My general rule of thumb for parenting is to let children, be they five or 35, do as much as possible for themselves. It makes them feel strong and competent and that goes a long way to making them feel happy.
While many parents are quick to help their adult children buy a house, my husband and I have not helped finance our children’s mortgages. I am happy with our arrangement as it leaves us with much less complicated relationships.
Our children don’t feel financially beholden to us and because we have no propriety interest in their property, we’re more likely to refrain from giving unwanted advice. In addition, our children have no sense of entitlement to our other assets. I have seen this happen when parents help with mortgages and understandably, the parents are resentful. Read More