You Aren’t Prioritizing YOUR Future

Do you have children? How often do you help your children with money? How many of you think that it’s more important to prioritize their college education, for example, instead of your retirement?

Unsurprisingly, 52% of parents think this way. What’s more, 53% of the participants of the same survey said they would willingly tap their retirement savings instead of letting kids take out student loans. That’s mainly because parents do not want to put undue burdens on their children- understandable, right?

But here’s what’s likely going to happen: you won’t have sufficient funds for your retirement, meaning that your children will likely have to step in. So you’re right back to square one!

Not only that, but 65 million people also provide care for aged, chronically ill, or disabled family members, according to the Caregiving Action Network. So if you’re doing both, you’re definitely not prioritizing your retirement plans.

While helping out is important, it’s best to try to look for other avenues before you start handing money off left and right. It’s time to think about YOUR future too.