<p>“Financial matters were introduced into this thread not initially raised by the OP, who has stuck to his initial point of distance and security and sought advice from other parents in his parents’ generation… You seized upon the financials with a tone that is arrogant, condescending and would leave me feeling mighty beaten up, if I were in my 20’s.
So there’s a reality check for you.”</p>
<p>Have you read his posts? When I started responding it was with the thought that the parents actually had some money to present for college. They really don’t so I did spank him a bit. He needs to realize what’s being offered. Especially if this respresents progress over last year. </p>
<p>With all respects to you and nebcat, do the math for retirement. 30k in a 401k and 35 in equity are awful numbers for a 50 year old. They should not be offering anything. I’m in the retirement business and maybe you are too? You then know the score… it’s either time or money. Guessing by what little is there now, they haven’t been making a 6 figure wage. </p>
<p>Figure 15 years more working (provided you aren’t let go) and living until age 85. They have fifteen years left to cover 35 years of life left. They will carry a mortgage most likely into retirement (35k equity taint alot, in not a hot market state) and other debt. </p>
<p>I mean it is wonderful that they want to help with college, it really is, but they really don’t have money to do it AND have retirement income. As they close in on retirement would you have them place all their money in the stock market? They will need to protect what they have especially since they have no wiggle room for a down cycle, so a majority of retirement funds will be in the bond market, not the stock market. </p>
<p>I don’t know where the financials came from but yes, they did significantly change my pov about the poster. He shouldn’t be complianing about anything they are offerring because honestly, they are offering the food from their mouths down the road for him today. His daddy may not understand him and his desire to attend USC, but his daddy loves him. </p>
<p>What lays before him ISN’T uncharted territory, it’s been done before. I don’t mind if he gets a little ticked about things, because he needs to think and thank his parents for even offering a dollar. Because honestly, in finanical terms they shouldn’t. They aren’t doing what’s best for them by offering to help, they are doing whats best for him with what they can. Sorry, but the tone of his orginal posts takes a decided twist knowing a little more about the family finances. To ignore the family financials and present advice might make it nice, but it doesn’t make it truthful. </p>
<p>And we all have our condesending momments…</p>