Comments on: When to Cut Off the Kids

By: EFX Moderator, EM

EFX Moderator, EM — Tue, 05 Feb 2013 22:49:55 +0000

John, These are all great tips. I’m sure our readers will find it useful. Thanks for sharing with us.

By: John L.

John L. — Sat, 02 Feb 2013 17:05:27 +0000

Set rules w/ children – regardless of age.

1) Keep assets out of one’s name.

2) Pre-neptual agreements are normal & perfectly acceptable.

3) Do not co-mingle assets

4) Carry liability insurance

5) Buy only what your need – NOT what you want. Buy w/ the long term in mind. Don’t be cheap.

5) Gold diggers (Smarmy salespeople, floozies, etc…) are everywhere, beware!

5) Remember the rules & follow them religiously.

By: Dianne

Dianne — Thu, 08 Nov 2012 04:31:38 +0000

My son went through a bad divorce. I vowed to help him get back on his feet as he was literally homeless. I drained a small savings account to pay for a divorce attorney, paid for food, sometimes rent. Christmas for my two grandchildren year after year.
Ended up with severe credit card debts. My dilemma made no difference to him.
I never came in contact with him without him asking for money for gas, a bill that was overdue….Always some hard luck story.
After 10 years I was totally being taken advantage of by my own son.
I would plead with him and tell him I was doing without necessities.
It fell on deaf ears. He did not care.
My sanity was in jeopardy, not to mention my marriage to his step father.
The situation did end; also my relationship with my son. We no longer have a relationship and do not speak.
I wish things could be different but the only way to end a bad situation, save my sanity and protect my health was to say “No”
to his demands.
My savings are long gone. I am retired but living from check to check with help from my husband (I could not make it without him. Our marriage was severely strained).
I rarely see my grandchildren and miss them tremendously, but trying to cope….