Road to Retirement: Should you financially support your adult children?

While children in India have been conditioned to support their parents in old age, times are changing. The rising number of nuclear families, higher cost of living and parents asserting their financial independence, means that the concept of kids as a retirement plan has taken a beating. So how should you support your parents after you have a family of your own?

Should You Sacrifice Your Retirement to Bail Out Your Adult Children? Before we answer the question of whether or not you should you risk your own financial security to pay the way for your children, we all need to face the fact that, based on statistics, the majority of us are doing just that.

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You and your adult children may even be working toward the two stages of financial. Adult children who no longer require any monetary support from their. This doesn't mean a parent can't provide some kind of financial aid if they choose.. Leading you down the path to financial independence and secure retirement.

When you are constantly saving your child/adult child from hardships they do not learn basic life skills that teach them to survive. They also start to think your job is to bail them out and they form opinions about how much you should help.

When Should You Stop Paying For Your Child’s Expenses? By Melissa 19 Comments-The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money.Last edited June 10, 2013.

Any financial assistance you decide to give to your adult children should be for the right reasons, especially for retired or nearly retired parents who can ill afford to dip into their nest egg.

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It's important to set financial ground rules for adult children living at home.. impact housing an adult child could have on a parent's retirement.

Be prepared for your child to reject you. He or she will most likely come around later. 10. Attend support groups if your child has a substance abuse or emotional problem. Only give spending money.