“We are still paying for David’s apartment.”
Jim and Cindy, two parents from Old Lyme, CT, noted. “We are now seeing how this hurts our retirement planning.”
David had a series of jobs in his twenties but no defined career. Having not graduated college, he followed the path of waiter-bartender-restaurant manager that some do in their early twenties. In part, because the money is solid for someone in their early twenties, they often drift a bit too long. Assuming that the restaurant business is not their career path, they wind up like David, paying almost enough to meet their bills but not enough to be fully independent and sometimes in need of emergency assistance.
Recent articles on how many young New Yorkers require financial help from their parents, as well as the more common articles on failure to launch, illustrate the epidemic.
Back in our day….I laugh, knowing how I sound. But “our parents” – just a generation before – would not have “tolerated this nonsense.”
Not my words or sensibility. I sympathize with parents helping their adult children in all ways.
But… teach a man to fish.
That’s where we come in. We can help your child become financially independent by finding a career path that pays the bills and hopefully more.
That money – the 500-1500 or more – that you have been sending each month will now go into your retirement accounts.