At What Age Should Your Parents Stop Supporting You?
Parents stop supporting their children when it is becoming a burden for them, their children are able to support themselves. They are determined to right for them to do so. There is coming the point in every child’s life when their parents will be cutting them off financially.
After all, they are needed to be able to support themselves without the help of mom or dad. The hard part for parents is knowing when. Kids can make it on their own after the age of 18.
Of course, if they are in college and still getting an education, stop supporting kids financially might be closer to 22 or 23.
When Should Parents Cut Kids Off?
Age 22 or 23 is just one factor in determining parents stop supporting. If you notice any of these situations, it may be time to rethink the money you give your kids.
You Haven’t Saved for Retirement
You are planning on your children supporting you during your golden years, you need to have retirement savings. If you have had to stop your contributions or find your accounts behind where you should be, it might be the right time to cut kids off financially.
Your Kids Aren’t Grateful
When you are giving your child money, you do it out of love for them. However, if they have no gratitude or feel entitled to your money, it might be time to rethink things. If your child is expecting money from you and never says one word of gratitude, it may be time for the bank of mom and dad to close its doors.
You Have No Emergency Fund Savings
Everyone needs a strong emergency fund. But, if yours has been depleted to help your kids, it may be time to tell them no. You need to focus on your financial situation first.