No. of Recommendations: 23
Am I reading this correctly? You charged your daughter rent at first, but now you don't, even though she has a job? Why not? I'm really curious.

Yes, we charged her rent in the beginning as she was working, and I wanted her to be accustomed to having to pay rent. We never intended to keep it, and will give it back to her at some point, but she does not know that.

She got laid off, and as we don't need her rent money, we told her that she could stop paying rent. When she went back to work, we told her that we preferred for her to put her "rent" money into her Roth or her taxable brokerage account so that she'd be saving for her future. We felt that was a better use for her money than to give it to us, since we would just be saving it anyhow.

If we thought she were financially irresponsible, then we would have continued to charge her rent when she got the next job, but that is not the case. She is very frugal, saves a ton, and we met our goal of knowing that she could move out and support herself because that discipline has been instilled.

She contributes to the household in other ways, and I enjoy her company with what little time I see her (she is working 2 jobs and does some significant volunteer work, so she's seldom home before I go to bed and she's gone before I get up in the morning).

This works for us. It may or may not work for others, but that has nothing to do with me.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.