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re: The wife and I made a difficult decision this weekend
Posted on 8/13/18 at 7:48 am to The Pirate King
Posted on 8/13/18 at 7:48 am to The Pirate King
quote:
Yeah, I mean it would suck to have to sacrifice a few years of retirement for the betterment of your children or something...
They can still be bettered, it just won't happen on his dime.
Smart decision IMO. If your child is intelligent enough to go to college, there will be scholarship money to help. It may not be to the school you always wanted, but it will be there. I'm one of 4 and all 4 went to college without a penny from our parents towards school costs. They gave us some spending money at times, but that was it. None of us had any debt either.
This post was edited on 8/13/18 at 7:49 am
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Posted on 8/13/18 at 7:50 am to SlowFlowPro
quote:
that's actually a really good point
The counter to that is that if they gave them a leg up, they could accumulate more wealth to ease that burden.
We're arguing over which point in life we attack the same issue.
Posted on 8/13/18 at 7:52 am to 50_Tiger
quote:
I am not sure if the OP and others against paying for their kids' tuition realize that they are setting their kids back anywhere from 5-10 years in terms of accumulating wealth.
i agree and i had a lot of friends from well off families and every now and again there would be a slight bit of jealousy b/c they were able to have more free spending, but it also set me on the right path in terms of appreciating the advantages of accumulating wealth. there is almost no way i'd be where i am had i been that pampered and i can't help but think i appreciate what my mom did for me a great deal more.
i have friends who lived that pampered life and got right into the "keeping up with the joneses" mentality b/c of the lack of value in their income/wealth. people like me may start behind, but i imagine people like me end up in financial distress at a lower rate b/c of the mindset differences.
Posted on 8/13/18 at 7:52 am to 50_Tiger
quote:
I am not sure if the OP and others against paying for their kids' tuition realize that they are setting their kids back anywhere from 5-10 years in terms of accumulating wealth.
I paid for my own college for 2 years and hated school, dropped out. Got on fire dept, started a side job for $1,000 doing windshields. Had a house on 6 acres by 24, no student debt as I paid for my college in full every semester. I understand every situation is different, but for all the lady’s in here posting that are in tears and mad about OP, join the military and have your college paid for there. Why throw that burden on your parents when they are probably a decade or so from retirement age? They wanna drive a nice vehicle, hang out with friends and stay out all night, eat at fancy restaurants, etc but want mommy and daddy to pay for their college, nope.
And for other post below that, I don’t know a single person retiring at 62. I’d say 75% of the older folks I know worked or plan on working till at least 70.
Posted on 8/13/18 at 7:54 am to 50_Tiger
quote:
I am not sure if the OP and others against paying for their kids' tuition realize that they are setting their kids back anywhere from 5-10 years in terms of accumulating wealth.
Give me a break. Earn scholarships, do work study. I just finished up working two jobs to pay for my wife to go through getting a second degree during which we had a baby. She got her new degree without taking on any new debt. quote:
As someone who had to navigate accumulating wealth and paying back debt, it took me until now (Age 32) to finally be able to start the process of looking/buying a home.
Should have picked a better major or somewhere cheaper to live then. I graduated LSU with a shite load of debt since I changed majors twice and still had no problems buying a house within a couple years of graduating. My $600 a month minimum payment on the loans ins't crushing your budget unless you aren't making much.
This post was edited on 8/13/18 at 7:59 am
Posted on 8/13/18 at 7:55 am to yellowfin
quote:
You are bitching and at the same time telling us how you basically cover all your college daughters expenses
Which is it?
I’m not actually bitching, just seems that way typed out. She lives with us, we pay her vehicle and insurance although just paid off her car. We haven’t paid any student loans and don’t intend to but saying that, we might help here and there. I’m not covering all of her tuition is what I’m saying. I have no problem of course if someone does. I just don’t agree with some of the remarks towards OP
Posted on 8/13/18 at 7:57 am to windshieldman
quote:
hey wanna drive a nice vehicle, hang out with friends and stay out all night, eat at fancy restaurants, etc but want mommy and daddy to pay for their college, nope.
I am def not advocating for any of that nonsense.
quote:
And for other post below that, I don’t know a single person retiring at 62. I’d say 75% of the older folks I know worked or plan on working till at least 70.
My parents (both 65) mishandled their finances so bad that my Dad still works.
My Dad worked in the Gulf for Freeport and when they shut down Main Pass they gave him an option of working one more year and he would receive 90% of his salary (6 figures) as a pension. He decided to take the year off. When both his kids were just going into Junior High. In my situation its extremely easy to be pissed off at my folks (I didn't understand entirely at 16 years old the ramifications) but as many others have said, life gives you a different hand from everyone else.
Posted on 8/13/18 at 7:57 am to Houma Sapien
quote:
kids learn some lessons the hard way.
Like starting out in debt? LOL I guess making retirement sacrifices qouldnt show them anything, right. Like the value of family bettering themselves thru the sacrifice of parents.
Parents like you and the OP somehow think the kids are a burden and should be overly appreciative to the parents. Like the parents recieved no enjoyment out of bringing kids into the world and having them in thier lives.
Like upper education is some kind on cut off.
Your parents didnt pay for your upper education because they were probably poor, which is ok. It's not because they sat down 10 years earlier and decided they wanted to quit working sooner.
quote:
God help them.
Pretty shitty thing to say to another man because he will work past retirement to make sure his kids arent in debt when receiving their diploma. Says a lot about you, not me.
Posted on 8/13/18 at 7:58 am to LNCHBOX
Electrical Engineering. The only other option for higher starting salary is Software Dev or Doctor 
Edit: Where do you live LNCH?
Edit: Where do you live LNCH?
This post was edited on 8/13/18 at 7:59 am
Posted on 8/13/18 at 7:59 am to SlowFlowPro
quote:
quote:
Still most schools cost more than $20k, how is the average teen supposed to afford that?
don't choose those schools
sacrifice, like i did, and go to a cheaper option. there is almost always a cheaper option (even down to JUCOs)
But if the return on investment is improved by going to a better school what parent wouldn’t want that for their child? If you can improve your child’s opportunity for better future income why deliberately choose not to unless you can’t? The OP is declaring this a choice.
Btw. I mentioned I didn’t go to a state school chiefly to point out that many non state schools don’t allow you to go part time and work. Having to go full time makes it much harder to work and go to school.
Posted on 8/13/18 at 7:59 am to 50_Tiger
quote:
Electrical Engineering. The only other option for higher starting salary is Software Dev or Doctor
Well then something isn't adding up if you couldn't "build wealth" until 32. Maybe it's your sorostitute car.
Posted on 8/13/18 at 8:00 am to GeeOH
quote:
Like starting out in debt? LOL I guess making retirement sacrifices qouldnt show them anything, right. Like the value of family bettering themselves thru the sacrifice of parents.
Parents like you and the OP somehow think the kids are a burden and should be overly appreciative to the parents. Like the parents recieved no enjoyment out of bringing kids into the world and having them in thier lives.
Like upper education is some kind on cut off.
Your parents didnt pay for your upper education because they were probably poor, which is ok. It's not because they sat down 10 years earlier and decided they wanted to quit working sooner.
the entitlement just oozes from the screen.
Posted on 8/13/18 at 8:00 am to LNCHBOX
This thread has been pretty interesting. You can pretty easily understand why college has become such a bubble and many degrees are relatively worthless - everyone thinks they're college material.
If taking on debt is such a concern, perhaps LSU isn't for you. If you've got to take on a ton of debt to go to a directional school, perhaps college isn't for you.
If taking on debt is such a concern, perhaps LSU isn't for you. If you've got to take on a ton of debt to go to a directional school, perhaps college isn't for you.
Posted on 8/13/18 at 8:01 am to GeeOH
quote:
Pretty shitty thing to say to another man because he will work past retirement to make sure his kids arent in debt when receiving their diploma. Says a lot about you, not me.
I don’t think either of y’all are necessarily wrong but I’d be mortified, absolutely mortified, if my parents had to work past retirement age to pay off my college. I don’t care if they were fine with it, that would make me sick
Posted on 8/13/18 at 8:01 am to PrivatePublic
Not all colleges are $50k a year. Send them to a less expensive school.
Posted on 8/13/18 at 8:02 am to slackster
quote:
If taking on debt is such a concern, perhaps LSU isn't for you
Yep.
This is why I didn't go to LSU. LA Tech offered full ride on top of TOPS. If I had went to LSU, I would have had to take out a loan to cover living costs.
I made the decision to go to a "lesser" school because I didn't want to graduate with debt.
Pretty happy with that decision.
Posted on 8/13/18 at 8:02 am to LNCHBOX
quote:
Well then something isn't adding up if you couldn't "build wealth" until 32. Maybe it's your sorostitute car.
Graduated HS in 2004
UNO went underwater in 2005
Sold Toyota's at Ray Brandt for 1 1/2 years
Moved to Bossier City and worked in a Pharmaceutical Warehouse for 3 years.
Crossed the state line into TX and went for my degree at age 25.
This was all done with no parental support.
quote:
sorostitute car.
It is what it is. I love my car.
Posted on 8/13/18 at 8:04 am to 50_Tiger
quote:
UNO went underwater in 2005
Sold Toyota's at Ray Brandt for 1 1/2 years
Moved to Bossier City and worked in a Pharmaceutical Warehouse for 3 years.
Crossed the state line into TX and went for my degree at age 25.
No one made you stop school. You're being very disingenuous with the student debt held you back until 32 nonsense.
Posted on 8/13/18 at 8:04 am to Evil Little Thing
quote:
Adequately saving for retirement is the most important financial decision a parent can make. The burden of financially supporting aging parents would be a lot higher than a few years of student debt.
Who says you can’t save adequately for retirement and put money away as well for the kids’ college? Unless you’re spending money like it’s a never ending well, that’s very doable. And I’m inclined to think that OP and his wife were spending money like the well would never dry up until they realized that “oh shite, little Johnny is about to be college age and we don’t have any money to help him out.”
Posted on 8/13/18 at 8:05 am to PrivatePublic
You know what eats into retirement a 35 year old living at home.
But seriously I will help my kids succeed in anyway I can, they will have a job while in college.
If your retirement is so on the line that 10k a year for 4 years ruins it, Then you should have done better long before. So what like even future costs you talking about 80k if you have two kids. You should be at millions when you are ready to retire
But seriously I will help my kids succeed in anyway I can, they will have a job while in college.
If your retirement is so on the line that 10k a year for 4 years ruins it, Then you should have done better long before. So what like even future costs you talking about 80k if you have two kids. You should be at millions when you are ready to retire
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