We all know it costs a lot to raise a kid, well over $200 thousand. But if you think that stops when the child turns 18 you are wrong. In fact, you are very wrong.
According to a new survey 79% of parents continue to help their adult kids out financially, and the money they give those kids is double what they save for retirement.
“It’s desperately scary, because parents are sacrificing their financial security for the sake of children that are between the ages of 18 and 34 and can work the rest of their lives,” parenting expert Maria Luce said.
Luce tells KTRH it's one thing to help your kids, but what is going on today is not helping.
“There’s a difference between responsible parenting and enabling,” Luce stated.
The research says 72% of parents out the needs of their adult kids ahead of their own retirement needs. It also showed that 63% of parents sacrificed their financial security for those adult kids.
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