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Are your kids putting your retirement at risk? Question for those with adult children ~

If you’re like most boomer parents, you give cash or some kind of financial support to your adult children. And while this is certainly a generous move, it’s also a risky one, especially for those who haven’t yet saved enough for retirement.

Fifty-nine percent of parents financially support their adult children (ages 18 to 39) who aren’t in college, according to a new study by the National Endowment for Financial Education.  Nearly half (48%) help their adult kids with living expenses, 41% with transportation costs, and 29% with spending money.  When asked why they do it, 43% of parents said it was because they were “legitimately concerned” with their child’s financial well-being, and 37% said it was because they didn’t want their children to struggle financially like they once did.


Asked by tasches at 7:40 PM on Jun. 10, 2011 in Adult Children (18+)

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Answers (6)
  • When my twins were 3 a financial adviser warned me that you can finance a college education but not a retirement.

    Answer by onethentwins at 8:36 PM on Jun. 10, 2011

  • I know dhs family has helped out here and there, or given very generously, ( they gave me $300 for my bday a few days ago) and I know it's because they don't want our kids to go with out extras, like trips to the zoo, or toys. Or anything. We don't struggle by any means, we live comfortably, so dhs parents don't have to help us, but they do. I'm not sure if it is their way of showing us they are about us, and the grandkids, or they still have that need to take care of their son....

    Answer by BabyBugsmama at 8:04 PM on Jun. 10, 2011

  • I have a 23 year old still living at home and my retirement funds are secure, he has a job and I have no expenses from him.

    Answer by older at 7:37 AM on Jun. 11, 2011

  • Eeek...I gotta get a job asap lol

    Answer by MissyNewMama at 5:38 PM on Jun. 11, 2011

  • yep my parents do that for my 2 older siblings who also posses master's degrees, no kids and careers... while i am a divorced mom of 3, no degree yet and in the army.. they try but i refuse to let my parent support me as an established adult!!

    Answer by mrsary at 4:17 AM on Jun. 13, 2011

  • Like

    Answer by Candi1024 at 8:42 PM on Jun. 10, 2011

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