RULE 105
Leave the strings off
One of my friends has a wealthy family who helped her to buy her house by giving her a very low-interest mortgage. Recently she decided she wanted to sell her house to go and live abroad, and buy somewhere in Switzerland. Her family told her they’d call in the loan when she sold, because they didn’t approve of her decision. However, if she moved to somewhere they approved of, they’d allow her to take the mortgage with her.
Please don’t do this to your kids. It’s patronising, controlling, and if I think about it too hard it makes me very angry. Either you trust your kids with money or you don’t. If you don’t, back off and let them get on with their lives alone. If you do, let them have the money and do what they ...
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