A study shows that 50% of parents provide financial support to their adult children, with an average monthly amount of $1,474 given. However, some working parents are putting more money into supporting their grown kids than into their retirement savings, averaging $1,589 monthly. This could jeopardize their retirement security, as 79% of parents worry about setting themselves up for a comfortable retirement. Prioritizing retirement savings over financial support for adult children is crucial to ensure financial stability in retirement. It’s important to set boundaries and consider other ways to support grown kids without sacrificing one’s own financial security.

Read more at Nasdaq: The Surprising Reason 50% of Parents Risk a Retirement Savings Shortfall