Thursday, February 24, 2011

Entitlement and Parents

I read the following comment at College Misery today that made my hair stand on end:
I recently learned my parents gave my younger brother $40, 000 so that he could buy part of a regional airport. These are the same parents who paid $50,000 less for my college education than they did for his, and who told me two years ago that there was no way I could live with them or borrow money from them since they didn't have any.
Some people's sense of entitlement is really scary. They forget that the moment when they reach the age of 18 their parents don't owe them anything any more. If your parents are willing to support you financially after that, that's great. They are not, however, obligated to do so in any way. They have the right to dispose of their money, the money that they made for themselves, in any way they wish, and nobody, in my opinion, has the right to dispute their choice and feel resentful about it.

If I were to discover tomorrow that my parents gave $40,000 to my younger sister so that she could buy an airport or anything else, I would be very happy on two accounts. First, that my sister had the money. And second, that my parents were in good financial shape that allowed them to make this kind of gifts to whomever they chose. As I was growing up, I was always told by my parents, "The only money that is truly yours is the money you made." This was a very valuable lesson as it taught me never to desire or begrudge anybody else's money.

Many people tend to see their parents as property that belongs to them and that has no life, will or desires of its own. Parents are people, too. They are responsible for their children's well-being until the children reach the age of majority. After that, they have no financial obligations to their children. 

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