When a Parent Should Stop Supporting an Adult Child

Sam Tabar is a financial expert and lawyer who is currently based in New York City. Tabar has spent most of his career in some of the top financial institutions in the country overseeing budget strategies. He was once the leader of Capital Strategies at Merrill Lynch, former known as Bank of America. He provided fund managers with the right introductions to the institutional investors such as foundations, endowments, funds of funds and pensions.

 

Apart from being a successful capital strategist, Sam is a respected lawyer in New York City. Sam Tabar has worked as an attorney in several law firms in the country such as Roth and Zabel, Meagher and many others.

 

When these children grow up and become adults, many parents maintain their close relationship and financial help; because they believe that their children cannot depend on themselves completely. Some parents will pay their adult child’s rent just because they want them to stay in a better and safer environment. Some parents will pay for all the household expenses in the child’s house so that they can be comfortable. According to Sam Tabar, most parents do not know when they should stop paying for these expenses, and he expresses as much in his Huffington Post article.

 

A study was recently conducted, and it showed that a great percentage of parents support their children who are aged between twenty-five to thirty-five years. These individuals are already considered as adults, but the parents help them in paying most of the bills, even when they are already working and earning a good income. According to the study, most of the parents catered for bills such as mortgage payments, groceries, clothing, entertainment, rent, utilities and many others.

 

A great percentage of the parents proved that they had little or no savings because most of their money was used on the children. The Millennials who are supported by their parents are already making huge savings and investments, unlike their parents who have very little.

1 thought on “When a Parent Should Stop Supporting an Adult Child”

  1. All parents and guardians want their kids to have a good life. It is paramount for parents to make enough savings for their future to avoid getting in trouble when they retire. It is also a nice thing for http://www.schoolastech.com/ to have accomplished a lot which I think is all good.

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