Son Eyes His $500,000 College Fund for Business Plan

Many parents secure their child’s future with a college fund. Saving money over time ensures they have financial support when it’s time for college.

They Raised a Substantial College Fund

education saving

But what happens when parents’ expectations don’t align with their child’s plans? A father sought advice on how to navigate this issue—and what to do with nearly half a million dollars.

The Father Had a Rough Childhood

bad childhood

The father opened up to Redditors about his difficulties. Raised in an abusive household, he ran away from home at sixteen years old. In order to sustain himself, he took payment “under the table” for jobs he was too young to hold legally.

He Married into Wealth

in love couple

He met his future wife at one of these jobs. She was the boss’s daughter. Once they married, his financial situation dramatically improved. When it came time for his father-in-law to retire, the couple inherited a house and a booming business.

He Wanted The Best Life For His Kids

father and son bond

Even with his new life, the father never forgot what it was like to struggle. When his wife became pregnant, he was determined to give his child a better life. Together, the couple started saving a college fund for the boy’s future—a fund that would reach $400,000 by his high school graduation.

Neither parent believed in telling their son what to do with his life. “We may have guided him as any good parent should, but since he’s still young, we let him make his decisions,” the father wrote.

They Treated Their Son Very Well Indeed

father staring at son

They did not push for academic excellence, force their son into sports, or pressure him into artistic endeavors. Things were always the boy’s choice, first and foremost. “I didn’t even get my GED and go to college until I had my kid,” the father confessed, “so I spoiled my kid like I wish I was spoiled.”

The Son Had Big Plans For The College Fund

son breaking down

Upon graduating, their son told his parents he did not want to go to college. He rejected the idea of trade schools as well. He didn’t even want to work in the family business. As always, both parents accepted the decision—until their son requested access to the college fund.

He wanted to use the money to start a business of his own. While his parents did not reject the idea outright, they set a few stipulations. He could use the money if he took business management, accounting, and law classes at the local community college.

They Were Willing To Support Their Son

father supporting son

Their goal wasn’t to discourage their son. Both parents wanted to make sure he had the right tools and knowledge to start a business so that he did not accidentally squander the money.

The father even promised to pay for the classes out of pocket instead of pulling from the college fund. He also requested a “well-made business plan” before giving the money. His wife agreed 100%.

The Son Was Angry

son not wanting to hear dad

The son called both his parents a***oles for “holding his college fund hostage to make him do what [they] wanted.” The father felt they were merely doing what was best in order to make sure their son’s business succeeds.

Was He Wrong?

son turning away from dad

Due to his traumatic upbringing, the father wanted to avoid repeating his parents’ patterns. “I live in fear of doing something that could make me like my parents,” he prefaced before asking Reddit for advice.

Social Media Reacted to The Story

social media likes

Users supported the parents’ decision. Many commenters felt the parents’ conditions were very reasonable. “Most small businesses fail in the first year,” a user told the father, “[owners] fail to have properly thought-out business plans with cash flow projections, don’t know how to keep track of incoming and outgoing money accurately, and don’t know how to meet legal obligations (tax, health, and safety, etc.). Any one of those reasons can contribute to failure.”

It is Your Savings At The End of The Day

teen writing in notebook

Another user offered perspective on the situation, “It is not ‘his’ college fund. It is his parents’ money saved for his future.” The user added, “The classes seem a bare minimum safety [precaution] before handing a teenager almost half a million dollars,” and suggested the father provide segments of the fund only as the business meets certain benchmarks—advice the father plans to follow.

Users Hoped It Would All Work Out

education fund

Clearly, the father is incredibly generous and cares deeply about his son’s future. Users wish his son and the family success in his choices regarding the substantial fund.

Read More: The Worst Things Teachers Have Confiscated

woman teacher picturing something

Teachers have seen it all. So we asked them: what was the worst thing they had ever confiscated from a student?

Their answers would be enough to put you off the teaching career for life.

Read Now: The 20 Worst Things Teachers Have Confiscated From Students

Read More: She Didn’t Want Her Son To Sleep At His Girlfriend’s Because “Something Felt Very Off”— And She Was Right

teen relationship

To a child, parents’ rules and restrictions may seem arbitrary and controlling. While the occasional rule might be strict, hindsight usually reveals that—more often than not—a parent’s intuition was right.

Read Now: She Didn’t Want Her Son To Sleep At His Girlfriend’s Because “Something Felt Very Off”— And She Was Right

Read More: Dad Let His Son Take “Toy” To Show and Tell, Not Knowing What It Really Was

father and son playing

When Mom’s away, Dad and son will play.

Read More: Dad Let His Son Take “Toy” To Show and Tell, Not Knowing What It Really Was

Read More: Teaching or Chatting?

smart student

Did you know that up to 45% of all Americans have a side gig? Do you?

We found probably one of the most enjoyable, rewarding ways to earn money by teaching (chatting) with those who want to learn English online. Log in any time you want, 24/7, and get paid weekly for the hours you put in.

Learn More: Cambly 2023 Review, Requirements & Pay For Tutors (Beginner Friendly)

Read More: 20 Most Dangerous Universities in The U.S. Revealed

2ZuJxJ9aY830kHK736otwC3iZdDZp6yZpX9Dt YALUZvXUn5stPRxkAtLcwrLbFI1vuHu5ZYp5M AHq8WD6 6w7jbN5muLWgHwLfubn tCkquAt02Wy9BDwhlPW1T2GCt 6P5OCGVzG0SGOnJNE5cmk

It is often that individual’s first time living away from their parents; some students even travel to an entirely new state for school. With such distance from everything and everyone they know, it’s important for students to choose schools that are—among other things—safe.

Read More: 20 Most Dangerous Universities in The U.S. Revealed

This article He Wanted to Use His College Fund To Start a Business And Accused His Parents of “Holding The Funds Hostage” was produced and syndicated by TPR Teaching. Reddit source.

Caitriona Maria is an education writer and founder of TPR Teaching, crafting inspiring pieces that promote the importance of developing new skills. For 7 years, she has been committed to providing students with the best learning opportunities possible, both domestically and abroad. Dedicated to unlocking students' potential, Caitriona has taught English in several countries and continues to explore new cultures through her travels.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments