I ask this question because my dad has mentioned numerous times the amount of money it costs to raise each kid. He even has it down to a dollar amount - $500,000 per kid, which sounds over-exaggerated, unless he's adjusting for inflation as I grew up in the 1980s and 90s. The math does not seem to add up considering that he never made over 50K when I was living at home and there were two kids.
He often mentions the business opportunities and real estate investments that he had to forego because mother would no allow it as the money went to raising kids. While I appreciate his sacrifices, he seems to bring this up every so often. It's almost as if he was saying that he would otherwise be wealthy and enjoy his retirement more. My parents are divorced, and while his financial situation is not bad, I think he feels bad after comparing his situation to married couples that are in a better financial situation.
Anyway, he still would have had to pay for housing and transportation if not for his kids. It costs a lot to feed kids, clothe them, health/dental, and the numerous other expenses, which I appreciate. By the time I was 18, I was mostly paying for my own food and clothing. I paid for most of my college, which is fine, because I don't believe that parents owe this to their kids. It seems like 500K is a stretch for me, and even if I wanted to repay him, I could not afford to write him a check for that amount.
I have given him a loan in the past (to buy a second property) and did many chores when I was living at home. I still help him out occasionally. Perhaps all of that could be deducted from the amount as he complains how much he currently pays the lawnmower guy (which was one of my chores).
But anyway, do you feel like you owe your parents? Are there ways in which you've repaid your parents for their sacrifices? My dad owns a cabin and has asked numerous times if I wanted to buy it, despite him being retired and me still working. I could likely afford to buy and it might be something I would be willing to do down the line but doesn't seem like the best financial decision at this point.
He often mentions the business opportunities and real estate investments that he had to forego because mother would no allow it as the money went to raising kids. While I appreciate his sacrifices, he seems to bring this up every so often. It's almost as if he was saying that he would otherwise be wealthy and enjoy his retirement more. My parents are divorced, and while his financial situation is not bad, I think he feels bad after comparing his situation to married couples that are in a better financial situation.
Anyway, he still would have had to pay for housing and transportation if not for his kids. It costs a lot to feed kids, clothe them, health/dental, and the numerous other expenses, which I appreciate. By the time I was 18, I was mostly paying for my own food and clothing. I paid for most of my college, which is fine, because I don't believe that parents owe this to their kids. It seems like 500K is a stretch for me, and even if I wanted to repay him, I could not afford to write him a check for that amount.
I have given him a loan in the past (to buy a second property) and did many chores when I was living at home. I still help him out occasionally. Perhaps all of that could be deducted from the amount as he complains how much he currently pays the lawnmower guy (which was one of my chores).
But anyway, do you feel like you owe your parents? Are there ways in which you've repaid your parents for their sacrifices? My dad owns a cabin and has asked numerous times if I wanted to buy it, despite him being retired and me still working. I could likely afford to buy and it might be something I would be willing to do down the line but doesn't seem like the best financial decision at this point.
Statistics: Posted by max79 — Mon Sep 09, 2024 10:01 am — Replies 15 — Views 549