When your adult children keep asking for money, here’s what to do

Playing the Tooth Fairy and leaving kids a few bucks under their pillow is a fun family tradition. Fast-forward a few decades and a less joyous ritual can take hold: Those once-cute children now repeatedly ask you for money.

Loving parents often struggle to say no. Toss in a dollop of guilt and it’s almost impossible to turn away from an adult child’s plea for cash.

“I’m a parent,” said Adam Bergman, president of IRA Financial Group in Miami Beach. “I’m not sure I’d be able to say no. It becomes, “OK, how can I help?’”

He warns parents under age 59 ½ to consider the source of funding before agreeing to a cash giveaway.

>>> Original Source <<<