We love our kids. We are also saving for our own retirement. I'm at that age where I have friends trying to figure out where the line is in helping their kids financially without sabotaging their own retirement portfolio.
I have a friend who's kid has pretty much bled their retirement dry. Despite financial bailout after financial bailout, the kid never changed his irresponsible spending habits despite promises of saying, "This is the last time I will ever, EVER ask for help. I swear it."
Now the kid is in his mid 30's and is in the midst of a nasty divorce and now has little kids. Now my friend is suffering financially after years of 'helping' and the 38-ish year old "kid" who has sucked them dry with no prospects of pulling himself up by his bootstraps. Nobody is going to come out ahead in this situation.
I guess we should take the advice of the flight attendants. Secure your own oxygen mask first before assisting others.
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