So I woke up yesterday to the news that my wifes parents are (un confirmed) giving us $50,000 to help buy a house some time in the near future. And I know what our thinking "25 what the hell is wrong with you! take the damn gift!!!" I am trying to not take this gift. Its wierd, people see 50,000 and I see golden handcuffs. I dont have the best outlook on charitable family acts. I also dont think I will be able to not take the money as my wife is more willing. This isnt a bad thing! im just conflicted. Every close friend I have has bought a house off the back of some parental help. I just pride myself on my ability to be "self made". that pride will get in the way of things. In saying all this my wifes plan is to use the money to fill accounts during our search $XEQT in out FHSA and Probably our TFSAs. Im not sure if we will be putting any money in $VEQT and our rrsps as i wont be withdrawing it anytime soon for a perchase. I was thinking $ZMMK or $CASH if we are put on a time limit. I dont know
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6 Comments
Nicholas
@nicholaslovesgold · 1h
I understand not wanting to take help, but that what family is all about. We are working so hard so maybe we can do the same thing for our kids. Imagine them not wanting to take it?
EVID Wealth@evidwealth · 17m
Don’t let “being self made” become the handcuffs 😉 Perhaps look for houses that you could still comfortably afford without the gift, and use that money towards a larger down payment OR to simply leave more money in the market.
Alessandro @alessandro.invests · 49m
I’d like to think I’m self made (only card I was handed out was being able to live with parents into my mid 20s) Looking back I’d take the $50k in exchange for being able to call myself less self made Others inherit millions, or have their parents buy them à house I’d take the help
Ivan Kurt@phil_nadian · 4m
Your wife is Asian right? That’s definitely a genuine gift.
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