As an EPC, Elder Planning Counsellor, I occasionally encounter situations where many parents are helping their adult children financially. In some cases, parents are even delaying retirement in order to do so.

According to an article which appeared in Investment Executive, this is an increasing trend, and an expense parents preparing for their retirement, did not anticipate.

While it is natural for my clients to want to help their children, as a Financial Advisor, I can help set up steps to minimize the damage to their retirement investment plans.

1. financial plans should include the costs associated with helping an adult child if the help is a must, and is financially possible.
2. teaching financial independence at an early age to your children is a great way to instill financial literacy.

For more tips on how to create a financial plan best suited to you and your family’s needs, call me today. I can help.

Contact Margaret

Are You Helping Your Adult Children Financially?