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MPR News with Angela Davis
Angela Davis and Maja Beckstrom

Why are so many parents financially supporting their adult children?

man holding out ten and twenty dollar bills
About half of parents provide some sort of financial support for their adult children, often at the expense of their own financial security and retirement.
Pexels | Karolina Grabowska

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How much is too much when it comes to the financial support of adult children? 

With the rising cost of living, more parents are supporting adult children for longer.  

One recent survey from Pew Research Center found a third of people in their early 30s received financial help from their parents.

Many parents struggle with where to draw the line between helping and enabling. How do parents support grown children in ways that help them move forward, toward a secure financial future?

And how can parents make sure they’re not putting their own financial future at risk by supporting their grown kids?

MPR News host Angela Davis talks with a Washington Post personal finance columnists and listeners about parenting, adult children and money.

Guest:  

  • Michelle Singletary is a nationally syndicated personal finance columnist for the Washington Post. Her award-winning column is called “The Color of Money.” And she’s written four personal finance books, including, “What To Do With Your Money When Crisis Hits: A Survival Guide.” 

Subscribe to the MPR News with Angela Davis podcast on: Apple Podcasts, Google Podcasts, Spotify or RSS.  

Use the audio player above to listen to the full conversation.