At last, a financial planner who isn't all bean-counter and estate-protector. There is, says Aaron Katsman, more to having an adult child move back home than rental agreements or fees for food. And more to providing them with a temporary stipend than a loan contract.
Keying in on the recent, economy-based phenomenon of older adult children--in their 30s and 40s--losing a job and either moving back home or needing significant financial assistance, he makes some points that struck a common-sense chord with me:
"Isn’t the point of having money, aside for trying to provide a comfortable lifestyle, to try and help out those less fortunate? Wouldn’t a struggling daughter fit that bill?"
"If parents are themselves stretched financially, they don’t have to actually shell out money for the child. Rather, they can provide a roof and help that way."
"Neither parents nor children view moving back home as a desirable outcome, but if left with no choice, would you actually refuse to support your child?"
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