In the best-selling book The Millionaire Next Door, the authors studied the impact of gifts of cash to children in their 30s and 40s. The essence of their research was that for most children, gifts of cash are typically spent ... and those who received cash gifts actually had less in savings by retirement age than those who received no gifts. (Source: Crescendo Interactive) What do you think — should parents give cash to adult kids?
Posted On
July 15, 2010Updated On
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Tim Postuma on July 21, 2010
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