REWahoo
Give me a museum and I'll fill it. (Picasso) Give
When I read this article, Paying bills for adult children? Try tough love instead, I immediately thought of this thread: http://www.early-retirement.org/forums/f26/a-question-about-my-sister-72738.html
The author has some excellent advice for what he claims are the 85% of parents who "plan to provide some sort of postgraduation financial assistance." Don't do it, he says as this help will likely hurt their chances for independence and success.
The author has some excellent advice for what he claims are the 85% of parents who "plan to provide some sort of postgraduation financial assistance." Don't do it, he says as this help will likely hurt their chances for independence and success.
Bottom line:...what can parents do to make “home” a lot less welcoming, and make complete financial independence look like the brass ring it should be? Turns out, quite a bit.
Be honest with yourself. Ask yourself: Is my financial assistance helping or hindering my child's emotional and financial growth?
...Most parents don't want their children to struggle like they may have as young adults. But balance that pull with the understanding that those struggles—and successes—are critical if your child is to emerge an independent adult with a solid self-image.
Mom and Dad must be on the same page. One parent slipping the son or daughter money while the other fumes does little for a marriage or the emotional and financial well-being of the child.
Be a parent and a coach. Offer emotional support and financial mentoring. Saying “no” to financial assistance does not mean you can't help with budgeting, résumé writing, professional networking, interview preparation—heck, whatever it takes!
Retiring rich is hard enough without paying for your child's extended adolescence. The job market may be tough for new graduates, but forcing your child to navigate it anyway might just be the best way to help.