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Adult Children
Reply to "How much financial help are you really giving your adult children?"
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[quote=Anonymous][quote=Anonymous]As an adult child, my parents: —funded a ROTH as soon as I had income and through my 20s —bought me a used car in grad school —gave me up to the gift limit most years starting in my 30s The annual amount made a big difference when I was younger, now it’s a nice perk that I stick in my kids’ 529s. The Roth contributions are worth a LOT now. [/quote] The Roth is why many parents do it---starting at 18 and maxing out at 7K yearly will be huge when you hit 65. We help with the 401k as well once they start a real job with that. Figure we pay enough in taxes, the kids might as well max their retirement savings, it's truly one of the best gifts you can give. By time our kids are 30, they could logically barely contribute and still have $2-3M+ at retirement. [/quote]
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