Watch Out For KIPPERS

10/11/2011 21:53

KIPPERS - that's Kids in Parents' Pockets Eroding Retirement Savings to you and me - are the bane of older parents' lives. KIPPERS in this countryTB0-110 are costing their parents more than £2 billion a year!
Of course you love them. You want to help them, and when they've split up with their partner and need support bringing up their children, you should help where you can.
But now you should...
Take a deep breath
Remind yourself that you don't want to be a burden to them later on but you will be if they take your money from you now
Remember that you're going to need a decent amount of money to retain your own independence for as long as you can

Sometimes even older children in their 30s and 40s need to learn lessons and be forced to stand on their own two feet. It's up to you, but if you are at least aware of what's going on - and the fact that you're not the only one being leaned on - you can make a more informed decision about how to deal with your KIPPER.
Take action
Set some goals for yourself. Family is a priority for most people, but your childrens' desire for the latest car, holidays or multiple career changes should not come above your need for financial security. What do you
Sit down and share your plans with your KIPPERS. Too often parents, grandparentsTB0-109 and their off-spring fall into a nasty cycle where KIPPERS take, take, take: abusing the Bank of Mum and Dad because the parents let them. Try to explain some of your needs and make quite clear what you expect of them. One action plan might be to be earning a self-supporting wage within a year; moving to their own accommodation within 18 months and becoming financially independent in two years.
If your children still aren't getting it, or don't know how to manage their own money, send them to 'Money School'! In other words, get them financially literate so that they can learn how to set goals, clear debts, live within your means, save and invest for the future.
If allTB0-108 else fails, kick 'em out! It seems harsh, but sometimes it's the only way your KIPPER will learn how to be independent. It could be the making of them.

Back