starting line financially for a child

[bluewind7]

Hello.

What is the right attitude of a parent about starting line for a child financially?

I know example a) of a family who gave each of their child a couple of hundred thousands of dollars, but I also know example b) of a family who kicked their child to a street with almost no money at all.

I am interested in your opinions and possible pros and cons of both a) and b) cases.

Thank you.

My personal view is that my ‘parenting’ doesn’t magically stop once my kids turn 18 and are legally an adult. Our relationship will change as they age, but I can’t see my need to make their life as good as I can do ever going away - after I’m dead all my money will go to them, so if I have it to spare and they’re in need, I will want to give it to them to help them.

The above does assume that they’re making smart choices and aren’t on drugs/addicted to something. That I wouldn’t fund, because that’s not the best for them. I’ll support them emotionally, practically and financially in a way that I feel is right, but not blindly if that makes sense!

To answer your actual question (sorry!) I don’t think either a or b is a grand idea. Cons of a is they might not be mature enough to not blow it on drugs, sex and fun, and could end up broke and have a harder life than needed because all the money is gone. Cons of b are obvious, kicking a kid out with no money and nowhere to go is just bloody cruel, makes their start to adulting so much harder and scary than necessary.

Do you mean giving your child money or support when they turn 16/18/21?

Realistically few parents are going have "a couple of hundred thousands of dollars" for each child. Also, very few parents would kick their child out at 16/18/21 with nothing to support them and nowhere to live. The reality is somewhere in-between.

Most people are probably planning to support their children through university, or getting started in work, as much as their personal finances allow.