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Having children can be a joy.
After youve raised your kids to adulthood, hopefully theyve become financially secure and independent.
But in todays economy, itseems that this isnt the case with many adult children.
With that being said, many older parents dont have the money to support their adult children.
Supporting your adult children should never mean sacrificing your own financial security.
If youre a boomer in this category, dont fret.
Here are fiveways boomers can help their adult kids financiallywithout giving them a dime, according toKiplingerandKids Aint Cheap.
Help Them Build Credit
Building a positive credit history is key to financial security.
Most companies will allow you to add them as young as age 16.
Once they enter adulthood, theyll already be ahead of the game.
Its important to show your kids how investing works and why its important starting from a young age.
Talk to Them About Taxes
Everyone in the workforce has to pay taxes, theres no way around it.
That includes your kids when they get their first part-time job.
Provide Emotional Support
Managing finances can be overwhelming especially when youre just starting out.
But, emotional support and guidance as your kids start to get more involved with finances is key.
Do your kids a favor and teach financial literacy while youre raising them.
Your wallet will thank you later.
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