Quote:
Originally Posted by fotze2
I think it depends on the kid. I was useless at that age and stayed at home.
Did help for down payment and all that earning during internship. My kids are very independent and their dickhead grandparents gave them each $100k many years ago for the purpose. We barely use the RESP and are advised to take more than he actually uses. They don't even know they have a slush fund. He is very thrifty, the next one will be a nightmare but he might not have marks to get into school anyway, haha.'
I think it would have been better if I went away or lived on my own, definitely would have had more fun.
|
Yeah, I did two years off after high school before university. One year worked at Lake Louise and lived on the mountain. That was fkn epic. Next year I did the European backpacking thing and worked a few jobs.
My thought on gap years is if you aren't going to go back to school, you likely wouldn't have stayed in, anyway, so wasn't something I worried about for myself.
It's all financial, though, for me. If the numbers don't allow it (and by that I mean you need to do it without debt while still meeting your other goals like retirement savings and down payment help, which I think most young people will require now) then it's moot. Can't afford it then can't do it. End of conversation.
If the numbers allow it, then yeah, living away from home as a young person rules.
Yeah, we're just withdrawing maximum allowable amount from the RESPs now, too. More than is necessary, but the whole point is to scoop that 20% government matching, so withdrawing every cent put in is my goal.