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Reply to "Who here is regularly supporting their adult children financially?"
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[quote=Anonymous][quote=Anonymous]There’s probably an important distinction between “supporting” in the sense of someone being unable to live on their own vs transferring money because you can and want to. Fwiw having grown up very privileged around lots of other privileged kids, my approach as a parent will to provide be a conditional safety net or no strings attached gifts. If my kid has a job and is living in NYC I’d rather give her $15k in January if I want to than pay half her rent or whatever. She can figure out what to do with it. I’d probably commit to those gifts for X years for planning purposes. But if she loses her job, she can always come home to live with us subject to certain conditions like reasonable sobriety, seeking employment etc. What I want to avoid is a kind of long term, controlling financial entanglement. [/quote] This is a fairly enlightened approach. I too would seek to avoid controlling financial entanglement. That's very well said. Planned gifts and transparency in addition to an expectation of hard work and financial self sufficiency are crucial. [/quote]
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