Shiela Padden was quoted in an article that recently appeared at Investment News. Written by Liz Skinner, the article, Forget The Empty Nest, Parents Now Fear The Costs of A Full One spotlights the financial impact on parents when adult children confront a difficult job market post-graduation.
“Parents are not saving enough for their own retirement because they are continuing to support their adult children,” explained Sheila Padden, founder of Padden Financial Planning. “In the long run, parents aren’t doing young adults any favors because they have to learn early on what it takes to support their lifestyle.”
“By allowing children to support themselves early in life, it’s a vote of confidence that they can do it,” Ms. Padden said. “They can figure it out.”
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