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Should You Financially Support Adult Kids?

July 17, 2023 - 3 MINUTE READ

From a financial advisor's perspective, the decision to financially support adult children should be carefully considered, considering both short-term and long-term financial implications. While it's natural for parents to want to help their children, it's essential to strike a balance between support and maintaining your own financial stability.

One crucial factor to assess is your current financial situation. Evaluate your income, expenses, savings, and retirement plans. 1Determine if providing financial support to your adult children aligns with your overall financial goals and if you can afford it without jeopardizing your own financial well-being.

Consider the potential impact on your retirement savings. 1Retirement planning is crucial, and diverting a significant portion of your resources towards supporting adult children can hinder your ability to save adequately for your future. It's important to prioritize your retirement needs and ensure that you're on track to meet your own financial goals.

Another aspect to consider is the potential long-term effects on your children's financial independence. 1While providing unlimited support may seem helpful in the short term, it can inadvertently foster dependency and hinder their ability to become financially self-sufficient. By setting clear boundaries and gradually reducing financial support, you encourage your children to take responsibility for their own financial well-being and develop essential money management skills.


Open communication is key in navigating financial support for adult children. Discuss your financial limitations and expectations with your children, helping them understand the rationale behind your decisions. Encourage them to explore other avenues for financial assistance, such as scholarships, part-time jobs, or loans, to develop resilience and resourcefulness.

As a financial advisor, I would also emphasize the importance of maintaining an emergency fund and having a solid financial cushion for unexpected expenses. By prioritizing your own financial stability, you can better support your children in times of genuine need without compromising your own financial security.


Ultimately, the decision to financially support adult children should align with your financial goals, values, and overall well-being. Seeking guidance from a qualified financial professional can provide personalized insights and help you make informed decisions based on your unique circumstances.



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