Your pension above your kids? Maybe don't have kids..?
I dont think the deal is to subsidise them indefinitely.
I hope you understand when your children do a cost analysis against the time spent wiping your arse and wiping the dribble of your chin in your old age -v- how much they could pay into their pension instead based on the hourly rate they should be charging you. And then decide you are too expensive to maintain! 😀💩
im quite comfortable with not expecting or even hoping either of my children are going to do that. However if I was thinking that my investment in my children was going to reap returns in old age I’m not sure I’d be trusting it to a 25 yr old with crypto investments who didn’t want to pay for running costs of the house!
I would say, whatever if costs for him to live at home, charge him that (food, a share of the bills, some sort of fund for general and unexpected maintenance, a contribution to morgate payments). Otherwise, you are just using your kid as a source of passive income.
I don’t think (m)any people have been advocating milking them for all you can but there are undoubtedly additional costs of having an extra 25yr old living in your house. At one extreme if that person stops you downsizing their cost impact could be quite significant.
(Nor do I understand why anyone that believes people need to be disciplined to live in a harsh world decided to create new people forced to live in it, but I'm fully aware that view puts me in a minority).
I had children specifically to pay future taxes to look after the people who were too selfish to have their own offspring to care for them 😉 there’s always a different way to spin your superiority!
We charge ours 25% of take home (the same as I was charged when I left education) and of that a third is put aside for them for when they move out, but they don't know that yet.
Even at those rates they have way more disposable income a month than either myself or my wife have, so it only seems fair.
Check his room for care home brochures 😉
TBH do you need to charge him anything ? its almost like saying you arent family, you are a tenant.
To not charge rent/board to an adult working child is a luxury many can't afford to contemplate.
Let's wind the clock forward 10 years and look at it another way. Your kids have a house, due to whatever circumstances, you are having to live with them while still working - would you expect to get away with not contributing anything?
To not charge rent/board to an adult working child is a luxury many can't afford to contemplate.
Let's wind the clock forward 10 years and look at it another way. Your kids have a house, due to whatever circumstances, you are having to live with them while still working - would you expect to get away with not contributing anything?
I think the important question is, do you charge them something that resembles the actual cost of having them there, or do you base it (however loosely) on market rent? Why anyone would do the latter with their kid I've no idea
(Nor do I understand why anyone that believes people need to be disciplined to live in a harsh world decided to create new people forced to live in it, but I'm fully aware that view puts me in a minority).
I had children specifically to pay future taxes to look after the people who were too selfish to have their own offspring to care for them 😉 there’s always a different way to spin your superiority!
I've no idea how you think superiority comes into this. I personally think making it through life is pretty damn tough, and that's the major reason I will not have children. Most others don't feel the same way and hence have no problem having kids, but some do seem to feel similarly and have kids nonetheless
Its way too cheap imo.
If you want you could put him on an expotential curve increase. So every year he sticks around at Hotel Mum&Dad its going to cost 30% more than last year.
Still take years to get to the level of renting a flat for himself , then put the rent into a ISA for him as a house deposit so he doesnt fall into the poverty trap of renting a house at more than the monthly cost of a mtg , as he cant get a 25% lump to put down,
He doesn’t waste his money.
He doesn't waste it on rent, at any rate.
What's his game plan? Is he saving up for a deposit on his own place, or is hoping to live off Bank Of Mum And/Or Dad until you die at which point he gets a free house? That would rather colour my decision.
I paid 25%, including any OT and had to show my mother my wage slip each week to prove I wasn't trying to short change her.
My son currently pays £30pw and has for the last couple of years. I didn't put it up this year as he's paying for driving lessons. The original plan was to save it for him in the future but cost of living rises put paid to that.
Can't remember exactly figures but I paid a percentage up to a certain maximum amount as my hours varied with the seasonality of the work and if I had a well paid month it was probably that I was mostly at work on site 😆
I saw all this 'rent' again as rental deposits and latterly legal fees when buying.
It was about budgeting and appreciating the benefit of a stocked kitchen as me being home nearly doubled the food bill.
All a far way off with many variables to say if I'd do the same for my offspring.
