What’s the best gift for grandson entering USC?
- Thread starter vacock
- Start date
If he had a summer job this year or a part time job during the semester, set up a Roth IRA for him and fund it to the extent you are able, up to his annual earnings or $7500, whichever is greater. Assuming he's 18 years old, he'll be growing retirement about 10 years before most people even think about funding retirement. By the time he's 59 1/2, your gift will have doubled between 5 and 6 times if it's invested in an S&P index fund. If you can only muster a $1K contribution for him this year, it will grow to between $32K and $64K by the time he retires. That's powerful stuff. If you can muster a $3K to $5K contribution . . .
Just had 2 graduate from USC in the last 3 years.
Best gift I gave each of them was to go down and take them to lunch about once every 2 weeks. Of course, that was really a gift to myself.
One of mine wanted to go once every 2 weeks. My son who graduated this year, he wanted to go every week with me- usually on Friday. Then we would run by the grocery store and I'd buy him groceries for the week.
I would hope the dorm would be evacuated until fumigated if bed bugs are found.
I bet it also comes in handy if you want the elevator to yourself.
Congrats, in the entire time you've been on this board, this is the first post I not only agree with, but dont think was written by some college intern for the Democratic party.
As long as either me or my wife are alive, none of our grandchildren will be short of cash while going to college. I know my children will have them covered. But, we will be their backup plan. In the meantime, we will be sending them money periodically, regardless. My oldest is starting college this week. He told me his girlfriend spends money as soon as she has it. I told him, "Welcome to the real world". 
He probably needs a new girlfriend ....As long as either me or my wife are alive, none of our grandchildren will be short of cash while going to college. I know my children will have them covered. But, we will be their backup plan. In the meantime, we will be sending them money periodically, regardless. My oldest is starting college this week. He told me his girlfriend spends money as soon as she has it. I told him, "Welcome to the real world".
As long as either me or my wife are alive, none of our grandchildren will be short of cash while going to college. I know my children will have them covered. But, we will be their backup plan. In the meantime, we will be sending them money periodically, regardless. My oldest is starting college this week. He told me his girlfriend spends money as soon as she has it. I told him, "Welcome to the real world".
My son asked about how much money is needed for spending money at college.
I said that there are two major expenses, beer and women. He doesn't appreciate drink like I did, so hes down to "just" needing money for women.
He's taking out multiple loans.
Money for treating the ladies would cover both.My son asked about how much money is needed for spending money at college.
I said that there are two major expenses, beer and women. He doesn't appreciate drink like I did, so hes down to "just" needing money for women.
He's taking out multiple loans.
Not sure about that. I met her. She is VERY pretty. That said, they are going to universities at the opposite ends of this state. So, he won't be spending money on her except on breaks or the summer.
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