Posted on 04/24/2019 11:19:44 AM PDT by EdnaMode
Financial independence, once a hallmark of adulthood, has gone by the wayside as adult children increasingly depend on their parents to help them cover the cost of rent, student loans, health insurance and more. But parents' desire to give their children a financial assist could be misguided -- and even backfire in the long run.
Half of American parents are unable to save as much as they'd like to for retirement, and their grown offspring -- whom they still count as dependents -- are to blame, according to a new Bankrate.com study.
While they likely mean well, parents who support children into young adulthood often end up encumbered when they reach retirement age. They can inadvertently hamstring their kids, too.
Instead of bankrolling their grown kids' lifestyles, parents would do well to keep an eye on their own finances while teaching their children financial independence, experts say.
(Excerpt) Read more at cbsnews.com ...
I’ve heard it said before that if you don’t raise your kids right, you’ll end up raising your grandkids. Or something like that.
I know a couple of older families in that boat. I wonder what will happen once grandpa is no longer able to work.
Sad.
Spanking, and the physical presence of an attentive parent who is doing chores like cooking, and painting the house, and changing the oil in the car or refinishing furniture.
Teach your children about God.
And always advise, discipline and encourage.
If you have to have one car and one income, or one of you works part time and at night do that.
But be the one who is there. Counter other influences.
Control television influences. Not with some device the kids could bypass, but by your physical presence. Get rid of it if that is what it takes. Same with computers.
And do not send them straight to college on your dime. Send them to Bible College first, or have them work a job and appreciate college as a place to learn rather than a place to party after getting out from under the parental thumb.
There aren’t very many parents who prioritized these things stuck with parenting their grand kids unless something catastrophic happened to their kids.
They may not need it but it’s my money and I need to have fun spending it.
Yeah,
I feel the frustration.
I just want a few Sunrises
with a good cup of Coffee,
a few books and a
Little”Yippie Dog.”
Worked all My life
and I’m Tired.
When I croak I am sure I will be on the clock somewhere. To die in the harness = probably my fate.
I loved my children too much to allow them to choose college majors that led to careers asking “would you like fries with that” or to a lifetime living in our basement. Contrary to the liberal image of love as a blind blanket blessing of all choices, real love requires firmness as appropriate.
Work till I Drop,
That Was My Motto.
I watch these Lazy Idiots
a say,
“I will live in a Van,
Down by the River!”
I told my kids for close to 18 years, when you turn 18 you are out the door. When the oldest reached 18, she went to trade school. She quit after a year and went to work, and got her own place. I actually tore the wall out of her bedroom, and joined it with the Master bedroom to make a suite, and told the younger ones to “let that be a lesson to you” They didn’t waste any time launching on their own when it was time.
There is another way, you take the grandkids in, and cut YOUR children off at the knees. Use the court system, it is the best thing you can do for both generations.
September of 2008, and Obamas horrible management style cost me mine too. I picked a wrong time to get old.
What makes a person unemployable with Graves disease? It is simply addressed with Thyroid supplementation. My sister and other relatives have it, I think a President or First lady had it too in the last 20 years.
Kick the adult children out, and take the grandchildren into your arms. If you are going to go broke, at least do it with the thought of saving the little ones from their screwy parents.
While ending immigration, make sure and find all of the invading hordes, and remove them from the country. I don’t care if they have babies who are considered US citizens. Put them up for adoption, or let them return too.
My older sister got in trouble with the law and our parents spent a fortune in legal fees to keep her out of jail. They sold their business to pay for this. Several years later the middle sister then stole $108,000 while our mother was ill.
I figure the stress killed the parents at 69 & 74.
Beware helping too much.
And yet, some of us managed to put away a fair nest egg by not taking expensive vacations or indulging other desires for “stuff”...over careers where we started working as teens and kept on working until our early 60s...and have children that, after rocky starts in their late teens to mid 20s got their act together and have the potential to amass multiples of what we did.
Government is oppressive but personal decisions have an even bigger impact.
Of course, any excuse is a salve if one needs an excuse....
My 25 year old daughter is unemployed and moving in with us this summer and I could t be prouder of her.
Oh - she is moving In After she graduates from medical school. She will start her residency after graduating at the top of her class. She is moving in to save money to pay her student loans down quickly. She will pay her share of household expenses and contribute to the daily routine as able while working 80+ hour weeks. Not all millennials moving back in are lazy or bad news.
Just,
Damn.
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