Many American parents continue to financially support their adult children, potentially jeopardizing their own financial futures.
According to consumer advisor Clark Howard, nearly two-thirds of American parents with adult children are still providing financial assistance to them.
Clark Howard, a consumer advisor, highlights the financial strain this support can cause, noting that about a third of these parents worry they may not have enough money for their own needs later in life.
Howard emphasizes the importance of parents evaluating their financial situation to ensure that helping their adult children does not compromise their own financial security. He suggests that if the financial aid to adult children threatens the parents’ ability to sustain themselves in the future, it might be necessary to have a candid conversation with their children about reducing or stopping the support.
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