Parents Saving To Support Kids Til Death?

Letter to Ephesians: What a CROCK. WJS says “A new strain of financial advice suggests support for grown children [aka 30+ YEARS OLD] is fine – even necessary as rising rents & college costs have made it tough for younger generations to find their footing.”

Believe it or not, the paper cites a Pew Research Center survey that found, “About 60% of parents with children ages 18 to 34 said they had helped their kids financially in the previous year.” Apparently, these folks “commonly chipped in for housing, debt payments & everyday expenses such as groceries,” i.e., according to a Bankrate survey last year. And, a “third of younger millennial home buyers got help with the down payment from friends or family, says an April report from the National Assn. Of Realtors.

Up to 21 years old, the traditional bright line for adulthood and adult responsibility, I get it. I worked my own way through SEVEN years of college & law school. Fast forward. I SLAVED for another two decades to put my FOUR children through college debt free. BUT, during that time I also frankly counselled my children on the IMPORTANCE and PERSONAL RESPONSIBILITY of truly becoming an adult – that mom and dad would be doing them no favors by ever systematically, unconditionally ENABLING them to shirk those responsibilities, especially the one about earning a living and raising a family of their own NO MATTER HOW HARD THEIR FINANCIAL LIFE TURNS OUT TO BE.

Davd Soul