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People also ask
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.
Would you give money to your grown children to fund retirement?
Aging adults say giving money to grown children is one of the top financial habits they鈥檇 be willing to change in order to get their retirement on firmer footing, according to a recent survey from Merrill Lynch and Age Wave, which studied 50,000 respondents over four years.
Is it OK to give your parents money as a gift?
While habitual gifts of money can become damaging to an aging parent鈥檚 financial situation as well as an adult child鈥檚 future, occasional gifts can certainly be appropriate. Maybe an investment performed really well this year and you want to share the gains with your children: No problem, Wiley says.
Should you give cash to your adult children?
If giving cash to your adult children is causing similar problems, there鈥檚 nothing wrong with stopping. After all, your children are presumably capable of supporting themselves and shouldn鈥檛 need to depend on you for their ongoing survival.