The Dream, the Fear, and the Honda Accord

The Dream, the Fear, and the Honda Accord

 

This past weekend, I was at a Memorial Day BBQ chatting with another parent while our kids ran around on sugar highs. The conversation drifted, like most do when parents are unsupervised for more than five minutes, toward our kids and their futures.

At some point, I found myself admitting something I’ve been wrestling with for a while: I’m genuinely concerned that my children may not be able to give their families the kind of life my wife and I are giving them now.

What surprised me was that this wasn’t just my fear. Almost every parent around the grill nodded along. None of us could quite explain why we felt this way, but we did. And we weren’t being pessimistic. We’re doing okay. But something still feels… off.

I’ve spent a couple of days thinking about it, and I think I’ve finally got it.

My parents were immigrants. They didn’t just work hard; they sacrificed. They left their home country with little more than hope and a willingness to grind. They didn’t take vacations. They didn’t buy new clothes. All so my brother and I could live better than they did.

And we have.

But in giving our children more, have we accidentally given them less of what made us? Less hunger. Less resilience. Less perspective.

Maybe we skipped a step.

 

We Need to Start Making Smarter Paths Okay Again

One of those smarter paths? Community college.

It shouldn’t be something we whisper about, as if it were a fallback plan. If your child is 18 and unsure of what they want to do with their life, which, let’s be honest, is most 18-year-olds, community college might be the best choice they can make, not just for them, but for your family’s financial future.

Let’s Look at the Numbers

According to the College Board’s 2023–2024 data:

  • Community college tuition (public two-year): $3,900 per year
  • In-state public university (four-year): $11,260 per year
  • Private university: $41,540 per year

And that’s just tuition. It doesn’t include room, board, books, or the cost of changing majors (which most students do at least once).

A study from Georgetown University’s Center on Education and the Workforce found that students who start at community colleges and transfer to four-year universities graduate at similar rates and with comparable academic performance to students who started at four-year institutions. In other words, starting at a two-year school doesn’t limit your child’s options. It just provides a more affordable foundation.

Still, so many parents hesitate because it feels like we’re settling. Like a two-year start somehow reflects poorly on us.

Let me be clear: your child’s path does not have to validate your parenting. Community college is not a reflection of intelligence or ambition. It’s a smart, flexible, cost-effective strategy.

 

We Need to Stop Parenting for Appearances

Just like people stretch themselves financially to keep up with the Joneses, we’re doing the same thing with parenting.

Somewhere along the way, we started believing that if our kids don’t have the latest clothes, the most expensive sneakers, a brand-new iPhone, or a prestigious college acceptance, we’ve failed them, or worse, failed ourselves.

That fear is driving a lot of bad decisions.

We worry that our kids will be left out socially. We worry other parents will think we’re not providing enough. But here’s the truth: no one is thinking about us or our kids as much as we think they are. Everyone’s too busy worrying about their own lives.

When we chase validation through our children’s achievements, we rob them of something critical—the chance to own their success. If we’re constantly nudging, pushing, and curating their path for the sake of appearances, we send a dangerous message: that their best effort isn’t enough unless it appears impressive to others.

Let your kids win their way. Support them. Guide them. But don’t weigh them down with your ego. They’re carrying enough already.

 

Let’s Bring Back Delayed Gratification

Another concept we need to revive? Delayed gratification.

We live in a culture that worships instant access and shiny upgrades. New car. New phone. New everything. But the ability to wait, to build first and consume later, is one of the most powerful financial tools we can give our kids.

Too many young adults are financing the illusion of success in their twenties, only to pay for it literally and emotionally in their thirties.

It’s okay to rent a modest apartment.
It’s okay to drive a used car.
It’s okay not to have the latest phone if you’re working toward something bigger.

Buy the dream car in your thirties when it really is your dream, not the brand-new Honda Accord in your twenties just because the dealer said you could afford the payment.

This isn’t about depriving yourself. It’s about getting the order right. Build first, spend later.

 

Our Real Job as Parents

Our parents gave us opportunity. Now it’s our turn.

But the goal isn’t to hand our kids a lifestyle. It’s to teach them how to build one.

That means:

  • Being honest with them about money
  • Letting go of our own insecurities
  • Embracing paths that make financial sense, even if they’re not flashy

Because at the end of the day, the goal isn’t just to raise kids who have nice things. The goal is to raise children who are financially, emotionally, and mentally free.

And if that freedom starts with community college and a used Toyota Corolla instead of a $70,000 debt load from a dorm room?

That’s not a step back.
That’s the smartest first step forward.

 

Citations

  1. College Board. “Trends in College Pricing and Student Aid 2023.” https://research.collegeboard.org
  2. Georgetown University Center on Education and the Workforce. “The Dollars and Sense of Free College.” 2021. https://cew.georgetown.edu

Stock market calendar this week:

Time (ET) Report
MONDAY, MAY 26
None scheduled, Memorial Day holiday
TUESDAY, MAY 27
4:00 AM Minneapolis Fed President
Neel Kashkari speech in Tokyo
8:30 AM Durable-goods orders
8:30 AM Durable-goods minus transportation
9:00 AM S&P CoreLogic Case-Shiller home price index (20 cities)
9:30 AM Richmond Fed President Tom Barkin TV appearance
10:00 AM Consumer confidence
8:00 PM New York Fed President John Williams speech in Tokyo
WEDNESDAY, MAY 28
4:00 AM Minneapolis Fed President Neel Kashkari speech in Tokyo
2:00 PM Minutes of Fed’s May FOMC meeting
THURSDAY, MAY 29
8:30 AM Initial jobless claims
8:30 AM GDP (First revision)
8:30 AM Richmond Fed President Tom Barkin speech
10:00 AM Pending home sales
10:40 AM Chicago Fed President Austan Goolsbee speech
2:00 PM Fed Governor Adriana Kugler speech
4:00 PM San Francisco Fed President Mary Daly speech
8:25 PM Dallas Fed President Lorie Logan speech
FRIDAY, MAY 30
8:30 AM Personal income
8:30 AM Consumer spending
8:30 AM PCE index
8:30 AM PCE (year-over-year)
8:30 AM Core PCE index
8:30 AM Core PCE (year-over-year)
8:30 AM Advanced U.S. trade balance in goods
8:30 AM Advanced retail inventories
8:30 AM Advanced wholesale inventories
9:45 AM Chicago Business Barometer (PMI)
10:00 AM Consumer sentiment (final)
4:45 PM San Francisco Fed President Mary Daly speech

 

 

Most anticipated earnings for this week

 

Did you miss our last blog?

Through the Chaos: What This Economic Whirlwind Can Teach Us About Long-Term Investing

 

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About Amit: I am a first generation American, the son of a working-class Indian family, and I lived through my parents’ struggle to find their place in this country, to put down roots that would sustain them as well as their children in a new land. As they encouraged me to excel in school and fostered my hobbies and interests, I was keenly aware of the dynamic between them. I understood that there was a difference between where they came from individually and where we were now. They worked hard in their individual capacities, but they weren’t always on the same page about financial issues – and that can make or break a family’s future. I didn’t know it at the time, but this laid the groundwork for my passion towards financial services and helping families succeed.

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