Wealthy people problems?


Olde Hornet

Well-Known Member
https://www.usatoday.com/story/mone...-how-stop-paying-chirldrens-bills/2471038002/

How to wean grown kids off your payroll, freeing up more retirement cash

When it comes to money, Dana Anspach got the tough-love treatment from her parents when she was growing up and living under their roof.

“It forced me to figure it out,” says Anspach, founder and CEO of Sensible Money, an investment advisory firm in Scottsdale, Arizona.

And what worked for her, the financial planner says, provides a good road map for empty nest parents who are looking to free up cash by cutting the financial cord with their kids once they head out on their own.

“I am a fan of tough love,” she says.

Just because your kids have moved out of the house doesn’t mean they’re out of your financial life. Six out of 10 (61 percent) parents with at least one adult child over 18 said they provided them financial help, according to a Pew Research Center survey.

But, eventually, empty nesters face the delicate job of shifting the bill-paying burden to their grown children. Covering your kids’ cellphone bill, car payments, credit cards and other monthly costs can’t last forever. Doing away with those bills, if possible, is a budget-friendly move.
 
Well, this just maybe only wealthy people's problem. People who are not wealthy solved this problem a long time ago. Well, I know my parents did. LOL!!!!
 
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Well, this just maybe only wealthy people's problem. People who are not wealthy solved this problem a long time ago. Well, I know my parents did. LOL!!!!
Nope, you're wrong...it's not wealthy people problem. Especially in this age of Millennials or even Centennials (Gen Z). Most parents sill have there kids on health insurance, auto insurance, still pay their cell phone bills. Heck most of them are still at home. I know of a couple of engineers who are still at home with their parents. Hey I don't hate on anyone, I don't know whats going on in that house or their pockets, so it's not my business. I just hope I would not have to deal with this, but you never know what life has in store for you.
 
That's true also

Nope, you're wrong...it's not wealthy people problem. Especially in this age of Millennials or even Centennials (Gen Z). Most parents sill have there kids on health insurance, auto insurance, still pay their cell phone bills. Heck most of them are still at home. I know of a couple of engineers who are still at home with their parents. Hey I don't hate on anyone, I don't know whats going on in that house or their pockets, so it's not my business. I just hope I would not have to deal with this, but you never know what life has in store for you.
 
I got friends who were shocked that me and my wife had to pay for our own wedding. It was baffling to them.
 
In my opinion, we still spent too much but most of my classmates from grad school spent over 40k on their weddings so I feel better when I talk to them.

Over 40K ?????? WOW!!!! I know some people probably spend more than that. But still......
 
Nope, you're wrong...it's not wealthy people problem. Especially in this age of Millennials or even Centennials (Gen Z). Most parents sill have there kids on health insurance, auto insurance, still pay their cell phone bills. Heck most of them are still at home. I know of a couple of engineers who are still at home with their parents. Hey I don't hate on anyone, I don't know whats going on in that house or their pockets, so it's not my business. I just hope I would not have to deal with this, but you never know what life has in store for you.
I sure appreciate being able to live with my mom for a couple years after graduating as an engineer and working near my hometown. Saved a bunch and helped her with a few things she needed for her home. I'd do the same for mine... though my daughter is insistent on doing the unnecessary and STILL asking us for help instead of just not creating the bill (rent) in the first place.
 
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