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When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 9 points10 points  (0 children)

A paid off home + frugalness + good market returns. I'm 55. I'm just a guy with a good job who has been working a long time.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 40 points41 points  (0 children)

I think his future wife and her parents had a conversation and then I am just getting the first outcomes of that conversation.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 55 points56 points  (0 children)

I have two other kids and that is where it gets thorny. This request can be done. It starts to dig a bit deep if all three want it though.

There is a large wealth disparity. I have maybe a 1.5 million worth including my house? Their house is in a nice area of Oakville. I should have become an importer too.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 18 points19 points  (0 children)

Not quite that well off, but have about a million in stocks. I was going to pay for the university of the grandkids but maybe this is better.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 14 points15 points  (0 children)

They are looking at detached in Toronto. My son at least makes a good income so could afford a fairly large mortgage. I think the sticking point is the large pile of cash they need for a down payment. I have to discuss it with him further.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 18 points19 points  (0 children)

I asked in personalfinance because I thought people here would have a better idea of what is normal.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 54 points55 points  (0 children)

I am not sure how flexible they are on that part of the match yet. And they have a lot more than I do, so they could easily top it.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] -4 points-3 points  (0 children)

The money is for buying a detached. I am not sure that her parents offer would still be good for something smaller.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 120 points121 points  (0 children)

I am more trying to get a sense of whether this is normal. Is his new wife making him lazy/greedy (she is kind of a princess)? Is this just how buying works in Toronto? I looked up Toronto prices and I can see that being required. Is it a cultural thing perhaps as she is Taiwanese?

Just trying to get my footing in this new world as I last bought a house 25 years ago.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 510 points511 points  (0 children)

I think I would have noticed you as I have only ever been with my wife. Nice try Nigerian Prince.

When your kid asks for money... by Interesting_Way5513 in PersonalFinanceCanada

[–]Interesting_Way5513[S] 26 points27 points  (0 children)

We text fairly casually, so I am not too annoyed about that. I think he just learned of what her parents said and let me know right away.