He Received $20,000 As A Graduation Gift For His Children, But He Wants To Use It To Pay For Their College Educations So He Can Retire Earlier
A 60-year-old man and his 52-year-old wife have two 18-year-old children, Landon and Alice. While he doesn’t consider himself to be rich, he is the owner of a company and makes enough to support his family and allow his wife to stay at home since Landon was born.
He has a 38-year-old nephew and a 36-year-old niece, Evan, and Anita, who have both done very well in their lives financially.
They both work as lawyers, receive high salaries, and own multiple large homes across the globe.
When Landon was about to start middle school, he was planning to attend a public school, but Evan was able to get him an interview at an expensive private school.
Both Landon and Alice were accepted to the private middle school, but he struggled to see how they could afford such expensive tuition.
Evan and Anita decided to open an account solely for Landon and Alice’s education and provided them with $350K for their middle and high school tuition.
The brother and sister both got into the same college and received some scholarships. Even so, his and his wife’s personal saving would just barely cover their cost of tuition.
$60k remained in the account after graduation, and his children suggested splitting the amount between them as a graduation gift.
“I’ll admit, when I heard that, I laughed in their faces. No way…was I giving my kids 30 thousand dollars each,” he explained.
Kathy images – stock.adobe.com – illustrative purposes only, not the actual person
He tried to explain to his children that this money was intended for their education, not as an additional gift. He even reached out to Evan and Anita, telling them the situation, and they confirmed that their wish for the rest of that money was for it to go toward their college tuition.
“They also offered to pay for their college, but considering they’re basically the reason they got accepted, we declined and said our savings could take it,” he said.
Evan and Anita decided to provide an additional $20K as a gift but said that it was up to him and his wife to decide whether it would go toward the college tuition or be given straight to Landon and Alice.
He tried to explain to his children that if he were to put the total $80K towards their education, it would mean that he could retire earlier and not have to work as long in order to cover the remainder of their tuition. Landon and Alice were pretty frustrated with this idea!
His children proceeded to call him selfish for thinking of himself and his retirement and argued that their hard work in school should be enough to deserve at least some of the money from Evan and Anita.
“I told them that it wasn’t going to me, but to their education, and then yelled that they could pay for it themselves if they were going to be spoiled brats,” he added.
Do you think that his children are acting too entitled and should be more grateful, or do you think that he should have agreed to give them a portion of the money?
You can read the original post on Reddit here.
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