Should Parents Give Their Adult Children Money?

One of the recurring topics that financial pundits love to tee off on is when parents endure any form of financial hardship to help their adult children. Pundits and website commenters usually start speaking in high-fallutin' 'we pull ourselves up by our own bootstraps' language about making your own way, learning responsibility, and other platitudes that sound like they come out of a Wild Wild West documentary. The truth is, a lot of parents tend to love their children, and a natural by-product of this is a desire to help their kids out when they need a helping hand. Let's face it, today's economy doesn't have the security of the boomer generation factory job with a pension, and we can't be surprised that children have to rely on their parents to just to get by. It is not 'evil' for a parent to help out a kid in need, but of course, parents should not compromise their own security in order to meet the short-term demands of their children. There is one thing that financial pundits are right about--there's no such thing as loans for retirement! Boomer & Echo recently wrote a solid piece on this topic, and you should visit their website and read about it here: http://www.boomerandecho.com/bailing-out-your-adult-children/ .