Rather, 5 years to teach her ways to make good use of the money. If you teach someone to be afraid they will instead not touch the money at all even when it is in their hands
@@nightwings8984probably cars, fun frivolous stuff. I have a buddy who had a similar situation. A corvette, a couple jeeps, and many vacations with his now wife later, it was all gone.
My dad passed away when I was 9. When I turned 18, an account with $45,000 available suddenly showed up in my online banking. I ran through it in about a year. I came from a poor family and suddenly I could buy all the crap I wanted. Don’t be like me.
Teach her now! She'll have a lot of family with their hands out and she can end up losing it all too quickly. My father passed and I went from $120k to zero in months and all my family with their hands out are all gone and living their lives. Don't let her end up like me! Teach her better beforehand
My grandson has something similar. I put it in a trust. He only gets the dividends each year once he's 18 until he's 35, except for education or purchasing a house. If money from the trust buys the house, the house must be put in the trust. Taxes will be paid by the trust. It protects him against his youth and people who may manipulate him.
If it’s a trust solely for one beneficiary, they can potentially just wind it up if they’re 18 and of sound mind. (In Australia) Also, if it’s been left to the daughter, it might be legally required to be paid directly to her when she turns 18…? 🤷🏼♀️
Don't tell her, but do start educating her on finances. She'd need to be relatively advanced level at 18, so having a plan for her is critical, or it could be very destructive to her future.
I agree. 13 is way too young to have that knowledge floating around in their adolescent brain. I used to teach middle school and somebody’s gonna tell the secret and then tell them not to tell the secret and then so on. Middle schoolers talk… a lot!
Totally agree. If I knew I had a million dollars waiting for me I would have been much less motivated to plan for the future. Educate her on finances and help her plan for her future
@@nathandennis8078she could tell other students and they could be robbed or killed, she could have little motivation for the future, or she could even beg for it to be hers now. It’s not a good idea
I once remember seeing an interview with a former child actor. I don't remember who it was. He said his mother would drag him to meetings with their financial advisor. She told him that she wanted him there so that he would learn what was being done with his money and what he needed to know to manage it himself when he grew up. He said at the time he didn't like going to the meetings, but in hind sight that was the best thing his mother could have done for him.
@@mrn7356 That’s not even 6 months of spending assuming you meant $200k (and not $2000k, which is double what she’ll inherit). Nobody needs $200k a month at 18. She’ll be fine with $1-2k at most. The rest can be invested.
My step aunt saved all social security money for her daughter after the daughter lost her dad. At 18, the girl got all money, bought a brand new car, let boyfriend drive it and wreck it. No money. No car. Financial education! Some kind of trust if you can.
You can actually have your SSA benefits suspended for saving it like that. My daughter also receives death benefits and this is one of the first things they told me.
That SS money is for the guardian to provide for the child. It's nice that she set it aside for her but I would have set it up in a trust with very strict regulations.... Modest first Car House downpayment.... Etc.... Then give her full access way, WAY down the road!
I was sorta like this. My mum took option C - Made sure I worked and saved before buying from 10-13 or so, then told me about it around 14 and started educating me on finance and what to do with it. It worked. Got a great leg up and a comfy life 20 years later.
My friend was in a similar situation. He groomed his daughter along the way. She had realistic expectations for that money by age 18 and is doing well for herself.
His concern should be to be a better father. If she can't make good decisions in the next 5 years, she's got bigger problems. Like he said, the money is hers.
I wouldn’t tell her yet. My youngest daughter is excellent with her money and it’s due to her seeing my ex and I struggling with our finances. She’s determined not to live that life herself. I couldn’t be more proud of her!
Had a friend who got close to 100k when he turned 18 from his grandma to "set him up and get him started". He went travelling. Expensive parties, coke, girls... The money was gone in a year lmao But on the other hand I guess he had a hell of a time
I at one point had about 3 bitcoin, had I held onto it until it reached its peak I’d have made like 200k, instead I sold it gradually and maybe made a total of 20k. I am probably pretty fortunate I sold it when I did cause I have no idea what I’d have done with that kind of money
Tell her about it. Don’t tell her about how much is in it though. And more importantly use these 5 years to teach her as much as you can about long term wealth and investing, if you’re a good dad (which it already seems like you are) she’ll turn back to you when she can actually make the adult decision to spend or use it and ask you to help her to that wisely. My dad did this for us and I’m extremely grateful I understand $$ as well as I do at 28.
I know two people who got large settlements as teens. Both spent it all on drugs and one died from his addiction. Idk what Ramsey recommended here, but a trust is probably the solution here if it’s at all feasible.
They should reveal Dave's response They have a stupid mind set on RUclips. They like asking questions but never bother to answer the questions they ask.
That's what the link on the short is for... So that if you're interested, you can watch the whole question and answer. If not, you only wasted your time on the short and can move on...
@thomaskraus5125 very easy solution for you. Click the second line between the channel name and the short's title, where the play triangle is. |> How Do I Tell My Daughter.... You will find exactly what you are looking for.
We started with monetary gifts our kids got- before they knew what it was, it all went into mutual funds, after they knew they got to keep half and half went in the funds. Now they are teens, they decide how much goes in. That money has bought cars, paid for college classes, trips to DC with school, and other things. Teach them early to help them as they get older. We are not wealthy, but we got good advice from others who were.
One, this is an actual father asking for advice. I for one would say do not tell her, or anyone else for that matter unless you fully trust them. Two, make sure she takes a business class/financial class. Teach her in the meantime about good work ethic and saving for rainy days. Teach her the ropes in investing and hopefully all will be well in her and your future.
Don't tell her about this else she would become careless about her future. Educate her for 5 years about finance and help her build a business to grow that money even further.
By the time the daughter is 18 that money could double.. With $2 mil she could live off 5% of the earnings on that balance easily ($100,000 per year) for the rest of her life.. At 5% the amount invested should continue to grow and therefore the $ amount of 5% continue to grow over time too..
Anyone who has money should invest in real estate 100% of the time. Never save ur money enless it’s for emergency funds. Renting ur property is the #1 way to get rich and stay rich.
@@Carolbaskin23no. Real estate investing is for people that are interested in real estate investing. Stocks are much better for the average person. A stock portfolio can even include real estate (REITs).
My neighbor told her son that he was getting a quarter million at 18 from his dad passing away. She told him this when he was like 13, he never tried in life. His response to everything would be some form of I’m going to be rich when I turn 18 lol
Don't tell her. She's too young. I'm single and in my will my estate goes to my niece and nephew with the stipulations that they will get their share at 18 if they further their education. If they decide not to go to school, they will receive their settlementst 25.
Mine is tied to their income and negative drug tests. If they don't work no money. If they are working they get 50 cent to every dollar. If they have medical issues verified by 3 independent doctors the distributions changes.
@@eileenwatt8283 I hope you set it up so that the trust covers the medical fees because if they're that desperate they won't be able to afford three independent doctor visits.
I don’t have children but my two adult nieces who are in their early 20s are my beneficiaries with the understanding that once they complete university, the funds will go to pay off their education, and if they don’t go to university, the funds are set aside for them to begin a business
I had mutual funds worth $100k turned over to me when i was 18. I spent none of it until i was 25 and took out the small down payment on my $135k house. I spent none of it again until i bought another house in 2019. I've spent none of it since then and right now it's worth about $85k (I'm now 36). Everyone i know is completely baffled that i never spent it all. My sister spent all of hers. To be, it was never an option. I knew what that money was doing for me. I just pretended like it never existed.
@@coryjohnson2486now this is discipline, for me i have planned my life never to receive any inheritance from my father if he passes on. I will push on my own
Tell her and involve her in the financial decisions. Not only tell her, but ask her opinion. That way she will be able to learn by example and maybe not waste everything at once.
I got in a car accident at 16, the settlement cleared by the time i was 19, it was quite a bit. I blew through it by the time i was 21.. i wish that someone would have helped me or educated me because i would have been much more financially stable as a 36 year old now. It allowed me to move and start a career, but i could be in a better place now if i would have utilized it better.
That’s funny, by 19 I had finished university and owned my first used home which I bought for $23,000 as well as a used car purchased for $10,000. I did it all on my own - how I would’ve loved to have the boost up that you did yet you blew it all.
You just wouldn’t hear ppl , we all have phones we can research what to do or ask ppl if you wait for ppl to tell you what you should do we know won’t work simply because you want to do what you want to do.
That’s such a bummer :( Trusts can be set up that grants access early upon approval (like assistance with down payment, paying off student loans), or no access at all, then then release the funds staggered over years. Like 1/3 of the trust at 30, Half the remainder at 40, and then the rest at 50, etc.
I am guessing this was a payment for insurance. He can do nothing about when or how she gets it. If he has set it up I should think he would have spaced out the payments or set it up to give her an income.
I have a friend who got about half of that at 18 from the loss of her father. By 30 I believe it was all gone. Education is hugely important in this situation. My friend should have been set up to retire at 65 with $30 million from that money, but instead...zero.
Financial education should start very young. I started educating my daughter at around 5 yrs old. She owned her first home by age 23 with an 800 plus credit score. She is very financially savvy.
My best friend’s mom worked at a bank and her dad was a teacher so money was always tight for the family of 5 but my friend started a paper route when she was in elementary school and continued it through high school. Her parents invested that money and gave her a small portion of it as allowance to use as walking around money in HS. Both of her parents are now deceased, and left her some money - I don’t know how much, but it wouldn’t have been a lot. She put herself through nursing school at age 30 and stayed at the same job for 20 years so she maxed out on their matching pension plan. She also lived in a house built in the early 70’s and renovated it as she could afford - it’s still not done and she’s been in that house for over 20 years. She just turned 54 and is now retired. She lived within her means and now enjoys the fruits of her spoils. Don’t get me wrong, because even though she lived frugally, she was still able to travel frequently and eat well.
No, it’s not but parents die and often leave their children with nothing so a little bit of money towards her financial future won’t bring her mother back, but it also means she won’t have to struggle and can afford a university education or to start a business which is a lot better than a lot of people get.
i deliberately used to speak openly (to my wife) about our finances and the rationale for doing what we’re doing. my wife used to be bored out of her gourd an asked me why i did this. i told her “you didn’t notice i usually do it when our daughter is around and listening?” 😂😂
Same thing happened to me , but my dad didn’t tell me until I turned 40 so much built up resentment!! And I been married since I was 19 raising a family going through struggles.
I'm so sorry...that's inappropriate of your dad. You could have used that money to help you survive. I'm wondering if he thought that the guy you married would only marry you for the money, and wanted to make sure you married for love?
@@adamkorekach9936 because he would give small amounts here and there , when I would desperately need it and made it seem it was coming from his personal funds . And most times I would have to pay it back .
@@jasonherrera3525WOW…. He gave you money that was due to you and you had to pay it back? So was the amount you paid back still included in what you received at 40? That is awful.
Teach her financial responsibility but surprise her with it. You don't want her slacking off in her early teen years thinking she's going to win a jackpot at the end of high school.
Get her into business classes as much as possible. She doesnt need a regular curriculum, she needs to educate herself on managing her resources. The hell with Beowolf and such like😊
My cousin had lead poisoning when she was 2 from eating paint off of the walls in a run down apartment. Awarded 500k at 18. Within a couple of months that money was all gone on a brand new car, tons of luxury purses and clothes, gifted some to some close relatives (no not me) and that was it. Now she’s in her late 20s and she’s a stripper
Speaking as someone who was in the rare and lucky situation: I'd prepare them a bit, but I would suggest they should know by 16, as thats when they need to start making life choices and they should do that forarmed. I had 0 clue and I made life choices assuming I was starting from $0. If I understood this, I could have pursued a much more fulfilling career and taken some more risk. For a young woman, it will also likely impact her choice of partner. The key thing is, instill good values early so they can deal with having wealth.
My fiancée had the exact same thing happen to her. Her father passed when she was 8 and at 18 she got access to the million dollar settlement she received. Her mother set it up to be released to her in monthly payments that grow at a set rate every year. It’s guaranteed to pay for the next 30 years… she, and now I, are able to use that money as a nice boost every month added to our normal monthly income.
That’s the best way - she can save it or use it to supplement her wage and enjoy working part time or in a field that she enjoys over worrying for money :)
Set her on a path to her future. What does she dream of? What are her talents? If she has a goal she will spend more wisely. You can draw some of the money for lessons in music or art or any special skills. When she is 18 the money is hers. Love her, help her go places and do things. If she is happy and sees herself as a capable person who can succeed it will all work out.
My dad left my two sons ages 25 and 18 his entire settlement for Mesothelioma. They along with me and my husband were the only ones who cared for him when he was sick. He left them 1.4 million. However, they can only use it for investment in stocks, opening a business or school. My oldest has a BA in technology of media and film, so he wants to open a marketing in social media company. My youngest is wanting to get certified in a few manufacturing aspects because he wants to operate his own manufacturing company.
I have offered to leave my daughter well over $1million dollars but she turned me down because she wanted to earn it on her own. She went off to college, worked hard, got 4 college degrees (I did pay for those) and she now has a high paying tech job and a beautiful new construction house. Her goal is to pay it off on ten years and become a multimillionaire through her own efforts. I’m proud of her but she is an only child so she I’ll be getting my money when my gone regardless.
@@electrodynamicorb6548but, work to get those degrees and job afterwards was definitely on the daughter. I wish I'd had more family support so I didn't have such a hard time and long slog getting through college.
All I know is I appreciated things more when I saved up and bought them, my first car, my first college semester, my Wii, Wii games. All the kids that were given everything in high school ended up partying, drinking, smoking, early pregnancy. They let themselves go in college, and they were all snobs I couldn’t stand being around them, they all had this “I’m better than everyone else” mentality cause daddy bought them everything.
One of neighbors. Her son got hurt at a big brand store by their fault and he got a hefty settlement. But because he was still a toddler and the lawyer saw that he couldn't trust the parents, he will got it in full when he turned 19. Now he's 22 and has a big truck and he bought a remodeled 1950's home and now has no money but he has a good job at a casino. The only reason i know this is because his mother likes to talk a lot to me but I'm socially awkward i just smile and nod. 😅
Teach her finances, and budgeting now while she’s young. She’ll learn how to prioritize what’s important, that way when she has those funds released to her, she has knowledge how to correctly manage and grow those funds instead of spending it all.
i'd say for sure wait until she is 18 and enrolled in college/an education of sorts. if you tell her she's gonna have a million dollars given to her then she may not have a reason to work hard in school and in life. just like you shouldn't quit your job if you win the lottery, his daughter should still aim to get an education and participate in society, if she knows that her life is completely sorted out and she doesn't have to worry about money, she likely wouldn't see a point in doing all that.
The most important thing is that whenever she finds out she is impressed how important it is that she tells nobody. Otherwise she will be overwhelmed by the attentions of greedy wealth seeking men, and other "friends" keen to use her.
I worked at a bank and had a member whose mother passed and he got a huge settlement. He was getting about 600k biannually. He was 19 and would buy a new car, total it, and repeat every other month. Eventually he crashed unaliving two of the people in the car with him. Hes in jail now. Good looking guy too. What a waste.
This happened to my son for $25k. He was run over and suffered minor injuries, with a settlement that was intended to cover any later effects that might show up. (None have.) He gets the money in a year. We told him about it, and are seeking to guide him and train him now in how he spends it.
I think a 13 year old has had a lot in life already when they lose a parent. I’d tell her at 16 and start learning about her goals as she learns them. With parental control in place to 25.
@@pauljansen6650 it may not be wise for most, for sure. However, if you’ve taught them money is a tool from the beginning- they would know they need to ask for guidance, like adults do.
If you haven't already, start encouraging her on her passions and educate her on how to achieve her goals because when she turns 18 and has access to more money than most know what to do with those will be at the front of her mind.
@@jasonjohnson1824 Well, you kind of called me smart... I'll take it! lol Yeah, I get what you are saying but if you are a viewer already then you wouldn't need this clip really. And if you aren't then do you really get any kind of teaser about what the show is about? It just shows him judging someone... if that is what the show is about then you don't need to go watch the show since this clip showed it.
She gets the money at 21, 25 in most states if it’s a UTMA. And if she’s 13, it should be $2 million by the time she’s 18, if she waits until 25, it’s $4 million.
It would not be 2 million in five years. On average, it'd only be ~1.6 million in 5 years and that's only in a bulling market the entire time. In reality, 5 years is such a short period it could a shit ton less.
I’d have it in writing that she get it at the age of thirty. Make her go through the normal struggles of life so she appreciates it more when she gets it.
You usually can't just change the terms like that sfter they were already all drawn up, it's generally not the conservators right to arbitrarily change it, even if they think it's what's best
I personally would tell her soon, that way by the time she hits 18 it’s not some huge exciting surprise that she can blow through in a few months on lavish items. I would start getting her in the mindset of budgeting, and living below her means, and provide her with as much financial education as possible
I’m 23 and I got a car accident settlement of $26k recently. I just used it to pay off some debts and I out $14k down on my car that I bought for $29k after taxes and fees. I’m paying $1k a month on the loan to just get it paid off sooner. I don’t want a payment on the car
I lost my parents at a young age and didn't know, but my mom had life insurance and military benefits. I haven't touched it aside from treating myself to a $500 laptop for graduate school, and in the past year in a managed account it has gone from $300k to $340k. Best thing you can do with an investment is forget about it and live your life, checking on it every now and then. My family waited until i was 25 to tell me and i had no idea what to do with it so it's best to think about these things early and often.
My best friend blew all of her money in a couple of years. Became addicted to meth and alcohol, DUIs & nearly lost her life. She is now sober after 10 years of hell.
Teach her financial literacy and about investing. If she invested it properly and left it alone, she could work for 12-15 years doing whatever she wants so long as it pays the bills and retire after that.
First of all, don’t tell her just yet. I would talk with a financial advisor to see what’s the best way to have the money grow over time. He could find a way to grow the money so that she could set up an annuity to live off of it during her life.
You don't tell her about 'the' money, you teach her about financial responsibility. Spend, save, charity. Living below your means. Investing. Long-term financial goals.
Teach her about finances. Give her an allowance. Teach her about budgeting, saving, investing and managing. Also responsibility for herself and her future. Teach her about how to handle money. Income, paying bills, saving and checking accounts. Gold, stocks bit coin. I wouldn't tell her about the million. I also would concerned about others wanting her money... family and so called friends. Educate her to be smart about every aspect of being an independent adult.
I had 1 mil. The only financial education I got was get a life insurance. Now I'm a little older and no more 1 mil (i withdrew it and gave to my parents to build their house and so they don't have to live in a flood prone house), I should have deposited the 1 mil into my own house. I live in a dorm.
I think the term “groom” has been taken too far. A father’s guidance should not be referred to as “grooming.” Absolutely, you should guide her! You don’t want her blowing it all in one go do you? Just know that ultimately, she is the one who gets to decide what to do with it. Man, if only we all received 1 million when we turned 18! 😅
I think he meant to use a different word...like "educate" her. Unfortunately, because of the child s^x industry, (except in the case of "grooming" your pets), "grooming" in reference to children has taken on a bad connotation that it never used to have. He just wanted to educate his daughter on how to deal with financial affairs prudently.
Grooming means you are training or teaching someone so that they can become efficient in what you are training them in. So, it's more than just guidance. It involves giving them in-depth knowledge and understanding so they can manage effectively what they are put in charge of.
I know a woman who inherited lots of $$ from wealthy grandparents when she was in her 20's. I was told that she squandered it on drugs, and boyfriends until it was gone.
I would tell her. For that money she can buy two properties. She can live in one when’s she’s an adult, and the other one she can rent out. That will pay for her property taxes and other house fees. She will this way be safe financially, that she will always have a place to stay. One million is not the „never have to work” kind of money
I think you’re wrong. My sisters sister in law received life insurance money when her hubby died in a car accident. It was about 200K in the early 1980’s. She invested it all and has lived off of it since. She was able to quit her job and live a comfortable life. I think this young girl could make this work with wise investing. She needs to get a pro. And don’t spend it.
I'd tell her and teach her as much as you can before she's 18. The sooner you tell her the more time she has to process and accept it. Given 4 or 5 years she will naturally come to understand that it's a great opportunity and not to be wasted.
If you don't teach her financial responsibility that money will be gone in a year.
6month*
6 days
@@kebas239 3 days+ an expensive car.
@@kebas2396 seconds
6 hours
You have 5 years to show her examples of people who wasted their money.
Rather, 5 years to teach her ways to make good use of the money.
If you teach someone to be afraid they will instead not touch the money at all even when it is in their hands
We all know stories of people who wasted money.
He needs to expose her to good financial prudence. Not “see what bad spending make?!?”
Exactly
Do it now. You've been showing her some levels of financing, managing, 😊 a weekly allowance, right?
And how money making more money 😅
A friend from middle school got $125k when we turned 18. She ran through that money in a matter of months. Financial education, dad!
WTF did she buy?!?!
@@nightwings8984probably cars, fun frivolous stuff. I have a buddy who had a similar situation. A corvette, a couple jeeps, and many vacations with his now wife later, it was all gone.
It was a little over 18 months. I have no idea. I just know it was gone. 🤷🏾♀️
Exactly
My dad passed away when I was 9. When I turned 18, an account with $45,000 available suddenly showed up in my online banking. I ran through it in about a year. I came from a poor family and suddenly I could buy all the crap I wanted. Don’t be like me.
Teach her now! She'll have a lot of family with their hands out and she can end up losing it all too quickly. My father passed and I went from $120k to zero in months and all my family with their hands out are all gone and living their lives. Don't let her end up like me! Teach her better beforehand
😔. So sorry that happened to you
Hope you get some good karma returned one day mate.
😊@@eisenhower9069
You probably the person that someone mentioned about this situation in the comments. lol
My grandson has something similar. I put it in a trust. He only gets the dividends each year once he's 18 until he's 35, except for education or purchasing a house. If money from the trust buys the house, the house must be put in the trust. Taxes will be paid by the trust. It protects him against his youth and people who may manipulate him.
Love this
That’s a real good one .
This sounds like a winner. My. Nephew went through his inheritance in about year and he thought it would last. Forever. Should of. Need invested
The best option
If it’s a trust solely for one beneficiary, they can potentially just wind it up if they’re 18 and of sound mind. (In Australia)
Also, if it’s been left to the daughter, it might be legally required to be paid directly to her when she turns 18…? 🤷🏼♀️
Don't tell her, but do start educating her on finances. She'd need to be relatively advanced level at 18, so having a plan for her is critical, or it could be very destructive to her future.
@@shea455 exactly good advice!!! That’s my son is doing to my grandson which his 16 Now and got him investing into index funds
I agree. 13 is way too young to have that knowledge floating around in their adolescent brain. I used to teach middle school and somebody’s gonna tell the secret and then tell them not to tell the secret and then so on. Middle schoolers talk… a lot!
Totally agree. If I knew I had a million dollars waiting for me I would have been much less motivated to plan for the future. Educate her on finances and help her plan for her future
Absolutely tell her no reason to gate keep money that's gonna be hers anyways
@@nathandennis8078she could tell other students and they could be robbed or killed, she could have little motivation for the future, or she could even beg for it to be hers now. It’s not a good idea
I once remember seeing an interview with a former child actor. I don't remember who it was. He said his mother would drag him to meetings with their financial advisor. She told him that she wanted him there so that he would learn what was being done with his money and what he needed to know to manage it himself when he grew up. He said at the time he didn't like going to the meetings, but in hind sight that was the best thing his mother could have done for him.
😮43
Malcolm Jamal Warner. I remember that interview too.
I will search for that interview.@@sarahturner9028
@@sarahturner9028 That's right, I remember it was him now.
I do the same with my son.
Don't tell her, but give her financial education
He had to tell her so she can make sense of the information she’s getting. If she just suddenly gets a million she’s going to spend a ton of money
Yes like $2000K every month limit
@@mrn7356 That’s not even 6 months of spending assuming you meant $200k (and not $2000k, which is double what she’ll inherit).
Nobody needs $200k a month at 18. She’ll be fine with $1-2k at most. The rest can be invested.
He's clearly not qualified to handle that money himself. Why else call in
Dont let her have it all at once teach her now
Teach her now and pray she listens. My son turned 18 and blew his large settlement in under a year. The lesson was learned but it was expensive.
You don't want to tell her how much, just that it is there, let's make a plan.
My step aunt saved all social security money for her daughter after the daughter lost her dad. At 18, the girl got all money, bought a brand new car, let boyfriend drive it and wreck it. No money. No car.
Financial education! Some kind of trust if you can.
You can actually have your SSA benefits suspended for saving it like that. My daughter also receives death benefits and this is one of the first things they told me.
But what if she got into the accident and not the boyfriend maybe somethings happen for a reason.
That SS money is for the guardian to provide for the child.
It's nice that she set it aside for her but I would have set it up in a trust with very strict regulations....
Modest first Car
House downpayment....
Etc....
Then give her full access way, WAY down the road!
@@samvincent0611
In the past. Not any longer
No car insurance?
I was sorta like this. My mum took option C - Made sure I worked and saved before buying from 10-13 or so, then told me about it around 14 and started educating me on finance and what to do with it.
It worked. Got a great leg up and a comfy life 20 years later.
Great approach. Depends on the maturity and temperament of the child. Teaching her the value of a dollar and so on. Helping with small purchases.
My friend was in a similar situation. He groomed his daughter along the way. She had realistic expectations for that money by age 18 and is doing well for herself.
he did what?
Sus.
@@WillParker322why cus someone was stupid for once it's sus....
@@joemoe5619i think he meant about the word grooming
@@oke475only thing sus are the people that calling the word “grooming” sus.
Don’t tell her. She’ll tell her peers and then she won’t know who her real friends are.
Be sure to tell her to keep it to herself. It's so much safer and keeps away the predatory people
because young people are so great at keeping secrets lol
He’s such a good dad for thinking ahead!
His concern should be to be a better father. If she can't make good decisions in the next 5 years, she's got bigger problems. Like he said, the money is hers.
As someone that was given wealth but not the tools I can tell each and every person here the tools are much more important than the wealth.....
I wouldn’t tell her yet. My youngest daughter is excellent with her money and it’s due to her seeing my ex and I struggling with our finances. She’s determined not to live that life herself. I couldn’t be more proud of her!
The daughter listening: 👁️ 👁️
👄
Had a friend who got close to 100k when he turned 18 from his grandma to "set him up and get him started". He went travelling. Expensive parties, coke, girls... The money was gone in a year lmao
But on the other hand I guess he had a hell of a time
As long as he survived it, it's probably better it was gone fast. A million can be worse because you end up broke when you're 30 or 40.
I at one point had about 3 bitcoin, had I held onto it until it reached its peak I’d have made like 200k, instead I sold it gradually and maybe made a total of 20k. I am probably pretty fortunate I sold it when I did cause I have no idea what I’d have done with that kind of money
@charlesdesobry9446, those numbers are the same.
@@Lady_Marinade *20k my bad
What a dumbass he could of invested that and been a multi millionaire within a decade
Tell her about it. Don’t tell her about how much is in it though. And more importantly use these 5 years to teach her as much as you can about long term wealth and investing, if you’re a good dad (which it already seems like you are) she’ll turn back to you when she can actually make the adult decision to spend or use it and ask you to help her to that wisely. My dad did this for us and I’m extremely grateful I understand $$ as well as I do at 28.
R.I.P to the mother
How did this comment get almost 200 likes. I mean, r.i.p but still
@@IStaySt0n3d_OSRSthe commenter is assuming the settlement money came from the mothers life insurance when she passed
You are truly doing gods work with this comment, god bless you and all you do🫡
It’s been nine years, get over it.
@@joaosimoes7065clown.
I know two people who got large settlements as teens. Both spent it all on drugs and one died from his addiction. Idk what Ramsey recommended here, but a trust is probably the solution here if it’s at all feasible.
It's not grooming it's called financial education and hope for the best
Give her 100k and see what she does with it. It will be educational for SURE
10k will do the same thing
I’m glad we got to hear the well thought out and methodical response of Dave that really shed light on the situation…
Dave- “whoa”
😂😂😂
They should reveal Dave's response
They have a stupid mind set on RUclips. They like asking questions but never bother to answer the questions they ask.
That's what the link on the short is for... So that if you're interested, you can watch the whole question and answer. If not, you only wasted your time on the short and can move on...
@@thomaskraus5125the short is to show the question. The link in the description is if you want to hear the answer 🤦🏼♀️
@thomaskraus5125 very easy solution for you. Click the second line between the channel name and the short's title, where the play triangle is. |> How Do I Tell My Daughter.... You will find exactly what you are looking for.
We started with monetary gifts our kids got- before they knew what it was, it all went into mutual funds, after they knew they got to keep half and half went in the funds. Now they are teens, they decide how much goes in. That money has bought cars, paid for college classes, trips to DC with school, and other things. Teach them early to help them as they get older. We are not wealthy, but we got good advice from others who were.
One, this is an actual father asking for advice. I for one would say do not tell her, or anyone else for that matter unless you fully trust them.
Two, make sure she takes a business class/financial class. Teach her in the meantime about good work ethic and saving for rainy days. Teach her the ropes in investing and hopefully all will be well in her and your future.
She NEEDS to know, NOW. Teach her the VALUE of what she'll receive, and she'll use it wisely when she does.
Don't tell her about this else she would become careless about her future. Educate her for 5 years about finance and help her build a business to grow that money even further.
By the time the daughter is 18 that money could double..
With $2 mil she could live off 5% of the earnings on that balance easily ($100,000 per year) for the rest of her life..
At 5% the amount invested should continue to grow and therefore the $ amount of 5% continue to grow over time too..
Anyone who has money should invest in real estate 100% of the time. Never save ur money enless it’s for emergency funds. Renting ur property is the #1 way to get rich and stay rich.
Not everyone wants to deal with real estate@@Carolbaskin23
@@Carolbaskin23no. Real estate investing is for people that are interested in real estate investing. Stocks are much better for the average person. A stock portfolio can even include real estate (REITs).
@@Carolbaskin23true but you should also diversify your portfolio not just only put it in real estate. But yes, don’t save money.
@@dacokc exactly he has to manage that money for her now. Just don’t tell her NOTHING! for her own good 😊
My neighbor told her son that he was getting a quarter million at 18 from his dad passing away. She told him this when he was like 13, he never tried in life. His response to everything would be some form of I’m going to be rich when I turn 18 lol
Not exactly wrong. If you have a cushy background you can focus on doing something you enjoy for a living
@@ryancoo3968
$250,000 won't take you far these days. Young people need to focus on jobs that will yield a good income.
@@ryancoo3968 quarter million is not that much tho.
And thats very destructive especially since 250,000 will not last long if he doesn’t invest that money into a business, stock market, real estate, etc
@@ryancoo3968$250K is not cushy. It’s a start on education or a house but no one will live from 18 on with that unless they die very young.
Don't tell her. She's too young. I'm single and in my will my estate goes to my niece and nephew with the stipulations that they will get their share at 18 if they further their education. If they decide not to go to school, they will receive their settlementst 25.
Mine is tied to their income and negative drug tests. If they don't work no money. If they are working they get 50 cent to every dollar.
If they have medical issues verified by 3 independent doctors the distributions changes.
@@eileenwatt8283 I hope you set it up so that the trust covers the medical fees because if they're that desperate they won't be able to afford three independent doctor visits.
Don't force them to go get brainwashed at jewhating universities. Add trade schools and apprenticeships.
I don’t have children but my two adult nieces who are in their early 20s are my beneficiaries with the understanding that once they complete university, the funds will go to pay off their education, and if they don’t go to university, the funds are set aside for them to begin a business
Responsible and caring dad. Love it. ❤ Hope he succeeded and be very proud of his daughter!
Don’t tell her anything until she’s taught the ins and outs of money management. She’ll thank you for it later.
I had mutual funds worth $100k turned over to me when i was 18. I spent none of it until i was 25 and took out the small down payment on my $135k house. I spent none of it again until i bought another house in 2019. I've spent none of it since then and right now it's worth about $85k (I'm now 36).
Everyone i know is completely baffled that i never spent it all. My sister spent all of hers. To be, it was never an option. I knew what that money was doing for me. I just pretended like it never existed.
Based
@@coryjohnson2486now this is discipline, for me i have planned my life never to receive any inheritance from my father if he passes on. I will push on my own
Teach her the value of saving and investing first!
Teaching her financial responsibility is just a start.
It’s quite irresponsible to allow an 18 yr old to access $1M unless they earned that money themselves.
Tell her and involve her in the financial decisions. Not only tell her, but ask her opinion. That way she will be able to learn by example and maybe not waste everything at once.
No, don’t tell her but first talk to a lawyer
I got in a car accident at 16, the settlement cleared by the time i was 19, it was quite a bit. I blew through it by the time i was 21.. i wish that someone would have helped me or educated me because i would have been much more financially stable as a 36 year old now. It allowed me to move and start a career, but i could be in a better place now if i would have utilized it better.
Yes, if you had just put 50% of the money into a savings account.
That’s funny, by 19 I had finished university and owned my first used home which I bought for $23,000 as well as a used car purchased for $10,000. I did it all on my own - how I would’ve loved to have the boost up that you did yet you blew it all.
You just wouldn’t hear ppl , we all have phones we can research what to do or ask ppl if you wait for ppl to tell you what you should do we know won’t work simply because you want to do what you want to do.
That’s such a bummer :(
Trusts can be set up that grants access early upon approval (like assistance with down payment, paying off student loans), or no access at all, then then release the funds staggered over years. Like 1/3 of the trust at 30,
Half the remainder at 40, and then the rest at 50, etc.
Trust with yearly payouts from interest. Leave principal payouts until 30.
I am guessing this was a payment for insurance. He can do nothing about when or how she gets it. If he has set it up I should think he would have spaced out the payments or set it up to give her an income.
Thanks for sharing it on RUclips! The secret is no longer safe!
I have a friend who got about half of that at 18 from the loss of her father. By 30 I believe it was all gone. Education is hugely important in this situation. My friend should have been set up to retire at 65 with $30 million from that money, but instead...zero.
Financial education should start very young. I started educating my daughter at around 5 yrs old. She owned her first home by age 23 with an 800 plus credit score. She is very financially savvy.
My best friend’s mom worked at a bank and her dad was a teacher so money was always tight for the family of 5 but my friend started a paper route when she was in elementary school and continued it through high school. Her parents invested that money and gave her a small portion of it as allowance to use as walking around money in HS. Both of her parents are now deceased, and left her some money - I don’t know how much, but it wouldn’t have been a lot. She put herself through nursing school at age 30 and stayed at the same job for 20 years so she maxed out on their matching pension plan. She also lived in a house built in the early 70’s and renovated it as she could afford - it’s still not done and she’s been in that house for over 20 years. She just turned 54 and is now retired. She lived within her means and now enjoys the fruits of her spoils. Don’t get me wrong, because even though she lived frugally, she was still able to travel frequently and eat well.
@@fluffytail6355she is living the American dream
Don't tell her. Raise her to work hard & be smart with money. That's gonna be the best 18th birthday gift ever!
Yup. I would even wait till she's 21-25 😂
No amount of money in the world is worth losing your mother as a child. This poor little girl 💔
That has nothing to do with the subject of this video.
No, it’s not but parents die and often leave their children with nothing so a little bit of money towards her financial future won’t bring her mother back, but it also means she won’t have to struggle and can afford a university education or to start a business which is a lot better than a lot of people get.
The video isn't about.... F it, I don't even feel like it, 🤷🏾♀️
NOT THE POINT, lady!!!
@@lauriep6831it does
I want you take this financial literacy class about windfalls for no reason at all; you absolutely do not have a windfall coming.
i deliberately used to speak openly (to my wife) about our finances and the rationale for doing what we’re doing. my wife used to be bored out of her gourd an asked me why i did this. i told her “you didn’t notice i usually do it when our daughter is around and listening?” 😂😂
Smart. I picked up some valuable nuggets of wisdom from random comments my mom made.
Same thing happened to me , but my dad didn’t tell me until I turned 40 so much built up resentment!! And I been married since I was 19 raising a family going through struggles.
I'm so sorry...that's inappropriate of your dad. You could have used that money to help you survive. I'm wondering if he thought that the guy you married would only marry you for the money, and wanted to make sure you married for love?
@@bettywith2girlsIf it’s illegal, then how was your dad able to keep the secret until you hit 40?
@@adamkorekach9936 because he would give small amounts here and there , when I would desperately need it and made it seem it was coming from his personal funds . And most times I would have to pay it back .
@@jasonherrera3525WOW…. He gave you money that was due to you and you had to pay it back? So was the amount you paid back still included in what you received at 40? That is awful.
Thats awful.
Yes, tell her and groom her along the way. Kids need to be taught about money management. So sorry for the loss of her Mom ❤
Teach her financial responsibility but surprise her with it. You don't want her slacking off in her early teen years thinking she's going to win a jackpot at the end of high school.
Get her into business classes as much as possible. She doesnt need a regular curriculum, she needs to educate herself on managing her resources. The hell with Beowolf and such like😊
My cousin had lead poisoning when she was 2 from eating paint off of the walls in a run down apartment. Awarded 500k at 18. Within a couple of months that money was all gone on a brand new car, tons of luxury purses and clothes, gifted some to some close relatives (no not me) and that was it.
Now she’s in her late 20s and she’s a stripper
Groom was definitely the wrong word. Mentor would have been more appropriate. Don't groom your daughters, dad.The more you know.
I could not get over his choice of words.... Sir. No.
Means the same
If you have a problem with the word then you’re the problem lol, he’s a concerned dad not Dr. disrespect
yeah, phrasing 😬
Speaking as someone who was in the rare and lucky situation: I'd prepare them a bit, but I would suggest they should know by 16, as thats when they need to start making life choices and they should do that forarmed.
I had 0 clue and I made life choices assuming I was starting from $0. If I understood this, I could have pursued a much more fulfilling career and taken some more risk. For a young woman, it will also likely impact her choice of partner.
The key thing is, instill good values early so they can deal with having wealth.
Such a good point. I would have made so many different choices if I had some money at a young age.
My fiancée had the exact same thing happen to her. Her father passed when she was 8 and at 18 she got access to the million dollar settlement she received. Her mother set it up to be released to her in monthly payments that grow at a set rate every year. It’s guaranteed to pay for the next 30 years… she, and now I, are able to use that money as a nice boost every month added to our normal monthly income.
That’s the best way - she can save it or use it to supplement her wage and enjoy working part time or in a field that she enjoys over worrying for money :)
I agree with this, but that money is hers not yours. Don’t use it to boost YOUR portion of the income. Consider it hands off.
Why you?
Yeah why you getting your hands on it!
Not your money punk
Absolutely not! DO NOT TELL HER!
Fool
Set her on a path to her future. What does she dream of? What are her talents? If she has a goal she will spend more wisely. You can draw some of the money for lessons in music or art or any special skills. When she is 18 the money is hers. Love her, help her go places and do things. If she is happy and sees herself as a capable person who can succeed it will all work out.
My dad left my two sons ages 25 and 18 his entire settlement for Mesothelioma. They along with me and my husband were the only ones who cared for him when he was sick. He left them 1.4 million. However, they can only use it for investment in stocks, opening a business or school. My oldest has a BA in technology of media and film, so he wants to open a marketing in social media company. My youngest is wanting to get certified in a few manufacturing aspects because he wants to operate his own manufacturing company.
You don’t tell her-about that money until she turns 30 LOL.
Or when she has kids
That is illegal. The money is hers at 18
I say about 60
As someone else said, it’s illegal.
Me thinks the "LOL" means joke, no? @@Asbjoern
I have offered to leave my daughter well over $1million dollars but she turned me down because she wanted to earn it on her own. She went off to college, worked hard, got 4 college degrees (I did pay for those) and she now has a high paying tech job and a beautiful new construction house. Her goal is to pay it off on ten years and become a multimillionaire through her own efforts. I’m proud of her but she is an only child so she I’ll be getting my money when my gone regardless.
Wonderful daughter you really raised her well ❤❤❤
News flash it’s not her own effort with paid for degrees
@@electrodynamicorb6548but, work to get those degrees and job afterwards was definitely on the daughter. I wish I'd had more family support so I didn't have such a hard time and long slog getting through college.
She wanted to get there on her own but she never because you paid for her 4 degrees!!!!
@@electrodynamicorb6548your jealousy is showing😂
so much useful information in this clip, wow im glad i watched it.
All I know is I appreciated things more when I saved up and bought them, my first car, my first college semester, my Wii, Wii games. All the kids that were given everything in high school ended up partying, drinking, smoking, early pregnancy. They let themselves go in college, and they were all snobs I couldn’t stand being around them, they all had this “I’m better than everyone else” mentality cause daddy bought them everything.
I did that too. Bought my own car house etc with own earnings.
We appreciate more when we ourselves earn.
One of neighbors. Her son got hurt at a big brand store by their fault and he got a hefty settlement. But because he was still a toddler and the lawyer saw that he couldn't trust the parents, he will got it in full when he turned 19. Now he's 22 and has a big truck and he bought a remodeled 1950's home and now has no money but he has a good job at a casino. The only reason i know this is because his mother likes to talk a lot to me but I'm socially awkward i just smile and nod. 😅
I didn't know a lawyer had the power to withhold funds like that. Of course he collected hefty fees for managing the money, right?
This was tricky to understand. The grammar was off.
If he bought a home he doesn't have no money. Not only that but if his parents aren't trustworthy with money then they may not know the truth.
Teach her finances, and budgeting now while she’s young. She’ll learn how to prioritize what’s important, that way when she has those funds released to her, she has knowledge how to correctly manage and grow those funds instead of spending it all.
i'd say for sure wait until she is 18 and enrolled in college/an education of sorts. if you tell her she's gonna have a million dollars given to her then she may not have a reason to work hard in school and in life. just like you shouldn't quit your job if you win the lottery, his daughter should still aim to get an education and participate in society, if she knows that her life is completely sorted out and she doesn't have to worry about money, she likely wouldn't see a point in doing all that.
Hey thanks for posting Dave Ramsey’s answer. That was really interesting.
The most important thing is that whenever she finds out she is impressed how important it is that she tells nobody. Otherwise she will be overwhelmed by the attentions of greedy wealth seeking men, and other "friends" keen to use her.
I worked at a bank and had a member whose mother passed and he got a huge settlement. He was getting about 600k biannually. He was 19 and would buy a new car, total it, and repeat every other month. Eventually he crashed unaliving two of the people in the car with him. Hes in jail now. Good looking guy too. What a waste.
oh god
KILLING. "unaliving" is not a real word!
@@pstanton2445 im just trying not to be censored by YT! 🙄🙄
@@pstanton2445RUclips censors words and ends up deleting entire comments. We all know what OP meant.
@@pstanton2445 do you not understand censorship?
This happened to my son for $25k. He was run over and suffered minor injuries, with a settlement that was intended to cover any later effects that might show up. (None have.) He gets the money in a year. We told him about it, and are seeking to guide him and train him now in how he spends it.
Coke and hookers!
Big fat vacation to Australia and money to buy a decent car 😏👍
@@webfreakzNew Zealand
Invests it* he shouldnt spend it
Your Best BET! Put that money on an investment account and let it grow like my son is doing NOW and his teaching my grandson also about investing!
I think a 13 year old has had a lot in life already when they lose a parent. I’d tell her at 16 and start learning about her goals as she learns them. With parental control in place to 25.
She Lost her mother 9 years ago.
She was 4 at the time. So most of her life was already the way that it is now.
@@aniaraboghlian1214 so very young. Any tender age will suffer greatly. So sad. I hope she has lots of loving people in her life.
Stupid to leave that amount to someone when they turn 18 with no requirements
@@pauljansen6650 it may not be wise for most, for sure. However, if you’ve taught them money is a tool from the beginning- they would know they need to ask for guidance, like adults do.
If you haven't already, start encouraging her on her passions and educate her on how to achieve her goals because when she turns 18 and has access to more money than most know what to do with those will be at the front of her mind.
It would be nice if some of these shorts actually gave some advice or something. I mean, isn't that the purpose of the show?
I think they just want to tease it so that you watch the longer videos
@tinkywinky4449I think they were helping someone else along, but we now know why you’re dubbed the tiny1 🎉
It's to get you to watch the video smarty pants
His advice is pretty dated. For the average person it still holds up but you leave a majority of opportunity on the table
@@jasonjohnson1824 Well, you kind of called me smart... I'll take it! lol Yeah, I get what you are saying but if you are a viewer already then you wouldn't need this clip really. And if you aren't then do you really get any kind of teaser about what the show is about? It just shows him judging someone... if that is what the show is about then you don't need to go watch the show since this clip showed it.
She gets the money at 21, 25 in most states if it’s a UTMA. And if she’s 13, it should be $2 million by the time she’s 18, if she waits until 25, it’s $4 million.
That’s only if it’s invested somewhere, no?
It would not be 2 million in five years. On average, it'd only be ~1.6 million in 5 years and that's only in a bulling market the entire time. In reality, 5 years is such a short period it could a shit ton less.
@@AccountHolder007 do people actually just let a chunk of money sit in the bank? I’ve never heard of such a thing.🤷🏼♀️😆
@@SuzanneQuew-vc4us Yes, at least where I am - Europe/Scandinavia.
😮educate her! I ran through mine in less than 6months
Why??????
Good video,keep it up,God bless your channel
It's amazing all these people saying "don't tell her"
I could never keep that from my child.
It's her life/future that will be effected....
I’d have it in writing that she get it at the age of thirty. Make her go through the normal struggles of life so she appreciates it more when she gets it.
You usually can't just change the terms like that sfter they were already all drawn up, it's generally not the conservators right to arbitrarily change it, even if they think it's what's best
Well then I’m just gonna party in my 20’s doing the bare minimum knowing that at 30 I get a million.
I personally would tell her soon, that way by the time she hits 18 it’s not some huge exciting surprise that she can blow through in a few months on lavish items. I would start getting her in the mindset of budgeting, and living below her means, and provide her with as much financial education as possible
I’m 23 and I got a car accident settlement of $26k recently. I just used it to pay off some debts and I out $14k down on my car that I bought for $29k after taxes and fees. I’m paying $1k a month on the loan to just get it paid off sooner. I don’t want a payment on the car
I lost my parents at a young age and didn't know, but my mom had life insurance and military benefits. I haven't touched it aside from treating myself to a $500 laptop for graduate school, and in the past year in a managed account it has gone from $300k to $340k. Best thing you can do with an investment is forget about it and live your life, checking on it every now and then. My family waited until i was 25 to tell me and i had no idea what to do with it so it's best to think about these things early and often.
My best friend blew all of her money in a couple of years.
Became addicted to meth and alcohol, DUIs & nearly lost her life.
She is now sober after 10 years of hell.
Teach her financial literacy and about investing. If she invested it properly and left it alone, she could work for 12-15 years doing whatever she wants so long as it pays the bills and retire after that.
Exactly! Smart.
First of all, don’t tell her just yet. I would talk with a financial advisor to see what’s the best way to have the money grow over time. He could find a way to grow the money so that she could set up an annuity to live off of it during her life.
You don't tell her about 'the' money, you teach her about financial responsibility. Spend, save, charity. Living below your means. Investing. Long-term financial goals.
Don't tell, she will not try at school. Teacher her about money. Also tell her NOT to tell anyone when she finds out. Sadly she will have fake friends
I wouldn’t tell her just yet. I would show her examples of people who lost everything. Education is key.
Teach her about finances. Give her an allowance. Teach her about budgeting, saving, investing and managing. Also responsibility for herself and her future. Teach her about how to handle money. Income, paying bills, saving and checking accounts. Gold, stocks bit coin. I wouldn't tell her about the million. I also would concerned about others wanting her money... family and so called friends. Educate her to be smart about every aspect of being an independent adult.
I had 1 mil. The only financial education I got was get a life insurance. Now I'm a little older and no more 1 mil (i withdrew it and gave to my parents to build their house and so they don't have to live in a flood prone house), I should have deposited the 1 mil into my own house. I live in a dorm.
What?!?!
I think the term “groom” has been taken too far.
A father’s guidance should not be referred to as “grooming.”
Absolutely, you should guide her!
You don’t want her blowing it all in one go do you?
Just know that ultimately, she is the one who gets to decide what to do with it.
Man, if only we all received 1 million when we turned 18! 😅
I think he meant to use a different word...like "educate" her. Unfortunately, because of the child s^x industry, (except in the case of "grooming" your pets), "grooming" in reference to children has taken on a bad connotation that it never used to have. He just wanted to educate his daughter on how to deal with financial affairs prudently.
I was looking for this comment.
Grooming means you are training or teaching someone so that they can become efficient in what you are training them in. So, it's more than just guidance. It involves giving them in-depth knowledge and understanding so they can manage effectively what they are put in charge of.
lmaooo he just says WOAH and the clip ends
I know a woman who inherited lots of $$ from wealthy grandparents when she was in her 20's. I was told that she squandered it on drugs, and boyfriends until it was gone.
Every story I’ve heard like this ends badly. 18 is way too young. Is there any way to make it go towards college or she gets it in installments?
Give her allowances along the way. Tell her to buy a condo or house cash. Let her follow her dreams and passions and she’ll be successful
Buying a house is smart. Could also use the money for education, college, etc.
I would tell her. For that money she can buy two properties. She can live in one when’s she’s an adult, and the other one she can rent out. That will pay for her property taxes and other house fees. She will this way be safe financially, that she will always have a place to stay. One million is not the „never have to work” kind of money
I think you’re wrong. My sisters sister in law received life insurance money when her hubby died in a car accident. It was about 200K in the early 1980’s. She invested it all and has lived off of it since. She was able to quit her job and live a comfortable life. I think this young girl could make this work with wise investing. She needs to get a pro. And don’t spend it.
@@deborahjackson6108 Yeah, about 50 years ago. Very intelligent reply
I'd tell her and teach her as much as you can before she's 18. The sooner you tell her the more time she has to process and accept it. Given 4 or 5 years she will naturally come to understand that it's a great opportunity and not to be wasted.
It’s surprising what you can judiciously hide from adult kids until they’ve *really* grown up. They’ll thank you for it.
Never in my life have I been shocked enough to pause and come to the comments, the "groom her" caught me so diabolically off guard. 😭😭