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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127886  
Subject: Re: Mortgage: How much to help a kid? Date: 7/3/2006 1:51 PM
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They've graduated over 18 months ago.

They're both smart, both attorneys. Both hardworking. However, we really counselled my sister to enter the business world, where she'd blow away senior partner money easily. She insisted on law. Her husband is a good guy, and will be a good lawyer...but his upbringing lacks the "go get em" mentality, or greed if you will.

They made some wrong career moves early on, some of it not their fault, long story...which is why they've not built up a bank.

Sounds like they may not listen to advice well, so if you still plan on giving them money, don't plan on giving any advice - be prepared to let your money go.

They've got about $15,000 in bank, plus they max 401k contributions.

We've watched them live together, and their budgeting and responsiblity is great. ZERO credit card debt, NO frills whatsoever.

This sounds like they're getting on the right track.

The big mortgage will only make budgeting tighter....but will ALSO "kick him in the butt" to be more ambitious, and while my sister is very smart, has a great future ahead of her...a continued austere lifestyle will force her ego to accept more new ideas, career alternatives, etc etc etc.

If this is the outcome you are hoping to have, you will give him more of a 'kick in the butt' and her more thinking to do about career alternatives if you don't contribute.

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