Should kids pay board, page-10

From birth I was fortunate to put away $100 a month for each of my 2. Mine are now 23 and 20. Countess won't let me charge board.

Every year I'd buy a stock - household names, supposed blue chips like banks, Coke, BHP etc. Put some into riskier and had mixed success. Stopped that when they turned 18 and transferred the shares into their own names. They have the basis of a diversified portfolio mostly reinvesting dividends outside of Super.

From 18 they both had part time jobs so I started charging them $40 a month for their phones. I'd put that into their Super accounts and then let the Govt add their bonus. Still do that today. From January I have said that stops and I will only contribute an equivalent to what they save or put into Super, up to $50 a month - whilst they are living at home. So does that mean they are charging ME board to stay at home?

Daughter is a newly qualified teacher and Son is finishing Economics degree and we don't talk a lot about money, but they have decent building blocks and are heading in the right direction. My role is to educate them so they can forge their own path.

Cheers,
TC.