Are you pissed if you find out your kid has a million dollars? While still living at home?

[Jenesis]

So there was a prank that a kid played on his father that started an online debate.

Kid called a fake bank on speaker to get his balance. It was over a million. He is a YouTuber. The father got a little upset when he heard the fake balance.

So if your 16 year kid had a million dollars in the bank, how would you feel? Would you feel you were entitled to know before hand? Would you make them start contributing to things like rent and food? Would you only make them start paying for luxury things like their car, gas, insurance, trips out with friends etc? Would you stop giving them money like you did before?

How would you proceed?

 

[Starwalker]

So there was a prank that a kid played on his father that started an online debate.

Kid called a fake bank on speaker to get his balance. It was over a million. He is a YouTuber. The father got a little upset when he heard the fake balance.

So if your 16 year kid had a million dollars in the bank, how would you feel? Would you feel you were entitled to know before hand? Would you make them start contributing to things like rent and food? Would you only make them start paying for luxury things like their car, gas, insurance, trips out with friends etc? Would you stop giving them money like you did before?

How would you proceed?

I wouldn't think much of it if that's his hard earned money. As a father I would be proud, now it's a different situation if you're struggling to keep up with bills and while he's living at home with me, he doesn't help out.

 

[S416905]

Happy for him. I don't expect a 16 year old kid to contribute anything monetarily to the household so no reason to be mad

 

[angrymime666]

So there was a prank that a kid played on his father that started an online debate.

Kid called a fake bank on speaker to get his balance. It was over a million. He is a YouTuber. The father got a little upset when he heard the fake balance.

So if your 16 year kid had a million dollars in the bank, how would you feel? Would you feel you were entitled to know before hand? Would you make them start contributing to things like rent and food? Would you only make them start paying for luxury things like their car, gas, insurance, trips out with friends etc? Would you stop giving them money like you did before?

How would you proceed?

Yes I would charge them current market value for a room for rent. I would not pay for anything. The goal of parenthood is to raise a responsible and independent child. By charging them rent it forces them to understand money and promotes independence by moving out for other options. They are 16 so as a parent you are responsible for them as per csfa, but it makes sense to give them responsibility.

 

[Sonic Temple]

I would ask for some so I can hobby more often - would def. be proud though.

 

[Knuckle Ball]

I dunno…It’s not a matter of entitlement; it’s more a matter of parenting and your relationship with your kid. Like…how is it possible that your kid acquired this much money living under your roof and you had no clue what was going on? That just seems hard to imagine if you have a healthy relationship,with your child.

I would think the kid would be discussing what they’re doing with their parents and the parents would be supportive. I would think the kid would be proud of what they’re doing and talking about it with anyone who will listen. So…either the parents are functionally absent from this kid’s life…or they are estranged for some reason and the kid is literally living a secret life while living at home.

The only other scenario I can imagine where this could happen would be if the kid was doing something illegal. Maybe he’s some sorta junior crypto bro who cashed in at the right time?

No matter how you look at it, something has gone sideways in this family if the kid is a millionaire and the parents don’t even know.

 

[Adam_hadam]

So there was a prank that a kid played on his father that started an online debate.

Kid called a fake bank on speaker to get his balance. It was over a million. He is a YouTuber. The father got a little upset when he heard the fake balance.

So if your 16 year kid had a million dollars in the bank, how would you feel? Would you feel you were entitled to know before hand? Would you make them start contributing to things like rent and food? Would you only make them start paying for luxury things like their car, gas, insurance, trips out with friends etc? Would you stop giving them money like you did before?

How would you proceed?

Mutually agreed upon rent. Million in the bank means $5k per month is a good number to start the negotiation.

 

[xix]

 

[Mr Deeds]

A million doesn't get you much in the realistate world so I'd make him pay for expenses so he can save more I'm not looking to make a profit from him.

 

[Bucktee]

I'd give him advice on how to protect and grow that money, and learn about how he earned it and encourage him to continue doing so.

Your kid doesn't owe you anything. You brought them into the world. You owe them everything at least until they become adults.

If you have open communication and a solid relationship, your kid will contribute if they feel you need assistance.

 

[Jenesis]

I dunno…It’s not a matter of entitlement; it’s more a matter of parenting and your relationship with your kid. Like…how is it possible that your kid acquired this much money living under your roof and you had no clue what was going on? That just seems hard to imagine if you have a healthy relationship,with your child.

I would think the kid would be discussing what they’re doing with their parents and the parents would be supportive. I would think the kid would be proud of what they’re doing and talking about it with anyone who will listen. So…either the parents are functionally absent from this kid’s life…or they are estranged for some reason and the kid is literally living a secret life while living at home.

The only other scenario I can imagine where this could happen would be if the kid was doing something illegal. Maybe he’s some sorta junior crypto bro who cashed in at the right time?

No matter how you look at it, something has gone sideways in this family if the kid is a millionaire and the parents don’t even know.

Not necessarily. I said he was a YouTuber. Many parents wouldn’t know exactly what the kid is making on a platform like that.

He could be a gamer and making money. Many parents wouldn’t know the amounts there either.

I mean I get what you are saying, but there is some room for a parent not knowing and not be an absent parent as well.

But this is not the topic. What would you do?

 

[Knuckle Ball]

But this is not the topic. What would you do?

If my kid suddenly turned out to have $1 million in the bank it would change nothing in terms of my sense of commitment/responsibility to my child. I would not expect a cut of the money nor would I start charging him rent or anything else.

My commitment to my kid would be to financially support him to the best of my ability up until he completes his undergraduate university degree so that is what I’d do. If he stops attending school and wants to work full time on being a YouTube content creator I’d be fine with that too but I’d expect him to start paying room and board if he was not in school.

Overall, I’d be happy for my kid and try to support him as best I could.

 

[xix]

As #10 & #12 stated plus I invest in him if I have some lying around.

 

[speakercontrols]

Congratulation him on getting it and congratulate him for keeping it a secret. Both good things to do.

 

[opieshuffle]

A Ferrari... just buy and insure a Ferrari for me... I'm a simple man!