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GeneralAre parents obligated to assist their kids financially with a lump sum of money to start life when they turn adults?
Turning into an adult logically means that one needs to start fending for themselves and cut back dependence on parents. Some people say that parents should give a child that has turned adult a lump sum of money to start life and lay a foundation for adulthood.
Maybe something in the region of $3k up. Did your parents give you a lump sum of money to use and start your life? Would you give your child a lump sum of money to start life?
It depends on the parents. If the parents are well-off, then they can assist their kids with their financial needs in a lump sum. Some parents have a separate savings account for their kids and use it only when they are ready to face their own world of independence.
My parents didn't give me any lump sum to start my life with. They could afford to give me $1k at the time but they didn't give me because I moved out of the house against their wish. It is all fine though. I would give my children a lump sum of money tp ease their journey through financial independence.
Every reasonable parent is obligated to give their child a financial headstart when those kids are stepping out to face the world on their own. It might not even be money but it can be a valuable equipment for the craft that the child is earning from. Parents should not allow their kids to start life without any financial push from the parents.
I think it is irresponsible for a parent to let his child leave home to face the world alone without substantial financial banking to help him start something. If my child wants to do business, I would raise at least 80% of the startup capital for him or her.
I do not think parents are obliged to give money to their kids. However, I also believe that it is the responsibility of parents to pay for their child education and make them qualified to get a job. If parents have money and if their adult child needs something to start on his own, I also believe that parents can support their child
