One of the fundamental tenets of the book “Financial Lovemaking 101” is that your children should be a part of your long-term prosperity plan. But if your kids can’t take care of themselves, then you’ll end up having to do it for them.
One of the saddest trends occurring right now is the advent of grandparents raising the children of their own children. So, this means that, not only are your finances being drained by taking care of your kids, you are also taking care of their little children too.
Yvette Carnell at BreakingBrown.com discusses the trend. Read more:
Is the nuclear family a thing of the past? A report in USA Today, which says that more grandparents are raising their grandchildren, seems like the nail in the coffin of the traditional two parent home.
The paper interviewed an unnamed couple in New Jersey who anticipated retiring, but couldn’t because they’re caring for grandchildren.
The Census reports that 4.9 million American children are being raised solely by their grandparents, which is double the number from the previous Census.
From USA Today: