A long time ago… actually just 10-20 years ago…
it was expected that parents would stop supporting their children in their twenties, usually post college, but regardless, few parents supported their children financially pass 22.
Now…
It’s not unusual and if needed I would likely be guilty of doing the same for my three children.
The challenge is that parents are also getting older and will be want retirement/financial freedom soon.
Financial Dependency and the Strain on Parental Resources
The Impact on Parental Resources
This support can include covering living expenses, educational costs, and even funding their children’s content creation efforts. For parents nearing retirement, this can pose a serious financial burden.
- Savings Depletion: Parents may dip into their retirement savings to support their children’s influencer careers, jeopardizing their own financial security.
- Increased Stress: The financial strain can lead to increased stress and anxiety for parents who are trying to balance supporting their children with saving for their own future.
Investment advice: help make your children financially independent. On this count, Career Counseling Connecticut can serve you better than any financial advisor.