How can we decide how much money to give away to our adult child(ren) if we don’t know how much we as parents are going to need? The 2013 Pew Report found 50% of middle-aged parents said they are their adult child's primary means of support. In the same report, more than 30% of the parents said they provided support for adult children for reasons other than education.
Couples often ask me how best to manage their bank accounts. It seems that lots of couples, from newlyweds to longtime loves—and everyone in-between—wonder about this topic.
There is no textbook right or wrong way for couples to manage their bank accounts. Different things work for different people, but the two most common ways I see are: