Many Irish parents in their fifties are still financially supporting adult children—and it's quietly delaying their retirement goals.
Key takeaways: • Each adult child can cost around €15k–€20k per year in ongoing support—rent, car, health cover, and general expenses. • Those costs directly reduce pension contributions and long-term savings, sometimes delaying retirement by years. • Using tools like the McClements Scale shows how each extra person in the home adds significant cost pressure. • Setting clear timelines, gradually stepping back support, and redirecting funds into pensions can rebuild financial freedom fast.
When kids finally stand on their own two feet, your savings—and sanity—get a big lift!
I hope it helps!
Informed Decisions Independent Financial Planning & Money Podcast