Trust Fund Kid

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yitzchakdov
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Trust Fund Kid

Post by yitzchakdov » Sat Jul 09, 2016 6:11 pm

Looking for advice on dealing with a 23 year old son who dropped out of college in his senior year and now works minimum wage job and shares apartment with people he found on Craig's list. Behavior changed when he became aware that he is beneficiary of a million dollar trust. I know its not an investment question per se, but I invested 23 years in him and four years in his college tuition without any return and he has thrown his education and any possible career out the door. Any thoughts?

lgs88
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Re: Trust Fund Kid

Post by lgs88 » Sat Jul 09, 2016 6:18 pm

It sounds like he might benefit from finding a reason for living a full life other than money.
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livesoft
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Re: Trust Fund Kid

Post by livesoft » Sat Jul 09, 2016 6:19 pm

I personally know some young adults like this. The situations are not resolving themselves with any speed. I would just say, be happy and don't expect to change things for a couple of decades.
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Lafder
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Re: Trust Fund Kid

Post by Lafder » Sat Jul 09, 2016 6:20 pm

Does he have access to the money now and is it supporting him? How long could it support him at what sounds like a low expense life?

When did he find out? Have you talked to him about it?

He is also at an age where other things could be bigger factors such as substance use or other mental health conditions. You could suggest he see a therapist and he can work it through with them.

Maybe he is just sorting out his priorities and what he wants to do with his life in a meaningful way and now feels he has time to think it through.

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celia
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Re: Trust Fund Kid

Post by celia » Sat Jul 09, 2016 6:39 pm

yitzchakdov wrote:Looking for advice on dealing with a 23 year old son who dropped out of college in his senior year and now works minimum wage job and shares apartment with people he found on Craig's list. Behavior changed when he became aware that he is beneficiary of a million dollar trust. I know its not an investment question per se, but I invested 23 years in him and four years in his college tuition without any return and he has thrown his education and any possible career out the door. Any thoughts?
Let's put another spin on this. Some lucky young man inherited a fortune and dropped out of school until he figures out what to do with his life. He may return to his chosen career some day but also might want to rule out other possibilities he's thought about, but first needs to try them out. (I heard a recent news item that some unnamed lady won a lottery and quit her job to go after her "dream job", being a WalMart greeter. This could very well turn out good for her.)

I assume he doesn't have a wife or kids so it is easier to make changes like this when one is young. Give it time while he sorts out what he wants to do with his life.
Last edited by celia on Sat Jul 09, 2016 6:41 pm, edited 1 time in total.
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celia
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Re: Trust Fund Kid

Post by celia » Sat Jul 09, 2016 6:40 pm

duplicate
A dollar in Roth is worth more than a dollar in a taxable account. A dollar in taxable is worth more than a dollar in a tax-deferred account.

Dimitri
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Re: Trust Fund Kid

Post by Dimitri » Sat Jul 09, 2016 6:49 pm

MYOB (Mind your own business). He is an adult. Regret that the trust wasn't designed to prevent this sort of thing. Be happy that he is still single and doesn't have any offspring.
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Re: Trust Fund Kid

Post by tontot » Sat Jul 09, 2016 6:52 pm

Modify the trust to give him an allowance matching his income annually.

So give him some incentive to work to earn that million
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Re: Trust Fund Kid

Post by gd » Sat Jul 09, 2016 7:14 pm

Return on investments is an interesting phrase in this context. It can be followed down all sorts of moral and philosophical trails concerning expectations and responsibilities of parents and children. I'd pursue some of those before doing or saying much.

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Re: Trust Fund Kid

Post by jjface » Sat Jul 09, 2016 7:18 pm

1. He is an adult so you have nothing to deal with.

2. Kids are not investments. In any case yields are pretty low right now across the board.

3. He has come into money. Be glad he isn't spending all he can. Be glad it is in a trust and not all available to him. He may simply be taking stock of his fortune and taking time to decide what to do with his life. He may feel he needs a break from school and other pressures.

Heck if I was him I'd be traveling around the world now - would that upset you too?

I say give him a bit of breathing space and give him a kick if he is still doing nothing in a few years time.

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Re: Trust Fund Kid

Post by Meg77 » Sat Jul 09, 2016 7:29 pm

A lot depends on the terms of the trust and when/how he can access the funds. Most trusts, especially those with minor beneficiaries (I assume this trust wasn't just put into place) have parameters to try to control for these types of situations. You only get x% at y age; you only get funds when you graduate from college or marry, you only get a small percentage of the interest annually, etc. If you can amend the trust, make it so he has to graduate and hold a job or whatever else you want to demand in order for him to access funds.

If there are zero provisions and he gets $1M to control then there is nothing you can do but watch his life unfold and hope he has the sense to turn it around and make something of himself one day. He may flounder and blow all the money, but what do you expect when you hand a 23 year old $1M? Be glad he doesn't have a drug habit that this money could really blow up.
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Re: Trust Fund Kid

Post by Dimitri » Sat Jul 09, 2016 7:35 pm

Thinking about this again --- you should give serious consideration to the fact that he is working a ...
yitzchakdov wrote: minimum wage job and shares apartment with people he found on Craig's list.
Give me $1M+ at age 23 and I would have gone to Bangkok and had a real good time. Your son should certainly be having a much better time. Figure a short-time rate of 2,000 Baht and a bar fine of 600 Baht (app. $74 USD combined). Pretty nominal for someone with a $1M+ trust. I can understand why you are worried.
Last edited by Dimitri on Sat Jul 09, 2016 7:57 pm, edited 1 time in total.
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Re: Trust Fund Kid

Post by Gill » Sat Jul 09, 2016 7:40 pm

tontot wrote:Modify the trust to give him an allowance matching his income annually.

So give him some incentive to work to earn that million
It doesn't appear the OP had anything to do with establishing the trust.
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reriodan
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Re: Trust Fund Kid

Post by reriodan » Sat Jul 09, 2016 7:43 pm

Wow, if that happened to me I would have done the exact same thing, except the working part. Sorry for the loss of your "investment" lol.

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Re: Trust Fund Kid

Post by mac808 » Sat Jul 09, 2016 7:44 pm

He could be a thoughtful kid productively using this windfall to pause the treadmill and search for his true passion in life. But I'm assuming that based on what you know you fear the opposite. The devil is in the details. Help him understand that a 23 year old's SWR is likely around 3% (ignoring trust fees and poor investment choices). No matter what, that should help him put the amount into context. And perhaps some counseling to help him understand that for the vast majority of human beings on earth, life satisfaction is derived from achievement and achievements require some amount of planning and execution (a.k.a. ''work'').

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TxAg
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Re: Trust Fund Kid

Post by TxAg » Sat Jul 09, 2016 7:46 pm

I don't have any advice, but I disagree with the other posters...I would be worried.

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Re: Trust Fund Kid

Post by delamer » Sat Jul 09, 2016 7:51 pm

Is he actually receiving income from the trust now? Do you have any control over the trust disbursements?

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Re: Trust Fund Kid

Post by student » Sat Jul 09, 2016 7:55 pm

I would be worried too.
Last edited by student on Sat Jul 09, 2016 8:24 pm, edited 1 time in total.

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Re: Trust Fund Kid

Post by in_reality » Sat Jul 09, 2016 8:41 pm

Dimitri wrote:I'm more worried that he is wasting his time working a minimum wage job and living with people he found on Craig's List. He can certainly do much better. SWR of 3% on $1M should be more than enough in BKK.
I wouldn't underestimate the possibility of an interest in the fortunes/circumstances of those with a different socio economic background. Sometimes individual differences are interesting. How to steer this productively? I don't know.

If he does want to go overseas, having a degree will help get English teaching employment.

Whatever his goal is, that degree will help.

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Re: Trust Fund Kid

Post by LarryAllen » Sat Jul 09, 2016 8:44 pm

Assuming you have no control to legally change the trust you might mandate that he converts it to you as trustee (likely something that can be done). You can mandate this by telling him you'll disinherit him from your own trust if he doesn't modify the $1mil trust. Hopefully then you can be in charge of the money and reduce the distributions while he finds himself.

The "good news" is the most likely worst case scenario is he blows the money in 10 years and has to get a start then. It's not the end of the world. Yes it sucks but as long as he avoids a severe drug habit it could always be worse.

Good luck.

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Re: Trust Fund Kid

Post by Gill » Sat Jul 09, 2016 8:47 pm

LarryAllen wrote:Assuming you have no control to legally change the trust you might mandate that he converts it to you as trustee (likely something that can be done). You can mandate this by telling him you'll disinherit him from your own trust if he doesn't modify the $1mil trust. Hopefully then you can be in charge of the money and reduce the distributions while he finds himself.

The "good news" is the most likely worst case scenario is he blows the money in 10 years and has to get a start then. It's not the end of the world. Yes it sucks but as long as he avoids a severe drug habit it could always be worse.

Good luck.
I suspect neither of them have control of the trust.
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Re: Trust Fund Kid

Post by aeronina » Sat Jul 09, 2016 10:14 pm

Keep talking to him. Do your best to keep lines of communication open no matter what. Remind him that you will care for him (and also that his mother, any brothers and sisters, as well as grandparents all care for him). Remind him that almost all people change their minds about a lot of things in the 20's and that it's alright to try different things. Above all, be supportive and show him you really care, whether he has money of his own or not, and whether he uses it wisely or not.

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Re: Trust Fund Kid

Post by black jack » Sat Jul 09, 2016 10:40 pm

This board has many people angling to retire as soon as possible - and often throw their own education away in the process (physicians retiring at 50, really?) - in order to enjoy life, but this young fellow - who hasn't even retired, just taken a job whose pay is below his prospects - is getting a lot of second-hand criticism. Envy, or are all the ER advocates out partying instead of posting?

Since none of us - apparently including the OP - have enough information to make an intelligent assessment of the situation, our answers reflect our own stance toward the world. Mine is similar to that of Celia (and Dmitri :sharebeer ):
celia wrote:
yitzchakdov wrote:Looking for advice on dealing with a 23 year old son who dropped out of college in his senior year and now works minimum wage job and shares apartment with people he found on Craig's list. Behavior changed when he became aware that he is beneficiary of a million dollar trust. I know its not an investment question per se, but I invested 23 years in him and four years in his college tuition without any return and he has thrown his education and any possible career out the door. Any thoughts?
Let's put another spin on this. Some lucky young man inherited a fortune and dropped out of school until he figures out what to do with his life. He may return to his chosen career some day but also might want to rule out other possibilities he's thought about, but first needs to try them out. (I heard a recent news item that some unnamed lady won a lottery and quit her job to go after her "dream job", being a WalMart greeter. This could very well turn out good for her.)

I assume he doesn't have a wife or kids so it is easier to make changes like this when one is young. Give it time while he sorts out what he wants to do with his life.
$1 million is not all that much for a 23-year-old facing another 60+ years of life. At some point, I suspect a spouse may spark the young man's avarice back into life, if he is truly deciding to just coast for a while.
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Re: Trust Fund Kid

Post by nyknicks4412 » Sun Jul 10, 2016 12:05 am

I'd be booking a one-way ticket to Indonesia to surf my life away...$1 million isn't a lot but it sure can do better than craigslist friends and a job at pizza hut.

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Re: Trust Fund Kid

Post by pascal » Sun Jul 10, 2016 12:39 am

You should probably talk to him on what his future plans are.

The fact that he is working and sharing living expenses suggests that he is thinking this out and needs some space figuring what he wants to do with his life. He might have figured working in his current major is not terribly important now that he already has 1M.

If he coasts for another 10 years on said job the trust fund could be worth 1.8M+. He must have done some calculations :dollar
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Re: Trust Fund Kid

Post by HopeToGolf » Sun Jul 10, 2016 4:28 am

Without being judgemental, try to talk to him about his plans. There are plenty of college graduates who can't find employment in their field and end up in minimum wage jobs. The fact that he dropped out and in one such job is not surprising especially when he could be doing nothing instead.

How many credits until he earns his degree? If possible, find out how long the credits are good for and if he only has a few classes to go, encourage him to finish after his sabbatical. Maybe he will discover his passion during this time and can use some of the credits earned toward a degree in that field. I know someone who got a specific degree in order to be employable and she regretted it for a long time. If she didn't have pressure to make a living she would have studied something else. Maybe your son is in this situation and he found a way out.

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Re: Trust Fund Kid

Post by halfnine » Sun Jul 10, 2016 5:52 am

It's their money, but as a parent I'd probably tell them what I'd tell anybody else.

- If you spend more than 3% a year it is not going to last you
- if you get married and have kids plan on having a lot less
- it's inherently greedy to receive more than you give so you'll need to make the money work for you in order to pass on a legacy and inheritance for your own kids.

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Re: Trust Fund Kid

Post by Dopey » Sun Jul 10, 2016 5:56 am

TxAg wrote:I don't have any advice, but I disagree with the other posters...I would be worried.
I agree. Surprised how many "laid back" posters came out of the wood work.

I would definitely stop any and all support obviously. Beyond that, nagging is probably counterproductive. He's most likely going to need to hit bottom before he gets a fire under his butt. And if he gets there million before that, the fire may never come.

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Re: Trust Fund Kid

Post by MrNewEngland » Sun Jul 10, 2016 6:05 am

What's the worst that could happen? He loses it all? That would suck and he'd be forfeiting a massive advantage that few have, but then he'd go back to school with a fresh start and a new perspective. He'll regret it in the future but it's his choice.

Full disclosure: I don't have kids so I am lacking empathy for being in this situation.

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Re: Trust Fund Kid

Post by fredflinstone » Sun Jul 10, 2016 6:45 am

This young man is living within his means. I fail to see a problem. Isn't that what Bogleheads are all about -- living within one's means.

There is nothing inherently wrong with a minimum wage job, especially for a young person (with or without a college degree).

If he's unhappy, then there is a problem. It doesn't sound like he's unhappy.

If this young man can find satisfaction in life through avenues other than climbing the career ladder, I say good for him.

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Re: Trust Fund Kid

Post by cadreamer2015 » Sun Jul 10, 2016 7:00 am

Just wondering how one "becomes aware" at age 23 that one is the beneficiary of a million dollar trust? Perhaps this an argument for disclosing the existence of trusts like this to the future beneficiaries early rather than late.

It's one thing, of course, if this is a testamentary trust which was just created by the death of the grantor. But even in that case the end result might have been better if the grantor had communicated something to the beneficiary and his parents long before death.

I remember the line in the movie "The Descendants" which is a paraphrase of a Warren Buffett quote: leave/give your kids enough money so they can do anything, but not enough so they can do nothing.
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Re: Trust Fund Kid

Post by 10YearPlan » Sun Jul 10, 2016 7:17 am

Maybe I am a terrible person, but I, too, care about ROI. Not so much ROI for ME as the parent, but ROI for the kid and their future children. You spend countless hours, and money, to get your kids to have it better than you do and to have that squandered, without knowing whether it is temporary or not, is distressing. So, I feel you, OP.

I have no solutions other than I'd not give up yet. Having a trust fund probably does screw around with your brain a bit, but hopefully with continued guidance, he'll see the light.

student
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Re: Trust Fund Kid

Post by student » Sun Jul 10, 2016 7:28 am

10YearPlan wrote:Maybe I am a terrible person, but I, too, care about ROI. Not so much ROI for ME as the parent, but ROI for the kid and their future children. You spend countless hours, and money, to get your kids to have it better than you do and to have that squandered, without knowing whether it is temporary or not, is distressing. So, I feel you, OP.

I have no solutions other than I'd not give up yet. Having a trust fund probably does screw around with your brain a bit, but hopefully with continued guidance, he'll see the light.
I agree. I also think the ROI is for OP's son and not for himself/herself.

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Re: Trust Fund Kid

Post by Dopey » Sun Jul 10, 2016 7:57 am

10YearPlan wrote:Maybe I am a terrible person, but I, too, care about ROI. Not so much ROI for ME as the parent, but ROI for the kid and their future children. You spend countless hours, and money, to get your kids to have it better than you do and to have that squandered, without knowing whether it is temporary or not, is distressing. So, I feel you, OP.

I have no solutions other than I'd not give up yet. Having a trust fund probably does screw around with your brain a bit, but hopefully with continued guidance, he'll see the light.
Completely agree. I'm not necessarily the first in my family to get to college, but I still had limited options based on finances. I went to the big state school which was fine and I'm grateful, but it's my goal to open up additional opportunities to my children.

I don't understand friends of mine who had their college paid for who are fine letting their children fend for themselves when paying for college while the parents rack up consumer debt buying toys.

Anyway, i don't think the OP meant this comment in a selfish way at all.

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Re: Trust Fund Kid

Post by amateurnovice » Sun Jul 10, 2016 8:43 am

Que sera sera

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Re: Trust Fund Kid

Post by livesoft » Sun Jul 10, 2016 8:47 am

Yes, there are many many worse things that can happen to one's children and they don't have to involve a trust fund. So be thankful and tell your son that you are thankful.
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Re: Trust Fund Kid

Post by cherijoh » Sun Jul 10, 2016 9:03 am

A good friend of mine has 3 stepsons. All three had an opportunity to go to college (but no trust funds). They are now young adults - one graduated from college and is using his degree, the second is career military, and the third is a college dropout working as a waiter and a ski instructor in the winter and barely supporting his wife and 2 kids. Go figure.

The point of my post is that this might have happened even without the trust fund.

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Re: Trust Fund Kid

Post by LadyGeek » Sun Jul 10, 2016 9:12 am

This thread is now in the Personal Finance (Not Investing) forum (spending guidance).

Please stay focused on the financial aspects.

Also: We maintain a "family-friendly" environment - things you can say in front of the little ones. Not just for language, but for the subject content. I removed an off-topic post which was intended for "adult" readers.
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Re: Trust Fund Kid

Post by jjface » Sun Jul 10, 2016 9:54 am

student wrote:
10YearPlan wrote:Maybe I am a terrible person, but I, too, care about ROI. Not so much ROI for ME as the parent, but ROI for the kid and their future children. You spend countless hours, and money, to get your kids to have it better than you do and to have that squandered, without knowing whether it is temporary or not, is distressing. So, I feel you, OP.

I have no solutions other than I'd not give up yet. Having a trust fund probably does screw around with your brain a bit, but hopefully with continued guidance, he'll see the light.
I agree. I also think the ROI is for OP's son and not for himself/herself.
Sounds like you would be upset because it was not your money that made him have it "better than you do".

I can understand being disappointed if my son does not use his new found freedom to better himself and the world. However I would not be disappointed that he does not pursue a career he doesn't need or want all to make money he doesn't need. So my return of investment would be about whether he is happy, whether he learnt life skills, whether he is going to serve society rather than sit at home eating pizza in front of the tv in his pjs all day. He at least has a job and has friends and seems happy. I am not sure if I would complain too much about that. Everyone is different and like many have said the OP's son may have been lile that without the trust fund.

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Re: Trust Fund Kid

Post by delamer » Sun Jul 10, 2016 10:04 am

I am interested to hear more from the OP.

Is his son getting money now from the trust and using the minimum wage job to supplement the trust income, which combined are enough to live a simple life that he enjoys?

Or is he using the minimum wage job to carry him over until he can get access to the trust money, at which time he is going to live high-on-the-hog until the trust is gone?

I wouldn't be happy about my son dropping out of college in either scenario, but the second is a lot more problematic than the first.

Or is there something else going on?

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Re: Trust Fund Kid

Post by student » Sun Jul 10, 2016 10:13 am

jjface wrote:
student wrote:
10YearPlan wrote:Maybe I am a terrible person, but I, too, care about ROI. Not so much ROI for ME as the parent, but ROI for the kid and their future children. You spend countless hours, and money, to get your kids to have it better than you do and to have that squandered, without knowing whether it is temporary or not, is distressing. So, I feel you, OP.

I have no solutions other than I'd not give up yet. Having a trust fund probably does screw around with your brain a bit, but hopefully with continued guidance, he'll see the light.
I agree. I also think the ROI is for OP's son and not for himself/herself.
Sounds like you would be upset because it was not your money that made him have it "better than you do".

I can understand being disappointed if my son does not use his new found freedom to better himself and the world. However I would not be disappointed that he does not pursue a career he doesn't need or want all to make money he doesn't need. So my return of investment would be about whether he is happy, whether he learnt life skills, whether he is going to serve society rather than sit at home eating pizza in front of the tv in his pjs all day. He at least has a job and has friends and seems happy. I am not sure if I would complain too much about that. Everyone is different and like many have said the OP's son may have been lile that without the trust fund.
Based on what OP said, dropping out of school in senior year when he realized about the trust fund, I would conclude that the trust fund is the triggering event. If he is happy with getting a minimum wage job and living with roommates, he could have done it without going to college. It would be less of an issue if the kid finishes college and then go do his thing. He is in his senior year.

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Re: Trust Fund Kid

Post by jjface » Sun Jul 10, 2016 11:38 am

student wrote:
jjface wrote:
student wrote:
10YearPlan wrote:Maybe I am a terrible person, but I, too, care about ROI. Not so much ROI for ME as the parent, but ROI for the kid and their future children. You spend countless hours, and money, to get your kids to have it better than you do and to have that squandered, without knowing whether it is temporary or not, is distressing. So, I feel you, OP.

I have no solutions other than I'd not give up yet. Having a trust fund probably does screw around with your brain a bit, but hopefully with continued guidance, he'll see the light.
I agree. I also think the ROI is for OP's son and not for himself/herself.
Sounds like you would be upset because it was not your money that made him have it "better than you do".

I can understand being disappointed if my son does not use his new found freedom to better himself and the world. However I would not be disappointed that he does not pursue a career he doesn't need or want all to make money he doesn't need. So my return of investment would be about whether he is happy, whether he learnt life skills, whether he is going to serve society rather than sit at home eating pizza in front of the tv in his pjs all day. He at least has a job and has friends and seems happy. I am not sure if I would complain too much about that. Everyone is different and like many have said the OP's son may have been lile that without the trust fund.
Based on what OP said, dropping out of school in senior year when he realized about the trust fund, I would conclude that the trust fund is the triggering event. If he is happy with getting a minimum wage job and living with roommates, he could have done it without going to college. It would be less of an issue if the kid finishes college and then go do his thing. He is in his senior year.

But one of the purposes of going to college is to get a better job to make better money. Trust fund comes along and the op's son doesn't need a better job so doesn't need college. Sure it is a waste to drop out near the end and I'm sure he would have never gone to college if the trust fund was there at the beginning! However if you don't need it or want it then there is reason not to continue as well. He may very well have been miserable or failing..
Last edited by jjface on Sun Jul 10, 2016 12:04 pm, edited 1 time in total.

southbay
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Re: Trust Fund Kid

Post by southbay » Sun Jul 10, 2016 11:51 am

yitzchakdov wrote:shares apartment with people he found on Craig's list
on this point, this is VERY normal behavior for a 23 year old. what's unusual about having roommates?

afan
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Re: Trust Fund Kid

Post by afan » Sun Jul 10, 2016 11:53 am

aeronina wrote:Keep talking to him. Do your best to keep lines of communication open no matter what. Remind him that you will care for him (and also that his mother, any brothers and sisters, as well as grandparents all care for him). Remind him that almost all people change their minds about a lot of things in the 20's and that it's alright to try different things. Above all, be supportive and show him you really care, whether he has money of his own or not, and whether he uses it wisely or not.
This.

You don't understand his decisions, so talk to him. He is doing the exact opposite of blowing the inheritance. Sounds like he is not spending it at all. Better he figure out what he wants out of life than waste more time on college if he is not getting anything out of it.

Give him space and support.

We have "invested" in our kids to help them live healthy and we hope happy lives. The money is a means to an end, not the goal itself.
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either | --Swedroe | We assume that markets are efficient, that prices are right | --Fama

livesoft
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Re: Trust Fund Kid

Post by livesoft » Sun Jul 10, 2016 11:56 am

I know someone who didn't have a trust fund, finished college, but never worked a day in their life since. They simply got married and had a bunch of kids. Their parents were proud of that accomplishment. It actually didn't even matter that they went to college because they never did anything with that degree anyways.
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southbay
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Re: Trust Fund Kid

Post by southbay » Sun Jul 10, 2016 12:05 pm

livesoft wrote:I know someone who didn't have a trust fund, finished college, but never worked a day in their life since. They simply got married and had a bunch of kids. Their parents were proud of that accomplishment. It actually didn't even matter that they went to college because they never did anything with that degree anyways.
so a stay at home parent shouldn't bother to go to college and get an education? raising kids is not work?

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HomerJ
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Re: Trust Fund Kid

Post by HomerJ » Sun Jul 10, 2016 12:07 pm

Could use more details...

Is he getting money now from the trust fund? Or is he just coasting until he gets access to it at 25 or 30 or something?

Who set it up? Is it possible to change the terms?

livesoft
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Re: Trust Fund Kid

Post by livesoft » Sun Jul 10, 2016 12:11 pm

southbay wrote:so a stay at home parent shouldn't bother to go to college and get an education? raising kids is not work?
LOL! If that's your interpretation, then I feel sorry for you. I was describing my mother.


It is fascinating to read about the first time a child severely disappoints a parent. It is also fascinating to read about the first time a child has been disappointed by their parent. Everybody is disappointed many times in their lives by other people close to them and they also disappoint many times other people close to them. It is part of being human.
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HomerJ
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Re: Trust Fund Kid

Post by HomerJ » Sun Jul 10, 2016 12:15 pm

southbay wrote:
livesoft wrote:I know someone who didn't have a trust fund, finished college, but never worked a day in their life since. They simply got married and had a bunch of kids. Their parents were proud of that accomplishment. It actually didn't even matter that they went to college because they never did anything with that degree anyways.
so a stay at home parent shouldn't bother to go to college and get an education? raising kids is not work?
Raising kids is work. It does seem to be waste of money to get a college education and never use it.

Leave the stay-at-home-parent part out of it. That's pushing your buttons, but that's not the main point. If my kid went to law school, spent or borrowed $80,000 to get a law degree, and then got a job bagging groceries, I would indeed consider that a waste of money and education.

If you just want to be well-rounded and educated, there are plenty of books at the library. Worked for Benjamin Franklin.

southbay
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Re: Trust Fund Kid

Post by southbay » Sun Jul 10, 2016 12:18 pm

livesoft wrote:
southbay wrote:so a stay at home parent shouldn't bother to go to college and get an education? raising kids is not work?
LOL! If that's your interpretation, then I feel sorry for you. I was describing my mother.
that is how it sounded to me, yes.

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