Perspective: When to cut off financial help to adult children
A recent survey by Bankrate.com found that 51 percent of Americans are sacrificing their retirement savings to free up money to assist their adult children. By Michelle Singletary Michelle Singletary Personal finance columnist Email Bio Follow Columnist May 2 at 6:05 PM As parents, my husband and I have struggled with finding the right balance between protecting our children and letting them learn things the hard way.
A recent survey by Bankrate.com found that 51 percent of Americans are sacrificing their retirement savings to free up money to assist their adult children.It's understandable that parents want to continue to protect their children as they enter adulthood because starting out can be a struggle. Another reader wrote, “My son feels bad about getting financial help from us. Two things: I think he’s pretty responsible with money. He’s getting a Ph.D. We tell him he’ll get the money sooner or later and he might as well get it when it will help the most.”
It's coddling — and destructive to their development — when you don't see financial growth. It's overprotecting when your adult child is fine with you footing the bills for his smartphone, car insurance and student loans while he's taking vacations and living it up with his friends at happy hour.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Perspective | Stop sacrificing your retirement to coddle your adult children.Half of American parents are risking their retirement to help support adult children.
Leer más »
Alarming new study of 2.8 million adults says obesity will cut years off your lifeNew research suggests that being severely obese increases your risk to several life-threatening illnesses.
Leer más »
Perspective | John Singleton helped redefine American pop culture, and his impact is still being felt todayThe “Boyz n the Hood” director, who died at 51 on Monday, helped lead a golden age for African American film.
Leer más »
Perspective | Make Mother’s Day memorable with these children’s booksNine picture books to share with your little readers ahead of the holiday.
Leer más »
Venezuela, from a child's perspectiveIn the whole of March, children in Venezuela went to school fewer than 10 days. Blackouts left 70% of the country without electricity, affecting at least 15 of the country's 23 states and forcing the government to close schools and work.
Leer más »
Apple optimistic as iPhone price cuts help in China, watches pull in new buyersIPhone sales mark steepest decline ever but Apple expressed hope the worst is over via ReutersTV
Leer más »
Apple optimistic as accessories, iPhone price cuts help China salesSales of the Apple's lucrative iPhone slumped 17 percent last quarter, the biggest drop on record, as weak demand in China took a toll. But executives expressed hope that the worst is over via ReutersTV
Leer más »
Apple optimistic on sales as iPhone price cuts help in China- Apple forecast stronger-than-expected revenue this quarter, as iPhone price cuts have helped sales in China - Quarterly iPhone sales fell 17 percent year-over-year, their steepest drop ever - Investors are looking to the services business to fuel growth
Leer más »