This week I came across a post on Dependent Adult Children on Instagram by Nimi Akinkugbe. This post gathers a lot of attention but I think it still needs to get more. Moreover, I think its as a result of the way our economy is being run by our leaders that make some of the youth unemployed and then they become a burden to their parents.
In a nutshell, Nimi Akinkugbe is the Founder and Chief Executive Officer of Bestman Games Ltd, the African distributor of customized editions of Monopoly, Hasbro’s world-famous game. Prior to this, she enjoyed a successful banking career spanning 23 years first at Stanbic IBTC Bank Plc where she rose to the position of General Manager and Head, Private Banking and Director Stanbic IBTC Asset Management Ltd. Subsequently, she joined Barclays Bank Plc as Regional Director (West Africa) for the Wealth & Investment Management Division and Chief Country Officer for Nigeria.
Achieving financial security ranks as a major source of anxiety and Nimi seeks to empower people regarding their finances. Under the auspices of the brand “Money Matters with Nimi,” through speaking engagements, television and radio appearances and social media, the Monopoly Board Games and her new book, “A – Z of Personal Finance”, Nimi provides frank, practical insights to create a greater awareness and understanding of personal finance and wealth management issues. Through these platforms, she has been able to empower people to take responsibility for this most important aspect of their lives.
In her post, she discussed some insights on “dependent adult child” and I think you my readers can learn from it;
Many parents in their 50s and overexpress serious concern about dependent adult children. “The Boomerang Generation,” refers to the phenomenon of our youth returning to live at home after graduation. It is imperative that government makes affordable housing a priority for our youth.
Being totally dependent on parents cannot prepare you for independence. By all means leverage on whatever assistance your parents can give you, but don’t get lulled into a false sense of financial security as you are not paying #rent, #utilitybills, subscriptions etc.
Your parents do you a huge disservice by keeping you dependent. Tied to the purse strings, you may struggle to build a life away from their largesse. It might be difficult to adjust initially, but bear in mind that some of the most successful people in the world were not cuckooed by generous parents; they grew wings to fly by necessity.
If you are a parent in this situation, encourage your young adults to contribute towards some of the bills and to save. They might consider moving out and pooling resources to share with friends. In some societies, young adult “returnees” rent their bedroom!
Avoid having dependent adults in your retirement years. The education you provided comes to nothing if you have not equipped your children with wings to fly.
In conclusion, I think we can all agree to a point that the youths need to start being independent irrespective of the circumstances in our economy which i think I support. And one reason I do is that of the sheer number of youth especially Nigerians who have literarily nothing but they keep doing their best to search for an opportunity which they eventually get because of their doggedness and attitude towards life. And I have been privileged in attending a seminar where I have heard her speak and this has greatly transformed my finances. So I think even if youths don’t have jobs or experience they should learn to work even for free or little salary to gain experience because no company is ready to start training you all from scratch. They (companies) need you to have something to offer them then they can contribute by building and investing in you.
If need any help on improving your finances or need investment advice you can reach her on the website moneymatterswithnimi.
PS: This is not a sponsored post