Let me add … the original poster did not necessarily say the equipment would be theirs …
In our house, the vast majority of rods and reels do not have a name associated with them. Once a kid is past their first rod and reel … the family collection is there for all. In the spring or summer, I may be using the higher-end stuff (not ultra-high price stuff that many here use, but nice) or I may use what I call the Tier 2 equipment … all well-made and with ample response for most anglers. My so-called Tier 2 equipment probably runs $100 – $150 for the combo.
I do tell any of my kids (now adults) that if they take the high-end stuff out on their own (say with friends) they are financially responsible for loss, theft, or breakage … they usually grab the tier 2 stuff which is all better equipment that I fished with in my 20s and 30s.
I think selecting the right combo for the day (type of fishing, target species, etc) is far more important than say having your own rod.