That includes one of Ms. Wall’s former clients, who was heading for financial ruin because she had emptied a retirement account to help her daughter fight a custody battle. “I think a lot of times, children don’t realize what they’re doing to their parents’ financial future when they ask for money,” she said.Parents, she added, may not be forthcoming about letting their children know about the potential for harm to their finances. “But if you’re in your late 50s or 60s, unless you’re fabulously wealthy, digging into money you’ve been saving diligently for your own retirement backfires incredibly,” Ms. Wall said. “You’re not going to have ti …
