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

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. 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 Learn more about your ad choices. Visit megaphone.fm/adchoices