Should I spend money on retirement or my adult child? – Housing Loan

Being a parent is nice, good and expensive. Just about everyone agrees that it is up to the parent to raise their children by the end of high school and to give their children everything they can to start living, within the limits of their financial means.

Of course, here are the bad examples of people dressing, pampering and educating their children, but that’s not what I’m talking about. (My wife usually sells outgrown clothes for kids. Even she shakes her head when moms order branded and relatively expensive clothes, but they ask her to pay her two or three thousand forints in two weeks, because then literally they live by tomorrow, they have to wait for a family allowance for a three thousand forints edition, but their little prince or princess can only go to kindergarten in branded clothes, even if she is forced to buy it secondhand.)

The question is how far the parent’s responsibility for the child’s

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Financial and other well-being extends. Seeing that many parents even financially support their adult children at the cost of lowering their standard of living or even sacrificing their retirement savings to help their child live a comfortable life.

With this, you can educate an infantilized, spoiled youth who don’t even want to work at the age of 25-30 if they don’t have to, let alone start a family. When a 28-year-old baby is still carrying home the laundry and going home to eat, while his mother and father were two or three at the age of 28, they were on their own feet between the ages of 20 and 21. Today they are amazed at someone who is born before the age of 30. He’s still a kid.

A new survey has been published by Meryll Lynch about how much parents spend on their adult children (18-34 years) in the United States.

Although being a parent is a big challenge in every respect

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Financially, 93% of parents say that a child is the most valuable part of their lives, and 92% say that the best memories of their lives are with children.

79% of them even support their adult children, spending $ 500 billion a year. By comparison, this is double what they do in their retirement years. Adult children spend $ 54 billion a year on food, with 23% of parents paying for their adult child fully and another 37%, but even the telephone bill is $ 18 billion a year for parents. The total cost of maintaining a car is paid by 17% of parents, and in part by an additional 30%. 36% of parents support renting or housing loans.

Child’s financial well-being than their own retirement

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72% say that it is more important to their child’s financial well-being than their own retirement, and 63% who sacrifice their own financial security for the benefit of their children. 82% are even prepared to make a big financial sacrifice for their adult child, half would give up their savings, 43% are ready to lower their standard of living for their adult child, and 26% are ready to become indebted to their child.

11% of parents believe that a child is most likely to reach school age, 44% believe that they are in school, 45% say that they are in high school and most often in adulthood.

31% of adults aged 18-34 live with their parents, one and a half times the 1960s, and more often live with their parents than their spouses at this age. According to a British figure, 32% of male offspring in England aged 20-34 and only 20% of females live with their parents.

The term “boomerang children” has appeared, with so many children moving back to their parents after a few years of separation.

Many parents take care of their child. This means doing things instead of what you would expect a kid to do for himself. At the age of seven, I still take him to school, but at age 13, he’s big enough to not have to carry me everywhere. I cook for her and wash her clothes when she is eight, but at the age of 25 I expect her to eat and wash her own clothes for her own money.

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