Transcript for 'GAA' Toe-to-Toe: Are Parents Pushing Kids' Dreams Too Much?
Hc chew." Time for another burning topic. Is there a limit on funding your kids' dreams? We'll go "toe to toe." It's the mother, of gabby douglas, she's filed for bankruptcy and ryan lochte's parents are facing foreclosure. And the other from toddlers & tiara, that spent 140,000 bucks into her daughter's beauty pageants. And gabby douglas making history. For the first african-american woman to win gold in gymnastic, and ryan lochte winning gold. The investment pays off or did it? And everybody welcome sharad small from vh. Ron:1 and everybody welcosusie essman. . Very rarely do I wish we were on cable. But, boy, susie, welcome to the program. I know how to behave. So what do you think? Here come the parents pouring, not just all their time and effort into their kids but also a lot of money. What do you think? For every ryan and gabby, there are thousand, hundreds of thousands of parents who went bankrupt and their kids didn't even make the olympics. Loser, losers. When you watch it, you watch it and think, these kids spent their lifetime working on this. Step kraut side the line, and -- I was watching last night, and it is all over. All that work, one injury, one little injury. It's all over. I say let them go to the yhha, ca, whatever. Here, you got to say your money. I mean if your kid is like really, really talented like other people tell you that. Then invest in him. 20,000 dollars later you got tennis lessons and he ain't going. Kids are capricious. They change all of the time. How you live your life should be an example to your children. You're going bankrupt and not showing your kids an example how to live their life and manage their finances. And the unlived life is really the parent yeah, yeah, yeah. I agree. It's the parent that thought he or she would be a swimming st star -- exactly. That's why I always pick the cheapest sport to get the kid into. Like basketball, all you need is a ball, right? All you need is a ball. Handball all you need is a side of a building. If you're looking to create an olympian, you should know the most expensive sport, shockingly, archery, really expensive to do. 25,000, plus, to have -- they have those old robin hood bow and arrows. They're not fashioning those out of the free in the backyard. High tech. Plus once what you do in arch rirks if you miss, you're not chasing that arrow, right? If you get really good in archery, how are you making a living off that? There's only so many robin hoods being cast. Every so many years we read these story, people who win gold medal in archery or skeet shooting. You're asked, you poured your life into this, what does it mean for you? It's going to be a line on my resume. It shows dedication, focus, tenacity. Will it help you get a job at kinkos is the question. You look back at generations ago, not that it was the right way to do it either. But eastern countries had state-sponsored athletic programs to find the best and brightest in sports. It's not just the money, josh, it's the -- you know, having your kids be so focused on one thing that they're not exposed to anything else. They're not out there exploring and finding out who they are and reading a book, and, you know -- I agree. I agree. Right. Would they ever get to the gabby douglas level? Somebody is gabby douglas? I mean, gabby douglas is gabby douglas. Her parents sent her away. Listen, I'm all for my kid exploring every sport there is and finding -- and having fun, having fun playing a sport. You know what, kid are going to try to use this against their parents. Gabby douglas gave up her house. Don't fall for it. Don't fall for it. We asked you all day on the website, we want your voice heard. 30% of you, really, said it was worth breaking the bank. 30% of you? Wow. They have no kids that 30%. Kids are -- forget about once they go to college. Untalented kids are very expensive. Talented -- arguably -- . This is big toe to big toe. Sherrod small, thank you so very
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