- Retirement is a time to make your money last and live frugally.
- But, many also have to balance this with the sense of responsibility they feel for their children and grandchildren.
- Signs that you can't afford to spoil your grandkids include: going through your retirement savings too quickly, having a negative cashflow, or even struggling to pay the bills.
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For many retirees, it can be tough - emotionally and financially - to balance your own retirement income with the desire to give to and support your grandchildren financially. But jeopardizing your own retirement to give to your grandchildren isn't worth it.
There are a few things retirees will notice if they're spending too liberally on their grandkids. From having a negative cashflow to not being able to pay the bills, a financial planner says that there are several signs that you're spending too much on your grandkids in retirement.