Over the holidays I spent a lot of time with family, especially the grandchildren who range in age from 7 to 26. Dinner conversations were lively & boisterous.
The topics centered around academics, sports & scholarships. Academics were a given because everyone was expected to do well & be on a honor roll or Deans List. Homework was not complained about except by the parents, who insisted there was just to much. Sports were a never ending discussion. The pressure to be the best was really amazing. Is this peer pressure or parent expectations for financial benefit?
The daily schedules the kids & parents have to manipulate are more challenging then any wedding planner would have to endure. Not mentioned yet are the community volunteerism projects needed to round out a good school application.
As the cost of education rises along with cost of living, scholarships become increasingly important. Lowering the stress levels of all involved -
needs to be considered.
Here is one suggestion, that if started early enough, could alleviate some of the pressures parents & children face.
If parents or grandparents bought an investment home when the child and/or grandchildren were young, and sold when the time for college arrived, the appreciation of the investment could be substantial.
The pros are: mortgage interest rates are the lowest ever in many, many years; the inventory of homes available to choose from is very high; sellers are willing to negotiate because of credit debt and poor decisions made in an unstable economy.
The only con I can think of could be - if you purchased the largest & most expensive home in the neighborhood. Your protection would be a a good Realtor, who can give you supportive info and opinions of the neighborhood with a CMA (Comparative Market Analysis).
Today....is a good day to start investing.
Timing is Everything -
4 days ago