He ran all of them into the ground and his parents bailed him out again. He also racked up 10s of thousands in gambling debt and they bailed him out again. More than likely my kids will take over my business...if they choose to. But they'll have to earn it. Wow, you're friends with George W. Bush?!? Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted February 25, 2009 Author Share Posted February 25, 2009 we are doing a hybrid. 529 for higher education and have some cash for him when he gets old enough. the current discussion is about grade school. my wife wants to send him to a private school here in the city. those are pricey, very pricey. im not sure the benefits are worth the cost for grade school atleast. i think for high school and college it may matter more, but not grade school. Quote Link to comment Share on other sites More sharing options...
Clubfoothead Posted February 25, 2009 Share Posted February 25, 2009 It's going to be tough doing homework in a cardborad box under a bridge. I'd pay off the house. Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted February 25, 2009 Share Posted February 25, 2009 (edited) we are doing a hybrid. 529 for higher education and have some cash for him when he gets old enough. the current discussion is about grade school. my wife wants to send him to a private school here in the city. those are pricey, very pricey. im not sure the benefits are worth the cost for grade school atleast. i think for high school and college it may matter more, but not grade school. I may have to disagree here. Grade and Middle School lay the foundations of knowledge and study habits that spell success in High School. If you are in an area where the public school is small, and effective, the differences between private and public may be small. However, if you are in an are with "mega-schools" (or poorer small schools), you may want to do some research on the efficacy of the public schools before dismissing private. We tried schooling my daughters in the best magnet school St. Louis had to offer. (Being a white couple in the city, we were in the minority and got to pick) However, the school did not challenge my children, and when we expressed concern they were not being challenged, we were met with "what is the problem? They are passing with C's and B's" We knew they were capable of better and switched the education environment. Both girls were/are full honors in high school. Edited February 25, 2009 by cre8tiff Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted February 25, 2009 Author Share Posted February 25, 2009 (edited) I may have to disagree here. Grade and Middle School lay the foundations of knowledge and study habits that spell success in High School. If you are in an area where the public school is small, and effective, the differences between private and public may be small. However, if you are in an are with "mega-schools" (or poorer small schools), you may want to do some research on the efficacy of the public schools before dismissing private. i agree, the public schools in the city are garbage. so you are kinda forced to pay up. but some of these schools are outrageous. we have to go for interviews, my son has interviews and tests.......for kindergarten!!! we have looked at schools whose tuition ranges are great. the most expensive definitely have more technology. my view is to move to a burb with a good public school system so we have the choice. yep, the challenge thing is the problem with those city schools. Edited February 25, 2009 by dmarc117 Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted February 25, 2009 Share Posted February 25, 2009 i agree, the public schools in the city are garbage. so you are kinda forced to pay up. but some of these schools are outrageous. we have to go for interviews, my son has interviews and tests.......for kindergarten!!! we have looked at schools whose tuition ranges are great. the most expensive definitely have more technology. my view is to move to a burb with a good public school system so we have the choice. yep, the challenge thing is the problem with those city schools. As long as the school is safe, your kid will be fine regardless of where you send him if you are an involved parent. If you aren't involved then he / she would be better off at a high end private school. I would argue that a public school kid with involved parents is better off than a private school kid regardless of whether their parents are involved, because involved parents are going to make sure the kid learns, and the public school system does a better job of making kids ready for the real world and different types of people. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted February 25, 2009 Author Share Posted February 25, 2009 As long as the school is safe, your kid will be fine regardless of where you send him if you are an involved parent. If you aren't involved then he / she would be better off at a high end private school. I would argue that a public school kid with involved parents is better off than a private school kid regardless of whether their parents are involved, because involved parents are going to make sure the kid learns, and the public school system does a better job of making kids ready for the real world and different types of people. i hear ya. we are very involved. my wife was/is a teacher so she works with our son everyday. he is more advanced than others in his age bracket. our worry is that the public system wont push or challenge him, like cr8 said. all the private schools have 2 instructors in every classroom. so students get the attention and push while at school. a friend of mine is a teacher in the chicago public system, he siad its basically a daycare for most families. Quote Link to comment Share on other sites More sharing options...
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