Giving Financial Support to Adult Children
Created: March 18, 2022
Modified: April 22, 2022

Giving Financial Support to Adult Children

As couples have children later in life, they can be faced with saving for their own retirement and considering an adult child’s requests for financial help. Many of today’s twenty-somethings are underemployed despite having earned a college degree. Now that the suspension of federal student loan payments is about to end, they’ll be servicing this debt along and paying higher prices for everything from food to gasoline.

If you’re a pre-retiree and parent of an adult child who asks for financial help,  you’ll probably want to mull over the decision. As a parent of adult children, I know this decision can be difficult. Saying yes could pose a hardship for you, but saying no could seem unreasonably harsh.

It’s not my place to tell clients in this situation what to do. My role is to help them think through the consequences of their reply and identify financial alternatives to the bank of Mom and Dad.  

I do, however, have an opinion on the subject: Individuals who are close to retirement need to prioritize their own financial well-being. Supporting grown children isn’t noble if it leads to bankruptcy. It certainly sends offspring the wrong message about smart money management.

Younger adults have other options. They can take out loans and have time to pay them back. They can even work a second job temporarily. In contrast, pre-retirees don’t have access to retirement loans and are unlikely to land more lucrative job opportunities.

An adult child’s request can open the door to an honest discussion about money. Every generation in a family has financial challenges, and a frank conversation is often the fastest route to win/win solutions that can keep the peace.

Schedule Free 15-Minute Call
We want you to have the opportunity to have any questions about money answered with no obligation.
  • Sandy and Thomas C.
    Sandy & Thomas C. are clients of Johnson Brunetti and received no compensation for their statement.

    “We always felt our financial needs were in very capable hands. Alex Angst is great to work with. Our advisor always made us feel he had our best interests at heart and explained things so we could understand them.”

  • Robert G.
    Robert G. is a client of Johnson Brunetti and received no compensation for his statement.

    “We’ve been clients of Johnson-Brunetti for > 10 years. We’re enjoying a comfortable retirement as a result. Many thanks to Joel and our CFP, Eric Hogarth. I wish we had plugged into this decade approach back when we were in our 30s.”

  • Lisa D.
    Lisa D. is a client of Johnson Brunetti and received no compensation for her statement.

    “Working with Johnson Brunetti has had a positive impact on my life by providing me with the knowledge, confidence, and peace of mind to move forward with my retirement plans. The process of getting to this point, through their guidance, has been informative and pleasurable.”

  • Ken D.
    Ken D. is a client of Johnson Brunetti and received no compensation for his statement.

    “I view your company as one that puts my interests first. I think that is very uncommon and very refreshing. “

  • Jeanne P.
    Jeanne P. is a client of Johnson Brunetti and received no compensation for her statement.

    “Matt does an awesome job! So easy to understand and he listens to our concerns and addresses them! happy I chose your firm!”

  • Anonymous
    This testimonial was provided by a client of Johnson Brunetti and received no compensation for their statement.

    “I have been pleased with the help and service I have received from the company. I have met several team members on Eric’s team and have found all of them very well prepared to meet with me when reviewing my portfolio. I always feel that I am an important customer and appreciate that very much. I hope the firm continues to focus on the customer and maintains its great service. I think you do a great job for someone like me!!!! I’m happy I chose your firm!”

    Johnson Brunetti
    Welcome to Our New Website!
    Everything was designed with you in mind, making our retirement planning resources more easily accessible to you.
    Check out your new resource center, where everything can be organized by article type or topic
    Are you ready to speak with a financial advisor?
    Johnson Brunetti

    Investment Advisory Services offered through JB Capital, LLC.
    Insurance Products offered through JN Financial, LLC.
    Atlanta • Boston • Hartford | Tel: 800-208-7233

    JB Capital LLC is a federally registered investment adviser under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. Information presented is for educational purposes only and is not intended as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.

    JB Capital's Form ADV | Disclaimer | Privacy Notice | Client Relationship Summary

    *Information about our Affiliation with the UConn Huskies

    Johnson Brunetti is a sponsor of WFSB Better Money, WCVB Better Money Boston, WSB-TV Better Money Atlanta, WTNH Money Wisdom, and WTIC Money Wisdom.