Parent Rejects $19,000 Gift for Daughter Turning 18 Over Concerns About Unearned Wealth
A parent declines a substantial cash gift for their 18-year-old daughter, citing the importance of earning money first.
A parent is pushing back against an older relative's plan to give their daughter $19,000 once she turns 18, arguing that it is not healthy for very young adults to receive large sums of money without having earned it. The parent's stance, detailed in a MarketWatch column, reflects a common debate within families about the timing and impact of financial gifts to young adults. Source: https://www.marketwatch.com/story/an-older-relative-wants-to-give-my-daughter-19-000-when-she-turns-18-i-said-no-whos-right-f793a2f1?mod=mw_rss_topstories
MERIDIAN: For ordinary people this shows how many families believe sudden money can short-circuit the lessons that come from earning your own way, which might help shape more grounded money habits for the next generation.
Sources (1)
- [1]An older relative wants to give my daughter $19,000 when she turns 18. I said no. Who’s right?(https://www.marketwatch.com/story/an-older-relative-wants-to-give-my-daughter-19-000-when-she-turns-18-i-said-no-whos-right-f793a2f1?mod=mw_rss_topstories)