Smart ways to help adult children manage money.
If you gift money to your adult children, you are not alone. A recent study by Ameriprise found that 93% provided money help to their adult children; with 34% who admit that helping their adult children has slowed down their retirement savings.
Our advice? First, examine the facts of why your child needs the money: Is this a short term crisis, a chronic situation or a long term loan opportunity?
A Short Term Crisis . . .