At CoreFirst Bank & Trust we have seen customers earn lots of money. With our coaching and guidance, a lot of them have been able to hold onto it and have seen their wealth grow.

But for many others, that hard earned money just seems to slip between their fingers, leaving them pinching pennies in their “golden” years. What happens to the money?

Time and time again we have seen adult children damage the financial health of their parents! Parents love their children and want them to be happy. When adult children call for a “loan,” or for a “little help” for an overdue car payment, loving parents willingly give. Pretty soon it just becomes a habit. Adult children ask for money and come to expect it will be given. And rather than show gratitude, they often grow to resent their parents.

In the worst cases adult children lie to their parents. “There’s a screw up at the credit card company and they are going to sue us if we don’t pay now.” “The car needs a new engine and transmission.” “I need a very rare medical treatment.” Parents pay for these things without asking for any proof. Parents can’t believe their own children will lie in order to get money from them.

It’s simple: parents who financially support their adult children face declining wealth - and their adult children are never forced to take responsibility for their own affairs.

If you know someone whose adult children are always asking for money, we can help. The Trust Officers at CoreFirst Bank & Trust officers invite you to bring your concerns to us, for an in-person review of your situation. Send your inquiry to kjohnson@corefirstbank.com.