brought to you by the every dollar app start budgeting for free today so my wife and I recently had our first child she is a daughter which is awesome thank you and my parents live in Columbus Ohio which is about an hour and a half away and naturally they would like to see us in their grandchild more we are looking to upsize our home and we were looking in the Dayton area originally because cost of living we can afford it they then offered to give us an additional the difference between the prices of the home and date into Columbus that would go towards our down payment making it affordable we move to Columbus that sounded good it would be a gift not like a loan but then they mentioned that they would have to make it even and change the will slightly so that money was even with my sibling so I got $100,000 my brother would go $100,000. So then I started booking it as like an interest-free loan against myself in the future. You're saying because you're saying because if you had received it as inheritance you would have done what with it? Well it's not that I would have received it though with anything with it it's just that it looks like a borrowing from my inheritance which is weird because my wife and I worked really hard not to be and dead at all.
Well I wouldn't think of it as borrowing you're just getting a piece of it earlier yeah for something that you want to spend it on it's not okay so you think that's fine I do I feel like a gift very much though and as long as your parents in a good financial situation to give you this cash and it not hurt them yeah listen I hope that one day I mean one day I will be there when my kids buy a house and I'll be like here's some cash to put towards your down payment that's what I plan to do with Sam and so I don't think there's anything wrong with this if it's a place that you want to be it keeps the payment where you had it originally yeah for something no not at all I mean I mean if you get you trust their no strings attached you know that it is a free and clear gift and what's interesting Chris there's a book called die with zero and it's a really interesting read and one of his takes that majority of people cannot do a lot of people are not in your appearance position to have the cash flow to do something but he was saying in the book if you did that actually your kids would benefit more from your money in their 20s and 30s than they would when they're 60 and 70 when they received the inheritance so it's actually I would see it not as borrowing against your inheritance it's actually putting you in a better position 30 40 years ahead to get you getting your house paid off that much faster to invest that much more for your kids does that make sense like it almost is a better use of that money that earlier you get it if you do something wise with it like put it towards real estate does that make sense yeah that makes sense and we are in our late 20s so that kind of checks out yeah so this is great I love this for you I feel like this is exactly what it's all about like it's all about having your money in order so that you're able to put the next generation in a better position and so this is really money doing it's doing God's work doing what it should I hope that helps Chris and I would say to you know to something to think about for yourself Chris is you know are you in a position emotionally to be okay with being given money because I know there's a level you know not to stereotype but you know even some dudes like there's there can be something to feel weird like oh my gosh I'm getting helped by my parents but when I would say that again if the relationship is healthy and good like put the ego aside receive the gift yeah because that's yeah I mean I think you're I think it's fine I feel like it could definitely feel different if it's if you're the guy I'm not trying to enforce gender roles on anybody but I feel like it could feel different if you're the guy and it's like the mother your wife's family yeah yeah I feel like it could be a little different but listen if it's a good it's a blessing yeah that's great Chris