Should You be the Bank of Mom and Dad to Your Adult Child? What to do when Your Adult Child Comes Looking for a Loan.
Submitted by Pilgrims Capital Advisors on April 23rd, 2016It’s an unfortunate sign of the times as an increasing number of adult children, caught in the convergence of a sluggish economy, a slow job market, and tight lending, are turning to the Bank of Mom and Dad for financial help. Moreover, as much as parents would do anything in their power to help their children in a time of need, most dread the day their child approaches them for a loan.
