Should parents bail their children out of money situations?March 21 2012 at 3:16 PM
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|Rainbow (no login)|
Just out of curiosity, comparing family economics to government and business economics:
Would you bail your children out of bad money decisions, especially if it affects their children (your grandchildren)? What if they were about to lose their home and end up "living in the streets"? Remember, this would also affect the minor grandchildren. How far should a parent go to help?
Let's throw this in the mix: What if the parent had credit card debt of $20,000? Should a parent go further into debt or tap into their retirement savings to bail their children out?