It had gotten so bad that their mother, who sounds like a pleasant, conflict-avoidant lady, decided to teach the guy a lesson and took matters into her own hands.
However, of the adult children who are still living at home, 61% don’t contribute to household expenses at all.As the situation we just learned about illustrates, supporting grown children can be a substantial drain, especially to those whose own retirement security is at risk. Savings.com discovered that 58% of parents have sacrificed their financial security for the sake of their adult children, a jump from 37% of parents a year earlier.
Therefore, Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida, believes that first and foremost, parents should have a good financial plan for themselves, and only then budget how much they can give their kids.CNBC commenting on the issue, adding that as a rule of thumb, you should set aside money for your retirement and emergency fund first.
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