Admiral Beez
Superstar
My grown kids are still living with me. Should I ask them to pay rent?
Having your adult kids contribute instils financial responsibility and prepares them for the next stage of life.
www.thestar.com
My kids are soon to graduate university and hopefully launch themselves into the world. I’ve recommended that once they’re working full-time both live at home rather than paying someone else’s mortgage. We will never charge them rent, as they don’t cost us anything other than a little extra on food, electricity and hot water. They’re both very hardworking and save into their TFSAs, so it’s not like I need to teach them a life lesson or withhold rent money to return later. I have told them both that my expectations upon graduation are as follows: start a career (no unpaid internships, if you work, it’s for money), network like mad, save as much money as you can for a downpayment on a home of your own (ideally land, not a box in the sky), and last and most importantly, enjoy life, see it as an adventure rather than something to endure. These kids are my life project, I could never take their money.
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