4 ms·
I’m trying hard to save enough for my son so he can be FI when he enters college (If he chooses to). I want him to have the choices I never had - not to spoil b
by mrhappyunhappy 8y ago
I’m trying hard to save enough for my son so he can be FI when he enters college (If he chooses to). I want him to have the choices I never had - not to spoil but pursue any path he desires without the mounting pressure of having to earn an income. I know this could go wrong if not done right so I hope to do it right by planning far in advance.
- mooreds 8y agoThat's very interesting. I feel like being handed FI at a very young age could go either way. Either he realizes what a gift he's been given, or he squanders it because he doesn't. I don't think that I would have appreciated it at that age myself. Of course, it's your choice to make (and I definitely don't know your situation or your son's situation), but it seems to me that a big part of FI is the mindset, not the money, and I'm not sure you can acquire the mindset without going through the frugal living.
- mrhappyunhappy 8y agoSure. My goal is to instill the mindset far in advance of handing down any sums of money. Basically, if I don’t observe the type of behavior I’m looking for such as managing your own finances in an intelligent manner, I’ll probably do something else with that money or just let it accrue interest until he is ready.