Practical Lessons for Your Financial Life (Collection)

Living the Consequences of Someone Else’s Choices

All choices, including investments, have consequences. While you’re managing the consequences of your own actions, you need to be careful not to inadvertently sign up for more consequences than you planned. This is sometimes illustrated in cases of parents who want to be supportive of their young adult children. In a slow economy, young adults may find their entrée into the workforce disappointing. They may have aspired to an exciting career and now are waiting tables. They may have loans and obligations, yet want to continue with the lifestyle they had when they were dependents. No parents want their children to struggle, so it’s tempting to be drawn into assisting financially while they are ...