Habit #2: Supporting Adult Children at Their Own Expense
This one hits differently. Parents want to help their kids — that’s instinctual. But many boomers are giving support in ways that compromise their own financial security. Think paying adult kids’ bills, covering vacations, or footing the bill for lifestyle extras.
Look, helping occasionally? Totally fine. Doing it consistently, at the cost of your own savings? That’s dangerous. When retirement rolls around, many boomers realize they’ve sacrificed their own comfort to prop up someone else’s lifestyle.
Real Talk Example: Sarah’s 62, has been helping her 32-year-old son with rent for years. She thought it was temporary. Now? She’s running low on her retirement savings and feels stuck.
Actionable Fix: Set boundaries. Offer help that doesn’t compromise your future. Maybe contribute once a year, or help with skills — like financial literacy for your kids — instead of cash. Make it clear that your support has limits, and stick to them.
