Anyone have a trust fund or receive money from parents?

quote:

---

or receive money from parents?

---

how old are you? 16?

I knew when our 2nd was born that private schools were out of the question.

That's a great thing your folks did.

Yes, you're the only one.

My parents don't have shite and I'll be lucky if I don't end up having to financially support them in their later years. But for everybody who's been supported or inherited something from your parents I hope you make the most of it.

Grandparents can pay tuition for grandchildren without affecting gift tax limits. Payments must be made directly from grandparents to school.

Theoretically , ones parents could give their child , who has a family of four $144,000 a year tax free.

$18k from dad to the family of 4
$18k from mom to the family of 4

At least that’s how I understand it.

I’ve got awhile until it becomes a real decision but I’ve already decided I will actively help my children financially while I am alive. Waiting until I die and they are older (hopefully) when they don’t really need the financial assistance is an antiquated approach.

I’ll do everything I can to fund their first house, get out of college debt, and fund grandkids education. Gifts can be tax efficient and people in their 20s and 30s need $50K a lot more than when they are in their 50s.

I haven’t gotten a dime from a parent since I was 14.

quote:

---

My parents very graciously helped us send our kids to Catholic Schools, but we wouldn't have gotten the cash equivalent had we sent them to public schools. They are always willing to help if we're in a bind, but we definitely don't get an 'allowance'

---

This is one of the best ways a grandparent can send their love.

The Grandparents helped us out when we were first married. We never asked for money but would randomly get gift checks. It was highly appreciated and put to good use for our family, and there were times when we were struggling to get by. Now we run a successful business and have been giving back to those same loved ones as well as others. That's a strong family unit. My passion is to achieve generational wealth for the family. When I am in hospice when I am old and weak, and know that I helped paved the way for a privileged life for both my kids and grandkids, I will die a happy man.

My grandfather was a blue collared worker who worked his arse off with a passion to never let his kids or grandchildren have to endure what he did. He helped his kids big time. Now we are taking it to the next level. I want my family to become old money.

no we fricking work our arse off and do not mooch nor are we trust fund babies

get a job!