Giving financial help to adult children
Sat in a boat for a couple of days with a friend last week. Solved all the world's problems.
Something we talked about at length was helping out our kids financially.
Generally, I've long been in the "let them make their own way" camp, but after talking with my friend I am rethinking some things.
His thoughts ....As an example, $10k contributed to a down payment on a house will save them much more than that in the long run. Why wait until you die to give them money when a small amount given now can help so much more?
What we have done is repay for post sec educations.
Also, sold my kid our old pickup for a steal of a price. He's saving tons by not making payments and putting the money towards his next vehicle.
What are your thoughts?
Have you helped your adult children?
What have you done?
What's reasonable? What's too much?
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