Are you financially fit? If you’re like three out of four people, the answer is, “No.” But it’s possible to make real headway toward financial security in just a few weeks. Here’s how:
* Finally: Cut off your kids. Research shows that almost half of middle-aged adults provide financial support to their grown kids. And even if that’s not damaging your retirement plans, it’s robbing your kids of the chance to be financially independent. Susan Ende wrote How to Raise Your Adult Children. And she says waiting until your child comes for their next handout to say, “Sorry, Junior!” will only create unnecessary resentment. Instead, sit down with your kids before they ask for anything. Tell them that you’re reducing their financial aid to zero over the next six months. And between now and then, you’re only good for cash for a real emergency like a busted water heater. Not just so they can afford to make payments on a nicer car than you drive.