Many people get stuck paying their kids’ bills long after the kids are grown and moved out of the house.  Often, it’s to the tune of hundreds, if not thousands of dollars each month.  Even commitments you initially made because you love your kids and want to help them can begin to feel like a burden with no end in sight.  It's time to get your grown kids off your payroll.

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The unwanted obligation can cause financial tension, strained relationships with your children, and even marital strife.  It sucks up your cash flow, limiting your ability to create your financial freedom.  And, it handicaps your kids, preventing their financial savvy you may have been trying to develop in the first place.

According to USA Today article, How to Wean Grown Kids Off Your Payroll, Freeing Up More Retirement Cash, by Adam Shell, having adult kids on your payroll is way more common than you’d think.

In fact,

Just because your kids have moved out of the house doesn’t mean they’re out of your financial life. Six out of 10 (61 percent) parents with at least one adult child over 18 said they provided them financial help, according to a Pew Research Center survey.

-Adam Shell, How to Wean Grown Kids Off Your Payroll, Freeing Up More Retirement Cash

Table of contentsHow to Draw the Line in the Sand and Get Your Kids Off Your PayrollWhere Weaning Your Grown Kids Off Your Payroll Fits in the Cash Flow SystemWhy It Becomes Necessary to Wean Your Grown Kids Off Your Payroll in the First PlaceThe Complexity of Financial DecisionsReasons We Keep Paying Kid’s ExpensesThe Outcomes We WantBefore It’s a Problem: Setting Up Your Kids for Financial Independence Ahead of TimeFinancial EducationTeach Kids How to Make MoneyTeach Cash Flow ManagementCreate Shared Family Decisions and ValuesPre-Determine Your Transition Point and Communicate About it EarlyWhen Should You Transition Your Kids Off Your Payroll?Which Bills?After the Problem Already Exists: How to Correct Unhealthy PatternsThe Right Time to Kick Your Kids Off Your PayrollDon’t Put it OffHave Candid ConversationsYour NeedsThe FactsAction Plan to Get Your Kids Off Your PayrollA Few Points we DivergeThe End Goal: Retirement vs. Financial FreedomLife Insurance as a Legacy Transfer and Family BankPass on a Legacy of Wisdom, Not Just MoneyPlan Now to Wean Your Kids Off Your PayrollBook a Call to Find Out Your Next Step to Time and Money Freedom

How to Draw the Line in the Sand and Get Your Kids Off Your Payroll

So how do you draw a line in the sand? How do you break free and get your life back without damaging the relationship?  More importantly, how do you prevent the overextended welcome and accompanying resentment from becoming a problem in the first place?

If you’re a new or young parent, this conversation will help you think differently to create successful, self-sustaining kids. 

If you’re finding yourself in the position of still paying bills for your kids today, even though you’re an empty nester, you’ll get great tips to cut the cord and transition your kids off your payroll.

Our review of this article, along with our personal experience and client conversations will help you unravel this delicate challenge.  It will pave the way to healthier communication, stronger family relationships, and greater financial confidence.

Where Weaning Your Grown Kids Off Your Payroll Fits in the Cash Flow System

We’ve put together the Business Owner’s Cash Flow System to help you through all three steps of achieving a life of significance as you create financial freedom.  First, you build a foundation to help you keep more of the money you make. Then you protect your money. Finally, you get it working for you to increase your cash flow from assets.

So where do your financial decisions about your kids fit into the big picture?

Transitioning your kids off your payroll is a complex topic that connects to multiple parts ...