My Husband Doesn't Want To Save For Our Kid's College 

You say it’s ok to let your kids live at home. Not when your parents kick you out when you turn 18

That’s what we are doing.

I did this and paid $15k, now I make 120k right out of college

@@edgarc407 way to go

Yes! My husband did this. I moved home after college to live with my mom, a single parent - got a full time job & part time job, and paid VERY reduced expenses! Forever thankful to my mom for giving me that opportunity!!

Exactly

That’s basically an UTMA, and what I have for my kids. Your kids only pay taxes on it based on their bracket, which as a 21yr old, will be basically no taxes. Dave doesn’t like UTMAs because they have no strings attached.

This stuff isn’t hard, the education system has just failed us when it comes to finances

@@zoeyredmond5501 at a certain point this isn’t even financial education but basic common sense.

Wise advice.

Lol! Ok! 🙄 what about people like me who did by all standards try to do what was “right,” but found college to be a complete RIP OFF and I’m STILL paying for a worthless degree that should have been paid for because I was in the military during 9/11 and then served during a war in which Bush CUT THE COLLEGE FUND for soldiers like me who re-enlisted specifically to get this benefit and after having to drop out of school in the middle of the semester because I was deployed I was stuck holding the bill after serving my country and being denied the very benefits that are used as the carrot on the stick!? Comments like yours are extremely short sighted and you act like everyone is the same lol! Ok! Good luck when you get old with such gross ignorance. Seriously! 🤦🏼‍♀️

To be honest college is over rated so you cannot attribute a successful future to saving for their college. There is no guarantee of a successful future because of some paper

Funding their child's future unfortunately can leave parents unable to adequately fund their own when they get old, leaving said child guilt ridden yet resentful at the same time when a debilitating illness drains the parents of their savings. Having a mother with Alzheimer's who went far beyond the call of duty for me and my siblings, I speak from experience.

@@abrahamflores2566 understood. But, I’m talking about parents who have a general disinterest in their children’s future. There are parents that leave their children to simply finding their own way, with no guidance whatsoever. Some of those parents may do so because, as DR has had as subject before, they see their children as merely an extension of themselves, rather than an individual that needs to thrive on their own.

You should already know that for many it is not that simple? In your town where do the fast food managers and bus drivers come from?

How did you pay off $40K in one year making $75K? I would assume you brought home $55K. So, you lived off of $15K that year? Did you live at home or something??

@@MissTXTee It was a little over a year, about 15 months. I kept my expenses very low. I had a roommate and was paying only $600/month in rent. I was throwing thousands at the debt each month.

Wow good for you! Congrats

And awesome job by the way. Nice to see a fellow young person crushing it instead of whining and parasiting.

Most parents don’t do it because it jeopardizes their ability to buy “stuff” not their retirement.

@@edhcb9359 true. I know a few families with no money for kids’ college. One bought a new house they didn’t need, amazing backyard, luxury suv. The other just bought themselves a brand new suv as well but I guarantee when they kids turn 18: “sorry, we couldn’t afford to help you!”

@@patty109109 which is why they end up working in a fastfood, getting knocked up in an early age and debt.

Save like 15k and make them pay their way?

Agree

AMEN!!! Wanna go to college? Join the military. Parents shouldn’t take on this burden.

They work like me during school and everybody else

College is an investment you make in yourself, not a right.

Its not college. But getting knowledge and certifications is absolutely necessary

Degree in what?

@@javierhuizar4207 This is the main question

Are you single?

You found out the hard way that the system doesn't love you.

I dropped out of college because the tuition and rent at Berkeley was too much. I still ended up with a job that paid a six figure income. I wanted to be able to allow my children the option to attend college without having to worry about the cost. I put enough away to pay for both of their educations. I was fortunate that my daughter received a scholarship that covered tuition and provided a generous stipend.

Thank you

Excellent plan

Yup. Love and respect are different things. Love 'em always. Respect 'em when they earn it.

House is a better idea. I like that.

Hope it works pout for the kid. Overall, I think it is a bad idea. If the kids are responsible and mature to take on the responsibilities of college at 17 or 18 I would say fund them as much as you can. I told my kids I prefer them studying making good grades than working. Good grades equate to scholarships. Scholarship money is way more than working for money. Now, if the kids are not mature and not ready for college or any type of education then it is better to hold on to the money.

I offered to let mine live at home rent free including utilities and standard food free as long as they were attending college full time or attending college part time and working part time. They can even return and take me up on it if they are still single.

Yup same here! Best thing I ever did in 1998

@@JKBelle Class of 2007 over here lol We both Ancient 😂 98 was a good year though.

No you're still young. Class of 83

My parents told me I could stay at home if I went to college. I got a job instead and was out of the house at 19.

And when they’re 80 and in need of assistance make sure you tell them the same thing…….👍

I think often the case is that young people going into college don't necessarily have plans. Many still don't even know what it is that interests them, and (at least at my high school), they didn't really have us considering our future that way. I, personally, have an English Literature BA and French minor. Has the degree helped me in most of my career choice? Maybe a little bit. But now I teach skateboarding and actually make decent money! I wouldn't have thought I was going to be doing this to have income even after I graduated... But now that I have the language background and the teaching experience through skate lessons, in the future I could become a teacher. Point is that college can look pointless in regards to setting up your career, but it can help you be creative and think for yourself, and keep yourself on a plan should you need one in the future.

I agree with you I went to college right after high school I got my bachelors in psychology. I have no job but thanks GOD I don’t have any loans

Life isn't all about money. Calling higher education a waste is like saying you should eat beans and rice your whole life.

@@matthewmchenry9331 You're arguing against things nobody said. Nobody said that life is all about money and nobody said that higher education is a waste. But regardless of your interests, spending multiple hundreds of thousands of dollars in debt on a degree where you can only make 50k a year and can't advance is highly unwise. And thats a constant occurrence in our education system. Every year there's tons of people graduating who could make similar money working full-time at Costco, yet they have 200k in debt. That's what we're talking about

@@random-nz7dy again, making it all about money.

College is pointless if you get a pointless degree that doesn’t result in a job. If you get a degree for a specific job, it’s not pointless.

Indeed!

@@kellywaddell4448 it's pointless, regardless of the degree.

@@anthonywebster8638 i disagree, im an rn and the only way to get in my position is through education. And there are other ways to get it without being i debt.

College is not pointless. Pointless college is pointless. Like everything else in life, it needs to be done with a plan and a purpose. If you get a degree with no plan and it has no marketplace value then absolutely it's going to feel like a waste. But if you get a degree that sets you up for say applying to medical school, that's not useless. What happened was for many years, college degrees in and of themselves were generally pretty attractive. Just having the degree was seen as huge. That's no more. A bachelor's degree has become the new standard like a high school degree used to be. Nobody cares about having a bachelor's degree in and of itself. It's where it leads that matters

@NomadBachelor You missed the part where I said "but the returns don't have to be monetary."

I’m one of those “dumb” truckers making about 140k on a 5k trucking school certificate.

@@truckingmoney485 thank you. It’s a scary job. I appreciate all you do. I couldn’t do it! ❤️

Trades aren’t always a “forever” job though, as the physical demands of the job may not be something someone can handle once in their 40s, 50s, 60s, etc. I work at a trauma hospital and every day see work accidents - men falling off ladders, roofs, scaffolding; getting major injuries from nail guns, saws, forklifts, etc. Sometimes it’s safer and better in the long-run to have a college degree and job that is less physically risky.

These jobs are very laborious. Not everyone is meant to do hard manual labor for 40 years. We need doctors. We need lawyers. We need teachers.

Facts

If you can afford it, you owe them. It should be funded 100% by the taxpayer. It’s your mindset that has caused US to become such a mess.

@@millsathn It seems like you don’t know what “owe” means.

To much “stuff” to buy yourself instead of helping your kids…right?🤷🏻‍♂️

@@millsathn If college and higher education is optional that why should taxpayers fund it and not people just take out loans for it?

A parent’s job is to provide for their children. “My children didn’t choose to be born. I chose to have them. They owe me nothing. I owe them everything.”-Elon Musk. The husband better not be counting on the kids to take care of him when he’s elderly because they either won’t be able to afford to help him because of his selfishness and recklessness or they will refuse to help him because he refused to help them.

Yes, it is a parent’s responsibility. Part of a parent’s job is to provide for their children. Us parents have about 19 years to work, get promotions and raises, save, and invest from the moment we find out we’re going to be parents until our kids go to college. Kids obviously don’t have that luxury. That’s why it’s not a big deal for us parents but it is extremely difficult for the kids. And I’m betting college was a lot cheaper when you went than it is today. If he doesn’t help them with college, they’re not going to help him when he’s elderly because they either won’t be able to afford to help him because of his selfishness and recklessness or they will refuse to help him because he refused to help them. The amount of aid they get is also dependent on the parent’s income because it is assumed that the parents will pay.

But college is 100's of times more expensive than even just 20 years ago thanks to the governments guaranteeing of school loans. It's not a fair comparison.

@@johnmartin4641 You said it brother!

@@johnmartin4641 I don’t think it’s my responsibility to fund their college and I don’t think it’s their responsibility to care for me when I’m elderly. I should be taking care of that myself…hmmm. So if I can’t pay for my kids college the best I can do is not be a financial burden to them when I’m old.

Or coders!

They can go to Job Core for FREE!

@@JKBelle I forgot about Job Core! Thank you for stating this.

Ok. I suggest they become engineers.

@@JKBelle Corps

It’s “Don’t throw the baby out WITH the bath water.” How could you never have heard that old expression? I’m telling you, this is why Americans are growing up without any common sense.

It’s only a rip off if you major in something useless like German Polka History. I went to college, which was required for my job, and I did very well and made several times what the cost of college is today every year (except very early on in my career because I was young and inexperienced) and retired in my 50s.

Dumbing down of America

Tax free growth

💯

No brother you have it right, these idiots willingly allow their kids to go into lower paying fields or take on massive debt then throw them out into the world with that poor financial situation. No wonder foreigners through out all metrics crush Americans when it comes to income and success in this country.

Wouldn't this be a good opportunity to explain investments? As parents, we support, but can we take an investor role in their lives also?

@John Lopez All this talk about mutual funds rofl. If 10 people choose mutual funds, 9/10 of those people will underperform their relative benchmarks over time. The science has been settled. Stop talking junk.

Kids working and going to school is possible you know.

We shouldn’t have to pay for their college, it should be on them .

Lol my parents were like “here’s one semester of community college and you’re on your own!” Ok, so I joined the Army in 1998 and it made me grow up for starters and realize I’m not a princess like I thought!

@@isaacpoling9200 ignorant comment

Thanks

@@georgewagner7787 🤣

He now goes by Georgette.

Until a better job position opens with 1.5% raise for but only if you have a better education. Believe it or not the other 2 years that you go for the 4 year degree, usually teaches you new stuff, sometimes more advanced stuff... but hey your 2 year degree is still worth a little.youre Just the very basic hire until they find someone more qualified.

College is a horrible investment. I dropped out of high school and make 200k a year.

@@anthonywebster8638 Good for you. You are in the top one percentile for High School grads. Are you willing to make that same bet for your kids when you could so easily secure a future for them?

Or do neither, your choice people.

@@spankynater4242 If you're going to do neither, maybe don't have kids. I get it, you don't have to do anything for them after they turn 18, but then why have them if you're not going to do what they need you to do to set them up for a good life? That said, college doesn't have to be the way you set them up for a good life.

@@steveneptun7580 your job is to teach them to be independent. Not to string them along and keep them needing more and more and more. If you can’t teach your children to stand on their own, then you failed as a parent.

Agree

Agreed

Then you have a large amount of money to do whatever you want with.

yeah, just send your kids out thinking their only option is to go into massive debt. And guess what, if they don't go to college then its just extra savings.

Exactly

The role depends on the parent's choice to pay or not pay for college education. The problem is broke parents forcing their children into college and haven't saved a dime to pay for it.

@@emanmar70072 exactly! Although education is very helpful to get a job, if you can’t afford it do t send your kid to a 4 year school and go into debt, be smart about it!

If you as a parent with a boomer mentality are going to demand your children go to university, then yes it is the parent's role to save for it. It's also a parent's role to set their children up to do better than they did themselves. Another lesson lost on the boomer generation and their spawn.

You really managed to pack a lot of ignorance into one comment.

@@superblump87 and yet I was able to retire early...🤔 sure! 🤣

If you save enough for them to go to school by taking advantage of tax-free growth in a 529, you don’t need aid, loans, etc. The point is to avoid debt, not hide money.

Agreed!

@@truckingmoney485 Fellow Trucker here 😀 You know what I mean!

College taught his kids how to think critically and be successful. He wouldn't have hired them without a degree.

@@superblump87 That could be taught at home.

@@karmiek777 sure, but not to the same extent.

Unless they have a co signer.

That will happen. 🤣🤣🤣

Because it’s what any decent parent would do for their children. Part of a parent’s job is to provide for their children. Us parents have about 19 years to work, get promotions and raises, save, and invest from the moment we find out we’re going to be parents until our kids go to college. Kids obviously don’t have that luxury. That’s why it’s not a big deal for us parents but it is extremely difficult for the kids. And I’m betting college was a lot cheaper when you went than it is today. If he doesn’t help them with college, they’re not going to help him when he’s elderly because they either won’t be able to afford to help him because of his selfishness and recklessness or they will refuse to help him because he refused to help them. And the aid they’re awarded is based on the parent’s income because it is assumed that the parents will pay.

Because he's rich bro he sees everything different cause he can pay .now I agree 💯 wt u I didn't even haveparents and I'm ok .bro I worked wt guys that went to college and had no clue what to do out in the real world true story had them asking me what's a 45degree drop .I don't even have a high school degree haha 🤣

Exactly

Agreed! I joined the army because my very financially responsible parents just couldn’t pay for it!

@@JKBelle So you think the army is ok but a gang is not even though both can offer fianacial support?

You don’t have to, but if you can, you should.

Yes, it is a parent’s responsibility. Part of a parent’s job is to provide for their children. Us parents have about 19 years to work, get promotions and raises, save, and invest from the moment we find out we’re going to be parents until our kids go to college. Kids obviously don’t have that luxury. That’s why it’s not a big deal for us parents but it is extremely difficult for the kids. And I’m betting college was a lot cheaper when you went than it is today. If he doesn’t help them with college, they’re not going to help him when he’s elderly because they either won’t be able to afford to help him because of his selfishness and recklessness or they will refuse to help him because he refused to help them. Don’t count on your kids helping you if you refuse to help them, because it’s likely not going to happen. And the aid they’re awarded is based on the parent’s income because it is assumed that the parents will pay.

I used my Engineering degree to beat out other candidates, for a 48-month apprenticeship as a Power Station Electrician, union IBEW. All the apprentices had engineering degrees.

...Because most of us can't be celebrities or athletes, so we need to get a degree in order to be qualified for many of the high paying jobs out there.

@@MissTXTee Who told you that? Your public school. Unless you're trying to be a doctor, lawyer, or anything in STEM, college is a complete waste of time, money, and resources. You're better off getting into an apprenticeship through Praxis.

Literally not true

@@dillonmccann8072 Sure is.

@@ChoKeller if you add teachers, supply chain management, finance, architecture, urban planning, we’re talking about 10-20 million jobs right there that necessitate a college education

You must be new here if you don't know who she is.

@@todd2456 nah. Just don't watch that much anymore.

Agree! 💪🇺🇸

😂

Part of a parent’s job is to provide for their children. Us parents have about 19 years to work, get promotions and raises, save, and invest from the moment we find out we’re going to be parents until our kids go to college. Kids obviously don’t have that luxury. That’s why it’s not a big deal for us parents but it is extremely difficult for the kids. And I’m betting college was a lot cheaper when you went than it is today. If he doesn’t help them with college, they’re not going to help him when he’s elderly because they either won’t be able to afford to help him because of his selfishness and recklessness or they will refuse to help him because he refused to help them. And the aid they’re awarded is based on the parent’s income because it is assumed that the parents will pay.

Lol why cuz your parents didn’t pay for yours? Letting your kids have a head start to life is one of the best things you can do. Paying for education is never a bad thing, now if they bought them designer clothes every year that teaches your kid nothing, but education is important and this gives them a huge headstart and options.

@Tankkizzle if they have the means they should. If you want generational wealth, small things like education are the best thing to get started on it! Obviously if a kid wants to go to Harvard for no other reason than it’s Harvard, that’s drawing the line (although in some fields a well connected school can get you much further in life so you have to weigh up the potential if you are able to afford that) but to be in a position to pay for your child’s further education is an incredible thing. If a family is still in debt and have a mortgage to pay, then their kids should be paying for themselves. My education was fully paid for, now instead of money going to debt, now at the age of 24 I have a 250k+ net worth as all my money (not used for day to day life) is invested.

@@guyrose2350 People like you understand that capitalism only rewards wealth so going what you can only makes sense.

Part of a parent’s job is to provide for their children. Us parents have about 19 years to work, get promotions and raises, save, and invest from the moment we find out we’re going to be parents until our kids go to college. Kids obviously don’t have that luxury. That’s why it’s not a big deal for us parents but it is extremely difficult for the kids. And I’m betting college was a lot cheaper when you went than it is today. If he doesn’t help them with college, they’re not going to help him when he’s elderly because they either won’t be able to afford to help him because of his selfishness and recklessness or they will refuse to help him because he refused to help them. And the aid they’re awarded is based on the parent’s income because it is assumed that the parents will pay. They give the kids less money because they assume the parents will do their jobs and pay.

@@donaldlyons17 any system that has ever been implemented in our history only rewards wealth or those with incredible skill, that’s why giving your kids a leg up into education is great, and also allows people who have skill and brains to be able to get scholarships when they ACTUALLY need them because their parents cannot help them at all. All these parents who are comfortable and could help, take away from the families who can’t and therefor steal someone else’s chance of education.

@@Austenfan177 I'm not sure what you're referring to. Most of the people I know (including myself) didn't have school paid for. College is an option and choice, there are plenty of other avenues. If a parent can pay...Great. When they can't afford it, then there are alternatives. Financial help is great but at the end of the day keep it realistic within your situation. I know lots of people with degrees that don't use them and plenty tradesmen jobs where they make great money. I never said anything about kicking anyone out at 18 so I'm not sure where you got that. There's a difference between helping within reasonable logic and feeling obligated to foot the bill on all your kids choices.

Yes, it is a parent’s responsibility. Part of a parent’s job is to provide for their children. Us parents have about 19 years to work, get promotions and raises, save, and invest from the moment we find out we’re going to be parents until our kids go to college. Kids obviously don’t have that luxury. That’s why it’s not a big deal for us parents but it is extremely difficult for the kids. And I’m betting college was a lot cheaper when you went than it is today. If he doesn’t help them with college, they’re not going to help him when he’s elderly because they either won’t be able to afford to help him because of his selfishness and recklessness or they will refuse to help him because he refused to help them. And the aid they’re awarded is based on the parent’s income because it is assumed that the parents will pay.

It’s not based off what u have saved

@@dillonmccann8072 Now with income that may be true depending of whether or not the go to school inside their home country but as far as I know the schools with billion dollar endowments don't count saving.

You could not be more WRONG sir!

😂 👏🏻

Sell the wife

No one cares

As an Irish person, its all i ever think about when they say it