When Grown Children Get In The Way of a Successful Financial Plan

My latest for Alpha Baskets looks a type of one off event can that wreak havoc on a financial plan; a grown child who gets hurt or into trouble. As we’ve been talking about for years, there are all kinds of one-off events that occur regularly but that can’t easily be planned including the above but also less dramatic things like a new roof, tires for a vehicle, large vet bill and so on.

From the post;

So generically speaking parents who are 60 or 70 with a decent nest egg who as a function of an accident or their children’s bad behavior may have to decide whether to come to the financial aid of their child either out of some sort of legal obligation somehow or out of some sort of moral obligation.

Please click through to read the rest.

Eastern Wyoming

 

The picture is from a little town in Eastern Wyoming right before the Sturgis Rally in 2012. This might be Sundance, WY but I am not certain.

1 Comment

  1. This is an important issue, good to see you bringing up. One of our adult children has a drug and alcohol problem. We helped financially a couple of time, and then realized this would bankrupt us as the behavior continued. We reached the point where we provide emotional support but no more funds. Giving money just enables the addictive behavior.

    Reply

Submit a Comment

Your email address will not be published.

WP-SpamFree by Pole Position Marketing