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Cultivating Financial Independence

The image of an unmotivated adult child living in their parents’ basement is a well-known stereotype in American culture. Less expected, however, is the situation of a married college graduate with children and a stable career who still depends on parental support to cover expenses. Yet, this is the reality for nearly half of baby boomer parents.

A Savings.com survey found that 45% of parents with adult children provide financial support—often at a personal cost. Some buy discounted rental properties for their kids, dip into savings for emergencies, or send monthly allowances to help with student loans. The risk: as support increases, retirement security decreases.

Parents nearing retirement give the most—around $2,100 monthly—while saving just $643 for their own futures.

For more details on how to Cultivate Financial Independence in your adult children, click here for CAPTRUST at Work’s full article.

To schedule your one-on-one appointment with CAPTRUST, click here.

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Busted: Tackling Four Common Annuity Myths

MYTH: Annuities are not trustworthy

FACT: Many reputable annuity products are offered by respected providers

 

MYTH: An annuity isn’t useful if you already have retirement savings

FACT: Retirement annuities can help you round out your retirement financial plan

 

MYTH: Annuities have very high fees

FACT: Annuities are offered at a range of costs and some can even be tailored to you

 

MYTH: If I die, my money is gone and my family won’t benefit

FACT: Many annuities can be set to benefit your loved ones.

For full details on the Myths and Facts of Annuities read TIAA’s full article by clicking here.

Engagement Corner

TIAA: Help boost your financial know-how with TIAA’s live webinars — see the flyer below for topics and dates. To see currently scheduled live webinars or previously recorded on-demand webinars, visit www.tiaa.org/webinars2025.

Bar graph pointing up with the text University of North Carolina System Retirement Plans Performance Summary.