If you've ever heard the tale of the prodigal son, you know that father's love their children no matter how financially irresponsible they are, but in reality, how far does that love go? When you come from a rich family, that love is (unfortunately) quantifiable in the form of crisp dolla dolla bills. For some reason, rich children feel that they're entitled to the entirety of their parent's fortunes and don't ever realize the value. One wealthy father of teenaged twins attempted to teach both of his children a valuable financial lesson…
…which backfired almost immediately.
This father decided that he would teach his young kids about investments and gave them each a lump sum at a young age, promising to guide them on wise choices so they could watch their money grow and use their earnings for college– which is an unconventional approach to earning your way through college, but a smart one if done correctly. Well, the father connected really well with his daughter who became extremely interested in the investment process. She saved her allowance, invested more, and made more money. Success!
The son of the other hand, almost immediately squandered his college fund (literally), by going against his father's advice and making risky decisions. Then he completely gave up. Instead he spent his allowance on clothes, going out, and frivolity, saving next to nothing for college. Oof.
This put the father in a bind when they reached college-age. Should he bankroll the son's college tuition anyways (even though he threw away his savings), or should he stick to his commitment, thus rewarding the daughter's shrewdness?
Naturally, he favored the daughter and now the Internet is in a tizzy trying to decide if he's the AH or not. What do you think ?
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