Are you among the almost 80% of parents who provide some financial support to adult children? The amount is a mind-blowing $500 BILLION a year, which is twice what parents put away for retirement.
In other words, you may be placing your kids’ interest ahead of your own. And that makes it one the biggest threats to your retirement.
Plus it could rob them of the experience of learning what it means to struggle and become financially independent.
So what’s behind this trend of boomer and Gen X parents supporting their adult kids?
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
5 comments:
#5 reads “ if they gets a job”
Anyone else get annoyed reading crap like that as I do?
The thickest cord is those damned Parent-Plus student loans. Holy indentured-servant, Batman!
guilty-thank you for sharing
5:37 tell us more about how you walked backwards up a hill in the snow to get to school as a child
It's true but doesn't matter to kids today. Instant gratification. However I believe in helping adult children financially if they have a job. Such as monies for down payment on a starter house with no repayment expected. That's joh I got my first house and on house 5 now. How where you can. Their your kids and you want the best for them.
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