Suze Orman warns parents against managing adult children's retirement accounts
By
Damilola Esebame
Summary
Suze Orman advises a parent against managing an adult child's retirement account, arguing that financial dependence on parents carries hidden costs and undermines the child's sense of responsibility. She emphasizes that parents should let adult children manage their own finances, even if mistakes are made, as those lessons are valuable for long-term financial independence.
Source
bskySuze Orman warns parents against managing adult children's retirement accountsbit.lyKey quotes
· 3 pulledI don't want you to manage her money. I want her to manage her own money.
Financial dependence on parents carries its own cost.
Letting your adult child make mistakes now is better than them learning later when the stakes are higher.
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