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Paying your kids' bills is putting your retirement savings at risk
April 25, 2019

From Bankrate:

Parents are responsible for taking care of their children, and that means emotionally, physically – and financially. But how old is too old to be receiving money from mom and dad?

A new Bankrate survey on financial independence looked into the average age Americans think individuals should start paying for their own bills, including car payments, cell phone bills and student loans.

The journey to independence has changed in recent years as "helicopter parenting" and prolonged education continue to create more co-dependent financial relationships between parents and children. But the data from this new survey reveals an alarming trend: 50 percent of Americans say they have sacrificed or are sacrificing their own retirement savings in order to help their adult children financially

Bankrate asked Americans at what age they thought a person should start paying for their bills. Most of the results dovetailed the traditional mindset that 18 is the golden age of adulthood – except when it came to big-ticket items.

Continue reading at Bankrate...

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