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Jim
 
My parents have 3 children and 10 grandchildren (currently), 7 of whom came from me. Just last weekend my Dad asked me how much money I was putting away for future Christmas gifts, birthday gifts, etc. I said I wasn't other than general savings. He said if his 3 kids produced 10 grand-kids, then my 7 kids could easily produce 21+ grand-kids. He then told me I better start saving because holidays were going to cost me a fortune!
 
Jim those kids all look adorable.
ry
Sentry I can see what your father is saying. I have so many now between grands and great grands we don't even try to buy gifts for all BDays anymore. We see something one might like and we send them that and try to make sure they all get something.
These kids have rooms full of toys and gadgits so why throw away money? We do help those who are grown and struggling long as they help themselves. There is 22 of them now and about to be 23 in June. 10 of which are grown.
 
zoomzoom said:
I'm in my mid-50's and I see no grand kids in the next several years. We had our kids late so they're still under 21 right now.
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Well once they start coming they come in crowds in our case. Little toddlers and kids are such a joy in short does once we pass 60. My first grandkid I was 37 so still had lots of energy to deal with the coming flood. Not so much with great grands.
 
zoomzoom said:
Yea, I expect we'll be seeing a lot of the grand kids once they come since the wife and I will both be retired before they're even born so I'm sure our kids will exploit our availability.
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Oh yes if they are anything like mine they will. Of course since we moved to Florida I asked to keep them all summer so we could see them and know them. So my kids got a break for 2 1/2 months at a time for summer and spring break 2 weeks from their kids. Plus they visited too when they could get off work. We had lots of fun teaching them things and taking them places on our vacations.
They all grew up and hardly come around or call now so life goes on without us since we moved away years ago.
 
Sentry18 said:
My parents have 3 children and 10 grandchildren (currently), 7 of whom came from me. Just last weekend my Dad asked me how much money I was putting away for future Christmas gifts, birthday gifts, etc. I said I wasn't other than general savings. He said if his 3 kids produced 10 grand-kids, then my 7 kids could easily produce 21+ grand-kids. He then told me I better start saving because holidays were going to cost me a fortune!
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Just tell your dad that you already have all their gifts purchased. They each get a gun and ammo each year after that.
 
With children having so much stuff these days, I think it would be better to start savings accounts for them, to save money for college, instead of giving more and more stuff, if one has the money to do so. Even $20 here and there can add up in 18 years.

I had a student who had such an account when she was very young. I always thought she should be a litigator because of how she loved to argue and debate. I don't think she ever went to college. I wonder what happened to her college fund?
 
Weedygarden said:
With children having so much stuff these days, I think it would be better to start savings accounts for them, to save money for college, instead of giving more and more stuff, if one has the money to do so. Even $20 here and there can add up in 18 years.

I had a student who had such an account when she was very young. I always thought she should be a litigator because of how she loved to argue and debate. I don't think she ever went to college. I wonder what happened to her college fund?
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We use to give the grandkids a card, the look on their face and the sad thank you put a stop to that but we got a hug at least.
The great grand kids don't mind letting you know where you can stick that card. A hug will cost you.
Our grandkids always liked the trips we took them on and I told them if we bought gifts we couldn't afford these trips,so they said we like the trips the best.
They spent a lot of summer's with us and trips to the beach. A few mountain trips one snow skiing. And snorkeling in The Keys. Lots of camping trips in the mountains , lots of roller skating and a couple live performances at the Fox Theater.
 
Weedygarden said:
With children having so much stuff these days, I think it would be better to start savings accounts for them, to save money for college, instead of giving more and more stuff, if one has the money to do so. Even $20 here and there can add up in 18 years.
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Since we started having kids we have asked EVERYONE to set their budget for Christmas, Easter, Birthdays, etc. and then put 50% in their education IRA and spend the other 50% on gifts. Pretty much every grandparent, aunt, uncle, cousin, etc. will now send or hand over a card that will say something like "$50 to IRA" in it somewhere. And yes, we do the same thing too. We also put in money when we get things like income tax returns, salary bonuses, inheritances, etc. Our oldest went to a technical college for 2 years and it was 100% paid for by her educational fund. And that included living expenses, books, fees, tuition, etc. She even had a few thousand left over that she added to her long term savings for an eventual down payment on a house. Our next oldest has enough to attend either a tech school or community college all expenses paid or he can go to a 4 year college and it will cover books, tuition and fees. None of our children will have educational debt unless they decided to get a PhD or something.
 
I only have 2 grand kitties. I don't like cats at all which apparently these two can sense because they pretty much stay away from me when I visit. I presume cat ownership is just another side effect of my daughter marrying a fire fighter. My wife (who also does not like cats) is just fine with it as she is in no way ready to cross over into grandmother territory. We probably have some time as our daughter and son-in-law are still very career focused right now and they are both wanting to be settled into a house before having kids.

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Sentry18 said:
Since we started having kids we have asked EVERYONE to set their budget for Christmas, Easter, Birthdays, etc. and then put 50% in their education IRA and spend the other 50% on gifts. Pretty much every grandparent, aunt, uncle, cousin, etc. will now send or hand over a card that will say something like "$50 to IRA" in it somewhere. And yes, we do the same thing too. .
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We do something similar.
 
Sentry18 said:
Since we started having kids we have asked EVERYONE to set their budget for Christmas, Easter, Birthdays, etc. and then put 50% in their education IRA and spend the other 50% on gifts. Pretty much every grandparent, aunt, uncle, cousin, etc. will now send or hand over a card that will say something like "$50 to IRA" in it somewhere. And yes, we do the same thing too. We also put in money when we get things like income tax returns, salary bonuses, inheritances, etc. Our oldest went to a technical college for 2 years and it was 100% paid for by her educational fund. And that included living expenses, books, fees, tuition, etc. She even had a few thousand left over that she added to her long term savings for an eventual down payment on a house. Our next oldest has enough to attend either a tech school or community college all expenses paid or he can go to a 4 year college and it will cover books, tuition and fees. None of our children will have educational debt unless they decided to get a PhD or something.
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Sentry your family is one in over a million. Your truly blessed to have such a family. :thumbs up: Most of us with kids,grand,greats, nieces, nephews uncles , aunts,grands can't afford $10,000 a year for gifts and banking accounts .:huh: :)
 
Meerkat said:
Sentry your family is one in over a million. Your truly blessed to have such a family. :thumbs up: Most of us with kids,grand,greats, nieces, nephews uncles , aunts,grands can't afford $10,000 a year for gifts and banking accounts .:huh: :)
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I can't afford $10,000 a year and we live far below our means. Their accounts get perhaps $1,000-$2,000 a year deposited and invested and that is a group effort by more than a dozen people who would otherwise be spending that money on toys or treats or trips. My kids get less presents because of it and they will never see Disneyland or Europe, vacations for them are spending a week with their grandparents or day trips to the lake. They all wear hand-me-downs, my youngest son's bike is pink (okay was pink) and my daughter's Easter dresses are all made by their mother. But trinkets, clothes, and kid-vacations are fleeting and forgotten, but a good (marketable) education can provide them so much more for so much longer.
 
Sentry18 said:
I can't afford $10,000 a year and we live far below our means. Their accounts get perhaps $1,000-$2,000 a year deposited and invested and that is a group effort by more than a dozen people who would otherwise be spending that money on toys or treats or trips. My kids get less presents because of it and they will never see Disneyland or Europe, vacations for them are spending a week with their grandparents or day trips to the lake. They all wear hand-me-downs, my youngest son's bike is pink (okay was pink) and my daughter's Easter dresses are all made by their mother. But trinkets, clothes, and kid-vacations are fleeting and forgotten, but a good (marketable) education can provide them so much more for so much longer.
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Pleas stop, I can't take it.:cry:. Your still blessed and this makes you even better than I thought ,lol.

All kidding aside it would cost us a lot to buy all these kids gifts much less savings. But I think it is a great way to live and rasie a family, so :green man:to you and the wife. :thumbs up:
 
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