A rich dad sparked outrage on Reddit when he revealed that his teenage son wanted to use his hefty college fund to start a business. When Dad said no, all hell broke loose. Here is the full story.
They Started Early
OP is a 48-year-old man with a son who recently graduated from high school. They’re not stressed about paying for school, though.
As soon as OP and his wife found out she was pregnant, they started a college fund.
He Was Done with School
As a result of paying into the fund all those years, OP’s son had $400K waiting for him to pay for his college.
The problem was, he decided he was done with school.
Dad Had Some Advice
OP was fine with that and told his son it was his life to live.
But he did offer his son some options, including trade school or coming to work in the family business.
He Had Other Plans
The young man didn’t want any part of those options, though.
Instead, he wanted to use the money OP had set aside to start his own business.
They Could Make It Work
OP told his son that he was okay with that plan, but with a couple of conditions.
He Didn’t Know What He Was Doing
First, OP wanted his son to take some business and law courses at the local community college so he would have a better understanding of how to run his new company.
He Needed to Do Some Prep
And second, OP wanted his son to develop a business plan for mom and dad to review before the kid got rolling with his new company.
He Would Be Free and Clear
If his son completed those tasks, OP would let him use the $400K to start his business.
OP would even pay for the college classes on his own dime, not touching the nest egg at all.
They Had Different Ideas
OP and his wife thought it was a fair deal and would get their son where he wanted to go, but the young man had other ideas.
They Were Holding Him Hostage
In particular, OP’s son said that his parents were holding his money hostage just to make him do what they wanted him to do.
But the parents are just trying to help his son set up a business that has the best chance for success.
He’s Been Down That Road
OP knows the sorts of pitfalls that his son might run into on his own. He himself went to work for his father-in-law while he was still in high school and didn’t even get his GED until later on.
He Got Lucky
Without the father-in-law’s support and guidance, OP knows he would have struggled. And he appreciates that he owes his nice lifestyle to the business his FIL handed over to him.
He Wants to Pave the Way
OP is just trying to give his son the same sort of advantages and readily admits that the boy is spoiled. OP says he and his wife have always given their son a good life and pretty much let him do what he wants.
He Kicked Them in the Teeth
Prostock-studio
That’s part of why it feels like such a kick in the teeth now when his son tells OP and his wife that they’re being controlling.
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The post He Wants a Blank Check to Use His College Fund, but His Parents Have Conditions first appeared on Career Step Up.
Featured Image Credit: Shutterstock / Krakenimages.com. The people shown in the images are for illustrative purposes only, not the actual people featured in the story.
Source: Reddit
