Suze Orman Warns 1 in 5 Parents Against Cutting Retirement to Fund Adult Children
Updated
Updated · Money Talks News · Aug 3
Suze Orman Warns 1 in 5 Parents Against Cutting Retirement to Fund Adult Children
2 articles · Updated · Money Talks News · Aug 3
Summary
Nearly 1 in 5 U.S. parents supporting adult children say they would cut savings or retirement contributions, a move Suze Orman calls “the opposite” of good parenting.
44% of parents with children ages 18 to 35 say a child has moved back home, and 55% of those young adults said the return was financially necessary, according to Thrivent’s boomerang-kids survey.
47% of current boomerang parents said their finances have taken a hit, but Orman argues trimming discretionary spending is recoverable while missed retirement contributions in your 50s permanently weaken compounding.
76% of boomerang kids said their parents never explained how the support affected family finances, underscoring Orman’s call for clear limits, timelines and continued retirement funding.