There is definitely a sweet spot when it comes to family wealth. Not enough money comes with problems. Too much money comes with different problems. The numbers are different for everyone. One thing I’ve seen among the wealthier families we work with is a hesitation to give money to their kids for fear they will run into the problems that come with too much. I often tell these folks that money can be a rope, or it can be quicksand. It can help your kids up, or it can totally sink them. This depends on the amount of money, the method and, most important, the kid.
Below are three ways to help your adult child get ahead without having to fear it will sink them. The common thread is that each of these expenses lasts for a finite period. In working with retirees, I am much less worried about one-time expenses than I am about smaller, ongoing debits. You can plan for something with an end date.
