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
2588: You May Be Broke But Not Broken by Kiersten Saunders of Rich and Regular on The Tactics of Paying Off Debt
2587: Ways To Help Others Without Hurting Your Own Finances by Vekevia Tillman-Jones with Financial Finesse on Giving Back Frugally
2586: How To Learn To Love Self Care by Victoria Faling with A Brighter Wild on Personal Well-being
2585: What You May Not Know About Impulse Spending by Jackie Beck on Financial Goals & Budgeting
2584: 5 Ways to Solve Your Top Retirement Concern - Outliving Your Money by Kathleen Coxwell of New Retirement on Financial Security
2583: That Clutter in Your Home Used to be Money by Craig Stephens of Retire Before Dad on Spending Mindfully
2582: How To Reach Financial Independence On A Low Income by Christina Browning of Our Rich Journey on Savings Strategies
2581: What Do You Do After You Make A ZILLION Dollars? by James Altucher on Sudden Wealth & Financial Management
2580: How to Manage Your Career to Make Millions More by ESI of ESI Money on Wealth Building Advice
2579: The Biggest Lie in Personal Finance by Nick Maggiulli of Of Dollars and Data on Retirement Myths
2578: Moments Can't Be Captured by David Cain of Raptitude on Fleeting Moments
2577: [Part 2] 5 Tips For Making Extra Money by Philip Taylor of PT Money on Goal Setting and Hard Work
2576: [Part 1] 5 Tips For Making Extra Money by Philip Taylor of PT Money on Side Hustle Ideas
2575: Pension, Schmension! Retire on Your Own Terms by Mr. Money Mustache on Financial Independence
2574: What Is Portfolio Rebalancing? (And How To Do It) by Sarah Sharkey with The College Investor on Asset Allocation
2573: 6 Things You Should Never Scratch Off Your Budget by Courtney Luke of Arrest Your Debt on Savings and Health Insurance
2572: Utility on Investment by Tynan on Financial Freedom
2571: 5 Ways to Involve Kids in the Family Budget by Chelsea of Smart Money Mamas on Financial Literacy For Children
2570: When Life Throws You Curveballs by Julie Morgenstern on Parenting Challenges
2569: Stop Using These 6 Ridiculous Excuses For Not Saving Money by Michelle Schroeder-Gardner of Making Sense of Cents on Financial Health
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Optimal Living Daily
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show