University is still years away for my kids, but I am curious how it should play out.
Can anyone explain?
Quite literally from the month my kids were born their mother and I have been maxing out their RESP contributions. As of today they have a very nice nest egg that will continue to grow and be invested into. I crunched the numbers today and assuming only modest rate of growth they will each have $70K put aside when they enter University. I can tell you that I maybe got $700 bucks from my parents to go to University. I worked , rang up student debt , got scholarships and teaching assistant positions to get my way through.
I know that if we had nt put money aside that I'd be responsible for my share of their university expenses, but given that we have and I think the money should be enough. Can I count on child support ending once they enter University and are over 18? If they live at their Mom's home will I still have to pay CS to her?
I dont mean to come off hard nosed or heartless about my kids, I love my kids! I think that their mother and I will have already paid for their education and this divorce has set me back years financially. Since the divorce I have never been financially comfortable and dont want to live like this forever. My last hope for a comfortable retirement will be if I can take the money that I am paying in child support once they are 18 and in University to pay off my mortage before I am eligible to retire which will be about when they are finished their undergrad degree.
Will I be able to stop paying CS when they turn 18 and in University?
Just looking for some light at the end of the tunnel
Can anyone explain?
Quite literally from the month my kids were born their mother and I have been maxing out their RESP contributions. As of today they have a very nice nest egg that will continue to grow and be invested into. I crunched the numbers today and assuming only modest rate of growth they will each have $70K put aside when they enter University. I can tell you that I maybe got $700 bucks from my parents to go to University. I worked , rang up student debt , got scholarships and teaching assistant positions to get my way through.
I know that if we had nt put money aside that I'd be responsible for my share of their university expenses, but given that we have and I think the money should be enough. Can I count on child support ending once they enter University and are over 18? If they live at their Mom's home will I still have to pay CS to her?
I dont mean to come off hard nosed or heartless about my kids, I love my kids! I think that their mother and I will have already paid for their education and this divorce has set me back years financially. Since the divorce I have never been financially comfortable and dont want to live like this forever. My last hope for a comfortable retirement will be if I can take the money that I am paying in child support once they are 18 and in University to pay off my mortage before I am eligible to retire which will be about when they are finished their undergrad degree.
Will I be able to stop paying CS when they turn 18 and in University?
Just looking for some light at the end of the tunnel
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