What have these 3 offspring been doing with the 40K/year combined she's been gifting them? Perhaps they should consider setting up a separate fund to save for a house on their own. Hopefully, they haven't been using it to supplement a larger lifestyle than they can actually afford. She can continue doing this, but no way can she just give 100K x 3 on that portfolio.
I would not count the house. One earthquake or one fire and the market value for that house isn't going to be the same. (Fellow Californian here) We don't count the house.
We also cash flow gifts to our kids and I'm sure they would love a lump sum, but they really like the idea that they don't have to worry about us.
Continue small gifts she's been doing and let the adult children step up their saving and in a few years, they will have enough to buy a house themselves.
I would not count the house. One earthquake or one fire and the market value for that house isn't going to be the same. (Fellow Californian here) We don't count the house.
We also cash flow gifts to our kids and I'm sure they would love a lump sum, but they really like the idea that they don't have to worry about us.
Continue small gifts she's been doing and let the adult children step up their saving and in a few years, they will have enough to buy a house themselves.
Statistics: Posted by mrsbetsy — Fri Sep 27, 2024 8:58 pm