Category: fox-business/lifestyle/wealth-management

Time to cut the cord? The signs parents are ‘coddling’ their adult kids and enabling bad money habits

Parents helping their adult children financially can be welcome and needed, but certain dynamics could lead to “enabling” or “coddling,” with bad money habits signaling a need to cut the cord. When it comes to ensuring one’s kids are fiscally responsible adults, Washington Post columnist Michelle Singletary says there is a “fine line” between helping and “hindering” sons and daughters when aiding them financially. According…

Great wealth transfer is underway in US — to women

There is an enormous undercurrent affecting the world of wealth management in the U.S. that continues to swell, driven by shifts in demographics, culture, families and career trends. It is the greatest transfer of wealth the nation has ever seen, and financial advisers say they are bearing witness to it already. A McKinsey & Company study released in 2020 found women are set to control…

Nearly half of young adults say they are ‘obsessed’ with being rich, and financial consequences may ensue

Young adults are more likely to admit they are “obsessed” with chasing after the high life, according to a new survey by Credit Karma and Intuit. The survey conducted by Qualtrics on behalf of Intuit Credit Karma in December 2023, found 44% of Generation Z and 46% of Millennials say they are “obsessed with the idea of being rich,” compared to 27% of all Americans….