A lot of parents want to help their children financially even when they're adults and have children of their own, according to the Wall Street Journal.
Often times when parents lend their adult children money, it leads to trouble. Providing financial help to make a down payment on a home or pay for their education can be worthwhile investments. But parents should think twice before bailing out their adult children when they've made bad choices, according to the article.
The parental financial rescue could actually be worse for the child in the long term. To stay away from disaster, parents should be sure that helping the child won't harm their own finances, according to the Wall Street Journal. Parents also need to be sure the help won't lead to further self-destructive behavior. If financial assistance is provided, parents should make the conditions clear and halt the financial help if those conditions aren't met.
Click to read the complete article at the Wall Street Journal.
EMAIL: [email protected]