Don’t spend too much on your grown children
As harsh as that sounds, providing too much financial support to your grown children can come back to bite you in the long run.
Some retirees loan their children money to start a business. Some cosign mortgages. And no matter how much money you give to your grown children you shouldn’t count on getting repaid because that rarely happens.
If you must lend money to your children, just think of it as a gift and don’t expect them to pay you back. This will help you determine whether you can afford to part with that money in the first place.
