I work in the financial services industry (investments and planning) and see on a regular basis adult children sponging off their parents, sometimes when the "kids" are well into their 50s. It's a pandemic.
While some of our clients are wealthy enough to be able to afford to dole out regular cash payments and gifts of stock to their unemployed or "down on their luck" children, many can't and are funding not only their kids' irresponsibilities, but their own demise--and sometimes bankruptcy. These unfortunate (other words come to mind) people are going to be working until the day they die or are physically unable.
A lot of people assume that once their children become "adults" they won't be financially dependent on them anymore. WRONG! From what I've seen, a lot of parents don't have the ability to say no. That's their own fault, of course. I feel sorry for the parents and sickened by the so-called children.
Children are a financial burden, not an asset. Do you think those kids are going to be there for Mummy and Daddy when they need care and assisted living? Probably not.
