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Millennial Money: Should you financially support adult kids?

KTVZ

By ELIZABETH AYOOLA of NerdWallet

Parenting comes with many responsibilities, and one is raising financially independent kids. But adult kids sometimes still need financial support. Financially supporting adult kids is a kind thing to do but can have downsides if you’re not financially secure. Not only can it affect your retirement savings, but it also may strain your relationship with your kids. Before agreeing to financially support them, assess whether you can afford it. Setting boundaries around how much help you’ll extend can help protect your finances and relationship. Most importantly, guiding your kids toward financial independence is one of the best intangible gifts you can give them.

Article Topic Follows: AP National News

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