Looks to me they ended up with a self-centered entitled spoiled brat. Too much parental understanding (+ public education) and not enough discipline.
It sounds like he’s establishing more onerous conditions for the kid to start a business than he would have imposed on his college selection and admission process.
As for this father, sounds proper to me, especially if the mom agrees.
“Starting a business” sounds like “blowing the money on stuff I want”.
Like Paul McCartney once said, “Give your children enough to do something, but not enough to do nothing.”
Good for dad!
my oldest squeaked by in high school and wanted me to pay for her to attend a small college.
I said no.
why would i pay when you did not do your work when it was free?
She joined the Navy. it all worked out.
Like I told my kids. Just because I put money away for them to go to college doesn’t mean it is their money to do as they please with.
If the son literally did call his parents “A-Holes” for setting condoms about that money, that son is extremely disrespectful. The dad may have only meant there was vigorous disagreement from the son. Each family has it’s own rules about what acceptable behavior means.
I think it’s a good idea that the parents aren’t giving the kid the money now, seems likely it would just be wasted. Who knows, maybe in a few years that kid may well change his mind and decide to take some schooling. Happened to me (without the free $$, of course!).
The fact the son called his dad a SOB should put a stop to him getting one penny of the fund. Use the money for retirement, parents. Your kid deserves nothing.
What business was the boy thinking of starting?
Something stupid like being an ‘influencer’ or blogger? Not that that is exactly stupid but only a few succeed to where they make good bank.
As a young enthusiastic new member of a small family business, I decided that it would be worthwhile to enhance my engineering degree with some formal business courses.
I was allowed to take 400 level courses at will. What I learned was that the courses were all about the large or very large corporate culture and mostly inapplicable to our small company.
We could never afford to build a huge college fund for our kids. We told them we would loan them the money if we could.
Three of the four attended college, two were two year degrees, one was a four year engineering college. All have paid us back.
The one with the four year degree paid off all his loans within a year. That’s the benefit of earning a degree that actually includes well paid job prospects.
Give the kid time, he'll figure out what direction he wants to go in. Once he does, then release the monies to help him in his endeavors.
After I graduated from HS, I enrolled in a local community college just because I had no idea what I wanted to do. I had a part time job that fall and winter so I paid my own tuition. After missing most of my classes playing cards in the cafeteria, my parents decided I should enlist in the Army and drove me over to the local enlistment center. So in April '69, it was off to basic training.....
I agree with the father but I do not agree with him airing the family’s dirt on social media.
So, get him in a trade or tech school and help him start a business. College screws up more kids than it helps!
We’re seeing lots of that these days.
His money, his rules. It is earmarked for a college fund. The mistake the father made is to tell him about the fund in the first place.
I had a fund for my son, never told him about it, not even his mother. He went to school on a scholarship, didn’t cost much for me but it did cost him commitment to serve in the military. When he graduated cum laude with an engineering degree, pre-med qualifications and a minor in German and had been out a year I wrote him a check, the money was meant for him. He used the money wisely but I expected he would.
Had he decided something else like starting a business, I’d have done similarly to what this father did. After 40 years I do not have a spoiled, mindless, brat.
The ‘business’ he wanted to start was a new car, apartment, b!tches, drugs, booze and blow. The rest he would have just pissed away. That money would have been gone in a year.
Good on dad....