A devoted father saved up substantial college funds for his two children – which they never used. Years later, when the kids had all grown up, he decided to cash out those savings to secure an early retirement. His kids are livid about it. Did the father make the right call? Here’s the full scoop:
His Kids Both Have College Accounts
The Original Poster (OP) explains that he has a college fund for both of his children. They’re substantial, too. Each one contains around $50k.
They Never Needed the Money
The reason there’s still so much money in the college funds is that they never got used. OP’s son attended trade school, which was “relatively cheap.” And (before dropping out) his daughter went to a community college that was inexpensive, too.
The Kids Are Set
Ultimately, OP was left with two accounts full of money that weren’t being used. Not only that, but the kids didn’t need the cash. His son makes six-figures and his daughter married into money. To OP, it was obvious what to do…
He Used It For His Retirement
OP decided to empty both accounts to put the money toward his retirement. Unfortunately, that decision didn’t go down well with his kids…
They Weren’t Happy
Everything came out at a recent dinner, when they asked how he could afford to retire early. OP told his son and daughter the truth. They were livid. Apparently, they “still deserve the money.” Despite the fact it was for college and they never contributed to the savings, they felt entitled to the cash.
Was OP In the Wrong?
His kids accused OP of being a d*** for empting their college accounts. But OP can’t see the issue. That’s why he wanted a second opinion. What did Reddit think?
Reddit Was On His Side
People on Reddit thought OP had nothing to apologize for. The top comment said: “You paid for their education with your money. Whatever is left over is yours to do what you want.”
He Shouldn’t Have Said Anything
If people on Reddit thought OP was wrong about anything here, it was for telling his kids what happened. As one Redditor wrote: “Yeah, there was no need to tell them anything, lol.” Another said, “why on earth would you tell them there was money left over and you were going to take it???”
They Shouldn’t Expect Any Money
Other people honed in on the fact the money had been used for its intended purpose, which makes the leftovers OP’s to do with as he pleases. One said: “It turns out that you oversaved for what they actually spent. It’s silly, particularly for the college dropout, to sincerely believe that they should get the leftover money.”
What Do You Think?
So what’s your perspective? Was OP wrong to empty the college funds he’d saved for his kids? Were they right to be annoyed about it? Or was his decision to use that money for his retirement justified? Drop a comment with your thoughts!
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