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Substance Abuse
Finally had "the talk" with- difficult child, not the outcome I expected, neither good nor bad
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<blockquote data-quote="Signorina" data-source="post: 495167"><p>Thanks everyone, I will just leave the money in the account where it hopefully will earn some interest. The kicker is that it just finally came back to it's cost basis, so if I paid the 10% penalty - we would actually be below our initial investment. We were still investing into it as recent as a year ago...if I had known then what I know now, I would've put the money in my sock drawer instead of my kids college funds. While I am open to the other kids having access to it -I will wait until they need it to change the beneficiary. I sent my difficult child off to college last year thinking he was well on his way to an educated, healthy adulthood. This scenario never dawned upon me - until it happened. Once burnt, twice shy...</p><p></p><p>But, I am leaning towards cashing the CD and putting the money in my account...so it won't be accessible to him when he turns 21 in the spring of 2013. I checked the balance and it is over 5000. I can play dumb and state "you wanted me to cash it, so I cashed it...just tell me to whom I should write the checks..." Give me your tuition bill and your landlord's address... and if anything else comes up, send me the bill and I will pay it until the money is exhausted." Paper trail and all...</p><p></p><p>And then run for cover LOL</p></blockquote><p></p>
[QUOTE="Signorina, post: 495167"] Thanks everyone, I will just leave the money in the account where it hopefully will earn some interest. The kicker is that it just finally came back to it's cost basis, so if I paid the 10% penalty - we would actually be below our initial investment. We were still investing into it as recent as a year ago...if I had known then what I know now, I would've put the money in my sock drawer instead of my kids college funds. While I am open to the other kids having access to it -I will wait until they need it to change the beneficiary. I sent my difficult child off to college last year thinking he was well on his way to an educated, healthy adulthood. This scenario never dawned upon me - until it happened. Once burnt, twice shy... But, I am leaning towards cashing the CD and putting the money in my account...so it won't be accessible to him when he turns 21 in the spring of 2013. I checked the balance and it is over 5000. I can play dumb and state "you wanted me to cash it, so I cashed it...just tell me to whom I should write the checks..." Give me your tuition bill and your landlord's address... and if anything else comes up, send me the bill and I will pay it until the money is exhausted." Paper trail and all... And then run for cover LOL [/QUOTE]
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Finally had "the talk" with- difficult child, not the outcome I expected, neither good nor bad
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