Skip Nav

Supporting Parents Financially

Should Successful People Financially Support Their Parents?

We were all touched when YouTube star Michelle Phan told us she has achieved her dream of making enough money so her mom doesn't have to work. Although it worked out well for them, this arrangement doesn't always have a happy ending. Sometimes, financially supporting your parents (especially when you're a huge success) can cause a lot of complications.

Leighton Meester's messy money problems with her mom recently came to light, when she accused her mother of using money meant for Leighton's brother's medical bills on plastic surgery and Botox. The Gossip Girl actress had been sending her mother $7,500 a month to cover her brother's medical care. Frustrated with the situation, Leighton decided to sue her mother for custody of her brother. However, her mom says she will sue Leighton for $3 million unless the actress agrees to provide her with $10,000 a month.

It's definitely a really noble gesture, but I can see how the situation can get ugly. I guess it's a risk people have to take when choosing to help their parents out with money issues. What do you think — should people support mom and dad if they can afford it?

Image Source: Getty
Latest Money & Career