when should parents stop giving money

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  • Should you stop giving money to your grown children?

  • While every parent wants to help his or her children, continuing to give money to grown children on a regular basis can cripple your own financial situation as you near retirement.

  • What age should you stop paying for child support?

  • Kids and parents often have different ideas about when support should stop. In the Money poll, parents helping adult children generally believed kids should be independent by age 25, but acknowledged that in their own situation, 30 was more likely. Young adults put those ages at 27 and 32, respectively.

  • What’s the right age to stop financial aid?

  • Create a concrete plan to end aid. Kids and parents often have different ideas about when support should stop. In the Money poll, parents helping adult children generally believed kids should be independent by age 25, but acknowledged that in their own situation, 30 was more likely. Young adults put those ages at 27 and 32, respectively.

  • When does it make sense to give money to your parents?

  • Providing monetary support may make sense in any of the following situations: Job loss: If your parents are still working, but one of them lost a job, consider giving them a loan to help them put food on the table while looking for a new job. Your parents can repay the money at an agreed-upon timetable when one of them secures employment.

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