How to Keep Your Grown Children From Endangering Your Retirement
Your retirement finances can be a lot more fragile than you might think. A budget can be disrupted by many things, and some parents have a hard time dealing with one expense in particular: They can't say no to their grown children.
Helping your children isn't necessarily a problem if you have the financial resources to do so. But some parents continue to bail out their children, even if it puts their retirement savings and lifestyle in jeopardy. "Unfortunately, adult children are one of the most dangerous [threats] to a successful financial plan," says Cary Guffey, a certified financial planner at PNC Investments in Birmingham, Alabama.