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Kiplinger
Kiplinger
Business
Diane Harris

How to Help Your Adult Kids Without Hurting Your Retirement

(Image credit: Getty Images)

saysFor the past several years, Jody King and Jim Vozar have made it their practice to give their four adult children a sum of money annually to help with their expenses. The "kids" — the couple each have a son and daughter from their first marriages, ranging in age from 25 to 38 — all have jobs and can cover essential bills on their own. But the financial assistance from Mom and Dad makes a meaningful difference.

"Everything is more expensive these days, from groceries to rent to cars; it's harder to buy a house, harder to save money," says Vozar, 56, who owns a real estate development and construction company in Nazareth, Pa. "We're happy we have the means to help our children, to create a good foundation for them moving forward, so they're not sweating every payment."

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