10 Ways Children Can Ruin Your Retirement

kids and retirement

Discussing children and money in the same sentence can be dangerous. Most parents want to be able to support their children financially, but sometimes worry how to do so without putting their own futures in jeopardy. Children can be expensive, so when it comes to planning your retirement, you need to figure out a way to balance your financial security and your relationship with your children.

Taking on Their Debt

Do you know why credit card companies are so eager to hand out credit cards to new college students? Because they know that if the students rack up large debt on them that they later realize they can’t pay, mom and dad will likely bail them out. It’s all well and good

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5 Responses to 10 Ways Children Can Ruin Your Retirement

  1. Lisa says:

    Oh, look, another list of ten things to do or not do. How about some articles without that writer’s crutch?

  2. I was only 20 when I had my daughter,I’m not that financially stable but I really tried my best to be a good mother to her.Right now I’m slowly saving for our future she had already her own savings account.

  3. Kostas says:

    The bulk of these are incredibly common with many parents and their children. My parents always wanted the best for me so they helped whenever they could, but they also remembered to take care of themselves also, it is possible to do both, I’ve seen it done.

  4. Minny says:

    Having them too late can also be a killer financially. People starting their family in their late 30s and early 40s may be established but the time for retirement drifts further and further away for many of them.

  5. I have been teaching financial literacy for over a decade and have talked to literally hundreds of parents. The interesting part is that so many parents KNEW they were doing these harmful things to their children but they just didn’t know how not to.

    Great article!

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