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[quote=Anonymous][quote=Anonymous][quote=Anonymous]A new “Parents & Finances” survey from Ameriprise Financial found that 45% are paying for the health insurance of their children over the age of 21. And it’s not just that: 84% are contributing to the purchase of a car, 73% are helping to pay for weddings, and 63% are helping with ongoing expenses like cellphones.

These adult children are expensive [/quote]

Adult children can be expensive, but these expenses might be more understandable than they initially appear. T

The cell phone costs could simply reflect convenience and complancy with an existing family plans, where the marginal cost of keeping the kid on the plan costs very little.

For health insurance, a significant portion of that 45% likely covers adult children still in college, or parents may already have family plans where the marginal cost of keeping an adult child on is minimal.

For car purchases—I plan to get my kid a car at 16, but honestly, it's as much a gift to myself as to them—no more late-night drives to hockey practice.

Wedding expenses have been a parental tradition for generations, so that's not a surprise.

What would genuinely surprise me is if a large percentage of parents were covering rent or providing regular cash subsidies to adult children. [/quote]

We don't cover rent or provide cash subsidies but we do cover all of the above for our 23 year old (car was bought used upon HS graduation). The other thing that wasn't mentioned, and we cover, is car insurance. $300 month for a male with 1 accident on his record is a lot when he's dealing with rent and utilities that take up 35% of his monthly paycheck. [/quote]

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