2686: Should You Give Money to Your Adult Children? by J.D. Roth of Get Rich Slowly on Financial Outpatient

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Episode 2686:

J.D. Roth delves into the emotionally charged issue of whether or not to provide financial assistance to adult children, using a reader's personal dilemma as a springboard. Through insights from personal experiences and expert research, Roth explores the fine line between helping and enabling, offering thought-provoking perspectives on financial independence, responsibility, and the potential pitfalls of economic support.

Read along with the original article(s) here: https://www.getrichslowly.org/giving-money-to-adult-children/

Quotes to ponder:

"The more dollars adult children receive, the fewer they accumulate, while those who are given fewer dollars accumulate more."

"Giving adult children financial support is, generally speaking, a bad idea."

"What is the effect of cash gifts that are knowingly ear-marked for consumption and the propping up of a certain lifestyle? We find that the giving of such gifts is the single most significant factor that explains lack of productivity among the adult children of the affluent."

Episode references:

The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474

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