If You Had the Money Would You Buy Your Child a House?March 24, 2013 at 10:23 PM | Posted in gifts, housing | 5 Comments
Last week I asked my readers if they would accept a gift from their parents. I wrote the post after learning of a friend who is about to receive a beach home from his folks. I appreciate the honest comments and emails that were sent to me. I wonder if I shouldn’t have also asked the opposite question, which is would you buy a large gift for your children?
I stumbled across an interesting article this weekend about Mick Jagger who, despite his wealth, does not believe he should buy homes for his three adult children. According to a recent CNN article, “Those who know Jagger well — including his oldest daughter, Jade, say that he strongly believes that children ought not think themselves entitled to their parents’ money and that they have to make their own way in life.”
His daughter Jade went on to say, “I was never a trust-fund child. Dad’s got a healthy attitude toward work. You have to look after yourself.”
So what do you think? If you had a lot of money, like Mick Jagger, would you buy properties for your children?
I imagine my husband and I will amass quite a bit of wealth throughout our lifetime and I want my son to understand that a lot of hard work and planning went into our bank accounts. At this point in time I can’t imagine buying him a home. I want him to experience the joy and pride of making it on his own. I also don’t want him to think that life is a cake walk.