Quote:
Originally posted by Dantilla
I like the idea of a yearly match. Set up a trust, and whatever the kid makes in a year, the trust matches that amount as that year's inheritance.
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My father did the same thing every year before family vacations when we were all pretty young. Any thing you could earn between the day school got out and the day we left for vacation, he'd match. The idea was just to provide spending money and encourage work ethic in the summer - not amass a family fortune.
With my oldest brother, the first experiment, my optomistic father agreed to TRIPLE what he earned. Well... that didn't work out so well. Apparently big bro worked his butt off mowing lawns and weeding neighbor's yards and the trebled amount was far more than anticipated.
In the following years, we all (all 7 of us) got the "vacation match" and the motivation was still there. But only big bro hit the triple.
Parental matching is good in any form provided the funds are available. I should also point out, that this happened when we were all pretty young - under 12. By 12 the boys had newspaper routes and the girls babysat. Once we all had jobs, Dad couldn't keep up with that kind of action with 7 kids.
