The 401k is melting; retirement seems further away than ever. And then there are the needs of our not-quite-independent adult children. They've got their college debts, the difficulty in finding a job in this economy. They may be threatening to move back home–it's an affordability measure. And, of course, all those hurts hurt us. We want to help. We want to ease the way. Here's advice from a neutral party. It's aimed at parents of young adult children:
5. Don't coddle them. It's typical for each generation to want to make
life easier for their offspring. Gifts of money, time, and assistance
should be reserved for times of need or special achievement; otherwise,
young adults fail to develop self-reliance skills that will help them
navigate life's choppy waters. Then, when parental support dries up,
they become frustrated failures. Give help when it's critical but don't
overdo it.
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