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74% of parents help adult children with finances – Yahoo Finance

Seventy-four percent of parents help pay for their adult children’s living expenses, according to a new and BankRate survey.

The cellphone bill is the most common expense parents help pay, and other top expenses they assist with include transportation (e.g. car repairs, gas), rent and utilities.

In total, 52% of parents said they helped their children pay down their student loan debt. Respondents aged 55 and over were significantly more likely than those aged 35-54 to help their adult children with debt payments.

Meanwhile, only 16% of respondents said they helped an adult child pay a credit card bill.

Grown adults are still dependent on their parents senior industry analyst Matt Schulz says parents who feel compelled to assist their children can face some negative repercussions. While their generosity comes from a good place, it may not be wise.

“In helping their kids, parents can get themselves into some trouble. The vast majority of Americans are going to struggle with retirement savings. That money isn’t going into your retirement accounts in the future. It’s important that parents don’t do so blindly without understanding what the potential ramifications are for their own futures,” he told Yahoo Finance.

“The truth is not all parents are good role models with their finances. The truth is a lot of parents have great intentions but aren’t necessarily equipped to give the best advice,” he added.

Market research firm YouGov interviewed 1,092 adults with children 18 and over to do the survey. The company did not break down the respondents by how old their children are. It’s safe to surmise that those 22+ would receive substantially less help from their parents, after graduating college and receiving some sort of income.

Then, of course, there are those parents who cut their children a check every month or perhaps once a year. In these instances, they might not be helping their adult children out of necessity — instead, they may be subsidizing their kids’ luxury wardrobes or fancy dinners.

As fresh college grads flock to expensive cities for high-skilled jobs, they struggle to cover their day-to-day expenses with meager entry level salaries. Nearly half of folks in their early 20s get help from their parents to pay for rent, according to surveys cited earlier this year by The New York Times.

Melody Hahm is a senior writer at Yahoo Finance, covering entrepreneurship, technology and real estate. Follow her on Twitter @melodyhahm.

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Alleged Noel Night teen shooter to be charged with ‘adult …

DETROIT, MI — A 16-year-old accused of causing mass chaos and opening fire during the annual Noel Night holiday celebration in Detroit’s Midtown on Dec. 2 could be sentenced as an adult if found guilty. 

The juvenile, Calvin Stephens, of Detroit, is charged with four counts of assault with intent to murder and felony firearm.

The victims, who all survived, include: a 19-year-old man, 17-year-old girl, and two boys, 14 and 16. 

The shooting, which stemmed from an argument, occurred about 7:30 p.m.  between Detroit Institute of Arts about the Detroit Science Center.

Detroit Police Chief James Craig said nearly 120 officers were assigned to patrol the 45th annual holiday celebration that draws thousands. 

Because Stephens is being charged with an adult designation, that means he’ll face trial in juvenile court. If found guilty, the designation means he could be sentenced as a juvenile, as an adult, or receive a mixed sentence consisting of time spent in the juvenile detention system before transfer to the adult system.

Stephens is scheduled to appear in juvenile court Tuesday at 9 a.m.

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FDA launches public education campaign to encourage adult smokers trying to quit cigarettes

Today, the U.S. Food and Drug Administration announced an adult smoking cessation education campaign aimed at encouraging cigarette smokers to quit through messages of support that underscore the health benefits of quitting. These messages will be displayed in and around gas stations and convenience stores – retail locations where smokers face a multitude of triggers and that typically feature cigarette advertisements. The “Every Try Counts” campaign targets smokers ages 25-54 who have attempted to quit smoking in the last year but were unsuccessful. The two-year campaign launches next month in 35 U.S. markets and features print, digital, radio, and out-of-home ads, such as on billboards.

“Cigarette smoking remains the leading cause of preventable disease and death in the U.S.,” said U.S. Surgeon General VADM Jerome M. Adams, M.D., M.P.H. “As Surgeon General, I believe sustained and comprehensive efforts, including the FDA’s ‘Every Try Counts’ campaign, are critical to encouraging more Americans to quit smoking and preventing the harms associated with cigarette use.”

“The ‘Every Try Counts’ campaign encourages smokers to rethink their next pack of cigarettes at the most critical of places — the point of sale. Tobacco companies have long used advertisements at convenience stores and gas stations to promote their products, and we plan to use that same space to embolden smokers to quit instead,” said FDA Commissioner Scott Gottlieb, M.D. “The FDA is committed to reducing tobacco-related disease and death by helping people quit combustible cigarettes and implementing comprehensive policies to reduce addiction to nicotine. Our aim is to render cigarettes minimally or non-addictive, while encouraging the development of potentially less harmful tobacco products for adults who still want or need access to nicotine. At the same time, we’re also taking new steps to improve access and use of FDA-approved medicinal nicotine products to help smokers quit.”

Cigarette smoking is responsible for an estimated 480,000 deaths in the U.S. each year. Despite declining rates of use among adults, 15 percent (36.5 million) of adults in the U.S. were cigarette smokers in 2015. Of those adult smokers, about 2 out of 3 (more than 22 million) say they’d like to quit. While more than 55 percent of adult smokers made a quit attempt in 2015, only about 7 percent were successful.

“Every Try Counts,” seeks to celebrate each quit attempt as a positive step toward success because research shows those who have tried quitting before are more likely to try again, and those who have tried to quit multiple times have a higher likelihood of quitting for good. In addition to the positive messaging, location plays an important and unique role in the campaign. Ads will be placed in various locations at the point-of-sale, including at the gas pump and other places around the retail environment such as the front door, cash register and shelves. Studies show that in-store displays and other tobacco advertisements can trigger unplanned cigarette purchases, making quitting more difficult. Placing ads in those same locations will help to disrupt the urge to purchase cigarettes and encourage another quit attempt instead.

“Tobacco advertising in retail environments can generate a strong urge to smoke, prompting a relapse among those attempting to quit. This campaign offers smokers motivational messages in those environments with the intention to build confidence and instill the belief within each smoker that they are ready to try quitting again,” said Mitch Zeller, J.D., director of the FDA’s Center for Tobacco Products. “We want smokers to feel good about each attempt to quit because it is getting them closer to one day leading a healthier life free from cigarettes, reducing their risk of tobacco-related death and disease.”

The FDA has partnered with the National Institutes of Health’s National Cancer Institute to create to provide smokers resources and tools to help with quitting. The website includes a free text message program that sends tips and offers words of encouragement, a mobile app to track smoking triggers, trained coaches accessible online or by phone, and information about the risks of smoking and the variety of FDA-approved smoking cessation products. Aligned with the campaign’s efforts, the American Heart Association, American Lung Association and Truth Initiative have also pledged resources, such as hosting local smoking cessation events in the “Every Try Counts” target markets.


“Every Try Counts” is a part of the FDA’s ongoing efforts to reduce the enormous public health burden of tobacco use and will complement the agency’s at-risk youth and young adult education campaigns aimed at prevention. The campaigns, which are funded by user fees collected from the tobacco industry and not by taxpayer dollars, are based on the best available science and are evaluated to measure effectiveness in changing tobacco-related knowledge, attitudes, beliefs, or behaviors over time. “Every Try Counts” will complement existing and proven cessation messaging focused on hard-hitting health consequences from the U.S. Centers for Disease Control and Prevention’s “Tips From Former Smokers” campaign.

The campaign also complements the agency’s comprehensive plan on tobacco and nicotine regulation announced in July 2017. The approach places nicotine, and the issue of addiction, at the center of the agency’s tobacco regulation efforts. In particular, the plan focuses on addressing the role that nicotine plays in keeping smokers addicted to combustible cigarettes, and to help move those who cannot quit nicotine altogether onto less harmful products.

The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, products that give off electronic radiation, and for regulating tobacco products.


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1 adult, 2 children dead in apparent murder-suicide in Texas, police say

NORTH RICHLAND HILLS, Texas – Police in Texas are investigating what they call an apparent murder-suicide involving two small children and an adult male, CBS Dallas / Fort Worth reports.

Police say the mother found her two children, a 5-year-old girl and a 9-year-old boy, dead along with their father.

Initial investigation reveals the father shot the children with a shotgun before shooting himself, police say.

According to police, there was no prior history or prior 911 calls with the family.

Neighbors told CBS Dallas / Fort Worth they saw the family just a few days ago, setting up Christmas decorations outside the home.

“You can drive by and they can have a perfect house, but you don’t know what’s going on inside the house. It’s so sad,” said neighbor Rosa Nichols.

Nichols, who lives a couple of houses away, said the family moved in just a few months ago. Live every other neighbor CBS Dallas / Fort Worth talked to, she never had a clue that the family was having troubles.

“You never know. You just have to be kind to people when you have a chance because you don’t know what they are going home to,” said Nichols.

Mike Bentley said he drove by the house Saturday because it was once his home. It was the house he grew up in and a house he always wished another family would enjoy as much as his family did.

“We lived there for several years and had some happy memories and sure hate to have sad memories made there for these families. For this family, we don’t know you, but we sure feel for you,” said Bentley.

Neighbors also said the grieving mother had to be taken away from the scene by ambulance Saturday morning.

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Someone’s adult

Rain and school dismissals are a sloppy combination. I waited in the parking lot for the second-grade to release my 7-year-old niece Emma.

I stood in a puddle because I could — thanks to my cool rain boots. I held my “raining cats and dogs” umbrella in front of my face and twirled it like a colorful windmill on a stick.

I wondered if Emma would recognize me behind her favorite umbrella and mine.

A teacher shouted instructions to the children emerging from the heavy double-doors.

“If you don’t see your adults, please step to the left,” she said.

Until that moment, I had never considered myself as someone’s adult.


I glanced at all of the people who waited along with me in the parking lot. No two adults looked the same. Kids’ adults come in all ages, shapes and sizes.

It occurred to me that one does not have to be a parent to be someone’s adult.

I guess I was the adult for my Cub Scouts and Brownies. I guess I was many someones’ adult when I led the youth group at church and again when I coached the high school tennis team.

And, I guess I was my children’s adult when they were, well, children.

My cats and dogs umbrella spun round and round as raindrops bounced off my head. It’s one thing to be an adult, I thought, but someone’s adult? That’s heavy stuff.

What criteria transforms a child into an adult? It has to be more than the DOB on a driver’s license.

Eighteen is voting age, the age one can join the military and fight for his or her country. Some — not all — 18-year-olds want to be treated as adults, yet they cling to the fringe benefits of childhood.

They want to come and go on a whim but expect Mom to cook and clean for them. They say they’re old enough to drive to California, but want Dad to dole out the allowance that covers gas and expenses.

At eighteen, Gary was an adult. Me? Not so much.

Twenty-one is the legal drinking age, but that magic number doesn’t guarantee responsibility. At 21, I was a wife who helped pay the bills. At 21, I was homesick for my parents.

By the same token, there are 40-somethings who are obsessed with video games. There are 50-somethings who work hard not to grow up.

Webster defines an adult as “having attained full size and strength; grown up; mature.”

Trust me, full size and strength do not make an adult. The key word is “mature.”

To be a full-fledged grown-up, one must make wise choices. Full-fledged adults are responsible for their cars, their homes, their bills.

What the Peter Pans don’t realize is that full-fledged adults also play. Fun is essential.

They join basketball leagues.They go to dinner with friends. They shop. They hunt. They fish.

Adults host parties.They carry out crazy pranks, sing silly songs and play with their kids’ toys. They laugh at themselves.

What separates an everyday adult from, a “someone’s adult” is that a “someone’s adult” happily puts the needs of his or her someone first, always.

Thoughts danced in my head as kids piled over to the left, scanning the crowd to find their adults. I continued to twirl my umbrella as I considered, for the first time, my role as someone’s adult.

Then, I felt my someone tug on my jacket.

“Aunt Genny, you brought the cats and dogs umbrella! What are we gonna do today?” said a small voice.

“What are we going to do?” I said as we skipped through puddles, her hand in mine. “We’re going to pick up your brother and go to a movie!”

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Here’s How Much Supporting Your Adult Children Might Cost You in Retirement Income

As a parent, it’s natural to want to give your children the best opportunities in life, and that holds true once your kids turn into adults. But if you’re not careful, your generosity could come back to bite you when you’re ready to retire.

It turns out the majority of parents out there support their adult children financially in some shape or form, according to a new NerdWallet study. The problem? Many can’t afford to be doing so. All told, parents could miss out on a whopping $227,000 by paying their adult kids’ living expenses for five years rather than socking that money away in an IRA or 401(k). And that’s just for a single child. Supporting multiple adult children could easily bring that figure up even higher.

Older parents sitting on a couch with their two adult children


Now it’d be one thing if most Americans were in good financial shape heading into retirement, but that’s far from the case. The average 50-something in the U.S., for example, has roughly $125,000 accumulated in a retirement account, but that’s just the average. The median savings balance for 50-somethings is a mere $8,000, and when you have a scenario where the median is that much lower, it means that more folks have less money than the average than those whose savings surpass that figure.

Clearly, $8,000 is hardly enough to live off, even with Social Security benefits thrown into the mix. And if more parents don’t start tightening up their purse strings and focusing on their own futures, they’re going to land in serious trouble once they’re retired and low on income.

Cutting the cord

It’s one thing to offer your adult children logistical support, whether it’s watching the grandkids to help them save on babysitting fees or even allowing them to live with you until they get on their feet. After all, another body under your roof won’t increase your mortgage payments, and the incremental cost of added electricity and water usage is apt to be minimal at best.

But there’s a difference between offering the type of support we just mentioned and paying your adult children’s bills. And the latter is a practice that many parents continue to uphold, even if it’s hurting them in the process.

So just how much of a hit might your retirement savings take if you support your adult kids for a period of time? Let’s assume that between the ages of 50 and 55, you give your children $15,000 a year to help them get by. That’s an automatic $75,000 decrease in your nest egg, but it doesn’t end there. Because your investments have the potential to grow over time, not adding that money to your savings means you don’t get to capitalize on the power of compounding.

Now, let’s say you’re a fairly strong investor whose portfolio yields an average yearly 8% return up until retirement (with a stock-focused strategy, this is more than doable, since that figure is actually a bit below the market’s average). If you were to contribute $15,000 a year to your savings between 50 and 55, and then invest your $75,000 at that same return without adding a penny more, by age 67, you’d be sitting on an extra $222,000. Therefore, while you might think you’re not missing out on all that much income by supporting your adult children in their time of need, the reality is that you could be jeopardizing your own future without even knowing it.

A better idea? Be generous with emotional support, but keep your financial support to a minimum. There’s nothing wrong with picking up the tab at dinner here and there or slipping your 25-year-old a $20 bill when he comes home to visit. But don’t make the mistake of giving most of your spare cash to your kids rather than saving it. Remember, your children most likely have a number of working years ahead of them, whereas your time left in the workforce is probably limited. While it’s noble to want to do everything you possibly can for your kids, there comes a point when you also need to look out for yourself. And the sooner you realize that, the less you’ll end up putting your retirement at risk.

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Calculate the Cost of Supporting an Adult Child – TwoCents Lifehacker

Photo by Bingham Self Storage

Thanks to a post-recession economy and lagging job market, Millennials inherited the reputation of being the “boomerang generation.” We all move back home with our parents and struggle to make ends meet because we’re too busy buying avocado toast, right? It’s a broad and unfair generalization. Still, boomeranging happens, and if you’re the parent of an adult child (or will be one day), you might wonder how much it’ll cost you.

A recent NerdWallet study looked at the cost of taking care of an adult child in terms of retirement savings. Specifically, they found:

  • On average, parents say the longest period of time they had their adult children living with them is 4.5 years. Almost 3 in 5 parents with kids 18 and older have had adult children living with them for more than a year; over 1 in 5 have had adult children living with them for more than five years.
  • Parents paying college costs could be missing out on almost $80,000 in retirement savings. More than a quarter of parents with adult children are paying or have paid for their children’s tuition or student loans.
  • Almost a quarter of parents saving for retirement expect their children to provide financial support for them after they retire. Millennial parents are nearly twice as likely to say this (44% vs. 25% of Generation X parents and 5% of baby boomer parents).

They also built a calculator to help quantify the cost. You enter in details about how much extra you might spend on groceries, health insurance, or other expenses, and the calculator will tell you how much that would cost in terms of investing for your retirement. You can check it out here.

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1 adult, 2 kids dead in Plano crash have Denison ties – KXII

DALLAS, Tex. (KXII) “I work so hard to protect them,” said Lasanda Moore, mother of the kids.

“Everybody is devastated. This is a tragic loss for everybody,” said their grandmother, Lori Hardin.

This was the scene of the crash that claimed the lives of three people Friday afternoon.

Eighteen-year-old Dennis and 6-year-old Nikyria died at the scene. While 11-year-old Johnathon died at a Plano hospital.

“I tried to save them but I knew my daughter was gone,” said Moor.

“I loved spending as much time with them as I could and I’m going to miss them,” Hardin said.

The family was driving back to Denison on U.S. 75 when Plano police say the driver lost control of the car near Park Blvd., hit a pole and flipped.

Another car was involved in the accident but the driver was not hurt.

The mother of the kids, Lasanda Moore, arrived back to Denison Saturday afternoon with her daughter’s sweatshirt and her son’s binder in hand.

“I got Johnathon’s binder because he’s going to need it for school because he loved school,” Moore said. “I’m not talking like a crazy person because I know they’re gone.”

Police say Moore’s fiancée was driving while she was in the passenger seat.

Lori Hardin is the grandmother of the victims and says two other kids were also in the car.

“My 12-year-old grandson is the one who survived and my step-granddaughter is in the hospital still in pretty bad shape.”

Hardin says the 18-year-old who passed away was a friend, but says he was equally a part of the family.

“Hopefully we’ll find his family if not we will take the responsibility and give him the proper burial he deserves.”

The family asks for prayers and says it’s still hard to believe.

“I don’t know what to think sometimes I think I’m just going crazy.”

Plano police say they are going to continue to investigate further to determine if the driver will face any sort of charges.

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Why This Dermatologist Wants to Fight Adult Cystic Acne Stigma

When most people see a dermatologist, they often assume their doctor will boast a completely clear, blemish-free complexion that gleams similar to that of a supermodel’s. But that’s definitely not the case. Dermatologists are like any other mortal and are subjected to skin issues like acne, despite having access to all the “solutions” available. Sometimes, even the supposed panacea of lotions, potions, and prescriptions aren’t enough to keep breakouts at bay for good.

No one understands the aforementioned issue better than London-based consultant dermatologist, Anjali Mahto, who took to her Instagram this week to share an incredibly powerful message about normalizing the very real fact that sometimes people don’t just “grow out” of their acne. She also aimed to show people that even dermatologists know what it’s like to struggle with their skin and feel self-conscious — that just because their experts in the field, doesn’t make them immune to skin afflictions. Mahto is a prime example, as she’s suffered with acne since she was just 11 years old and is still battling it at 39.

“The hardest thing about having adult cystic acne has been coming to terms with the realisation that I am never going to be ‘cured’ but the best I can ever hope for is ‘control’ of my skin,” she writes, before going into detail about her personal experience, which involves numerous bouts of oral medications, seemingly endless ups and downs, and even acne-free times, too. She explains that while she does have her “good skin” periods, the persistent cysts always return at some point, and that she no longer aspires to be a perfect dermatologist with perfect skin. “Acne gets me down in the same way it affects any adult sufferer, but learning to accept treatment when I need it and enjoying the periods my skin is good has become key for good mental health,” she says.

View on Instagram

And if you’re wondering if she’s tried everything, she has. Topical creams, lasers, chemical peels — you name it, she’s given it a go. But nevertheless, the pesky, not to mention painful, pimples always make their way back. Albeit, she’s learned over time that even when they do, it’s not the end of the world; that there’s something that can be done, and most significantly, that flawless skin by no means determine’s self-worth. “In this world of perceived perfection and social media filters, it is important for people to realise that no one is immune to skin disease — not even a dermatologist that is meant to be treating you!” Mahto tells Allure.

She shares with me that, in the past, she used to get anxiety wondering if her patients would judge her for having acne. “Are they going to think I must be a bad dermatologist because, if I can’t treat my own skin, how am I going to successfully treat anyone else?” she would ask herself. When it comes down to it, Mahto realizes that there will always be people who might think this, but the positive responses she’s received since posting have been overwhelming. “Many say they feel relieved to find a doctor who has been through it themselves and understands what it is really like to suffer,” she says.

The fact of the matter is, acne is not a condition that just affects teens. We know this, though many have a hard time accepting it (hence why Mahto is out to change that.) “I really want people to realise that it is becoming very common to suffer with acne as an adult — it is not just a teenage problem that most people will grow out of — some people do not grow out of it.”

So far, based on the outpouring of positivity since her post, she could be on her way to making some serious leeway, and hopefully helping legions of adult acne sufferers out there while she’s at it. “Self-esteem needs to come from self-love, not from others perception of what constitutes physical beauty,” she adds.

Well, you heard the doctor, folks. Acne or no acne, you’re a beaut.

More on acne:

  1. This Redditor’s Drastic Skin-Care Routine TOTALLY Got Rid of Her Acne Scars
  2. An Anti-Acne Pill Is In Progress From the Makers of Botox
  3. Struggling With Adult Acne — How One Woman Came to Accept Her Skin

Now, watch what makes a cystic acne sufferer beautiful:

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Inside China’s "Happy Town": sex toys and adult-only hotels

This interactive chart shows a sector-by-sector look at the U.S. economy, tracking employment and wages since 2006, just before the crash.

How to read it: The circles indicate industries, sized by their average number of employees over time. From there, the chart is doing two things — tracking jobs and earnings from 2006 to 2017 (the up and down movement of the circles shows the change in number of jobs; left to right is the change in earnings), and projecting forward from 2014 to 2024 (signified by the intensity of the colors of the circles).

Data: Bureau of Labor Statistics; Note: Most growth projections are made at the same level of industry detail shown here. In cases where no growth projection exists, the number shown represents one detail level up; Chart: Chris Canipe / Axios

Go deeper: A snapshot of the jobs malaise

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