How Do I Tell My Teenager She Is Getting $1,000,000?
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Honestly, I'd wait until she's 17 just to get her prep up for it, but I'd start to teach her money management right now.
I would wait. Whats gonna happen is she will tell everyone at school and it will be an issue
5 years later: Hey dave remember that call 5 years ago? Well she blew it all.
My friend found out that same thing when she was a teenager. Do Not Tell Her.
While nothing can replace the loss of her mother, the $1 million(if managed correctly) will mean the girl can basically be financially free for the rest of her life.
Having too much money is a good problem to have. Teaching her to be financially literate and responsible should be a priority.
As an agnostic, I like how Dave let's his Christianity be know but doesn't impose it on others.
I have a friend who knows sheâs inheriting money and she refuses to work or be independent. Donât tell them the amount smh đ€ŠđŸââïž
Oh, and make sure she gets a job. Just because sheâll be a millionaire at 18 doesnât mean she shouldnât learn how to work hard.
Iâm glad the father has the financial literacy & understanding to inquire about the best way to bring up this blessing to his daughter. He definitely seems like a great father!
Caller: My Daughter is getting $1,000,000
âMy goal is not to raise good kids. My goal is to raise good adultsâ -Papa Dave
We had our kid do FPU at @17. At 18 we showed him his account. He freaked out and asked us to keep it safe for now. He s in a college free tuition on rice and beans and he s happy not to tiuch his house down payment. His choice.
To lose your mom in life, it's like losing 50% of your life.
I know a girl who was left a million dollars and she immediately moved to a apartment in Manhattan and traveled most of Western Europe. She pisses it away on nonsense. LoL
I inherited enough to retire comfortably at 45 years of age and I'm so glad I didn't come into that money at a young age because it would have been long gone before I turned 30.
Tell her about it when she's 15. Not the amount, just "there's money there for you to start your life properly"
"What's it invested in?"
I'd tell her when she's in high school and starts talking about what she wants to do with her life. She'll need to know she won't qualify for financial aid but will be able to afford to go where she wants and do what she wants. I had a college friend who received much more than this and it motivated him to be very successful because he felt a weight on his shoulders to use it responsibly.
The Father has the foresight to have a plan for his Daughter's future.