While some parents enjoy their lives as empty nesters, others call the financial care of their adult children.
A California-Based Mother, 66, Who To Stay Anonymously Talked With Recently With CNBC About how much she and her husband pay to financially support their 27-year-old daughter.
The mother told the publication that her daughter moved back home in early 2024. Sales then, she and her husband have paid extra $ 5,000 per day. Month, including $ 1,500 on food, $ 700 on transport, $ 400 on his pet tax, plus others miscellaneous.
With the extra money that was allocated to their daughter’s expenses, the mother said she and her husband were no longer going on vacation this year and her Sprouse is considering delaying his retirement.
“We did not plan this kind of expense at this time in our lives,” she said. “The reason we do is because we don’t want to see her on the street.”
The father explained CNBC That his decision not to withdraw binds on his employment -backed health insurance that is currently driving him and his wife $ 600 for their daughter.
“At this point, I was hoping to make much more travels … We really put it on the back of the burner,” the mother said. “I thought my husband and I want the house to pour with the dogs and we will be worried about her all the time.”
These parents are not alone, as a study published in May by the provider of financial services Thrivent, discovered that nearly 40% of parents in the United States claim that support for their adult children has an impact on their savings target.
Some, like California’s parents, have turned to Kim Munch, a parentinger who specializes in young adults. She told me CNBC How customers who are financially influenced by their children living at home are doing.
“Parents sometimes hesitate to get help with themselves and invest in their health … because they are already using more than they would like to support their adults or new adult children,” Muks said.
When the event is extended, she said parents end up being worried that they will provide for their child for the rest of their lives.
According to Muench, the best method of trying to get the problem is for parents to continue to have conversations with their children and to set financial boundaries. “It takes consists of conversations because it probably won’t happen in the first conversation,” she said.
“And it takes an emotional level of maturity on both the parents and the new adult side to find out how they can work together.”