Quote:
Originally Posted by 3blade
loan your kid the money. Interest free if you want to, but it should be clear that she has to pay it back at the end of her first degree/diploma, and any further education is exclusively her responsibility. Paying for it herself makes it valuable to her, and enforces the concept that there has to be a ROI/career at the end vs being a student forever because it’s easy or what she’s used to. This worked on me and most people I know. The ones who had daddy’s money, didn’t really give a crap....Some did ok but most aren’t in the profession anymore, more school because it’s easy to wake up at 11 and go to 2 classes.
Don’t leave your wife in a different city, even temporarily. That’s not how human relationships work. Only bad stuff comes from distance. Even the suggestion is a red flag. So what if she goes and comes back? Such is life as a couple. There’s the advice you didn’t want.
Rent in cowtown, together, and make a final decision here vs there at no more than 6 months. I wouldn’t suggest making a long term plan on your kids place of residence until you have a better idea of her future. Things change a lot in those years. Nothing wrong with residence or renting an apartment until you know for sure.
|
We obviously view things differently. That’s okay, to each their own.
Personally, I think if you don’t trust your spouse enough, or don’t trust yourself enough, to be apart for a while then THAT is the red flag. I’ve been back east for schooling before, as well as out here in EG starting this current posting 9 years ago while my wife stayed in Abbotsford as my daughter finished off her current school year, and we are still just fine. This won’t be as bad, as I’m close enough to drive home for my days off. Basically away 6 days, then home for 4, as I won’t be able to work any overtime while training.
For schooling, I agree there is the risk my daughter won’t appreciate the education, a lot of kids don’t. However, if I’m in the position to help her financially then I will do so. It’s up to me to teach her the value of the education and not to take it for granted, but I’m a graduate of the school of hard knocks myself and it was a struggle. I won’t force my kid to struggle for the sake of learning a life lesson as long as I feel she is still a good person and is learning as she goes, she is my only child and as long as I’m in a position to do so, I’ll continue to help her out and try and make her life easier. If I find she isn’t taking it seriously, or I think she isn’t learning how to cope, then I can make adjustments on the fly, but for now I know my daughter and am comfortable with her progression as a young adult.
You are correct though in your assessment of not making a decision just yet. For now we are just floating some different ideas around, and residence in the first year is an option on the table.
I am leery about jumping into the condo market, especially in the short term. That being said, I’m going to work the numbers and make a determination based on how much I’d be paying in rent or residence (thrown away money), vs. buying and potentially taking a loss, both on the possibility of the value decreasing during time of ownership as well as real estate fees if sold and other factors. Rent pricing seems absurdly high when compared to mortgage payments, even factoring in maintenance/strata fees, taxes and costs of owning. The great unknown is the potential for a special levy due to large ticket building repairs, but even that can be mitigated by doing your due diligence on past repairs, identified issues not yet repaired, and the strength of the strata’s reserves. A coworker has a couple rentals in the city, and she has used a researcher in the past, for a couple hundred bucks they delve into strata financials and all past meeting minutes rooting for any and all things pertinent to potential buyers. Seems like money well spent.