03.21.25 Clark Answers His Critics on Clark Stinks / Adult Children And Finances

Summary

The Clark Howard Podcast: Episode Summary – "Clark Answers His Critics on Clark Stinks / Adult Children And Finances"

Release Date: March 21, 2025
Host: Clark Howard
Episode Title: Clark Answers His Critics on Clark Stinks / Adult Children And Finances

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Introduction

In this episode of The Clark Howard Podcast, host Clark Howard delves into two significant topics: addressing listener criticisms in the "Clark Stinks" segment and exploring the complexities of financially supporting adult children. Balancing between defending his advice and acknowledging valid critiques, Clark provides insightful perspectives aimed at empowering listeners to make informed financial decisions.

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Clark Stinks: Addressing Listener Criticisms

Clark opens the episode with the "Clark Stinks" segment, where he confronts various criticisms from his audience. This segment serves as a platform for transparency and growth, allowing Clark to refine his advice based on listener feedback.

1. Health Plans and Religious-Based Pools ([02:26] Listener David):

   • David criticizes Clark's stance on health plans, highlighting the effectiveness of faith-based health sharing groups.
   • Clark's Response: "Let me explain what a faith-based religious pool is... It's an alternative. It is not the same as regular health insurance."

2. Nonprofit Board Members' Liability ([04:19] Listener Gary):

   • Gary, a retired CPA, points out that nonprofit board members are personally liable for unpaid payroll taxes.
   • Clark's Clarification: "With a lot of nonprofit organizations to protect board members, the nonprofit obtains an insurance policy to protect officers and directors."

3. Phone Usage During Meals ([05:15] Listener Rick):

   • Rick questions the relevance of Clark's advice on using phones while eating to the show's financial focus.
   • Clark's Admission: "Rick, Guilty as charged... You're right."

4. Taxes Rhetoric ([05:56] Listener Nancy):

   • Nancy criticizes Clark's negative rhetoric on taxes, emphasizing their role in funding public services.
   • Clark's Defense: "We should only spend what we bring in in tax dollars... What we're doing right now is not sustainable."

5. Gig Economy Insurance Concerns ([07:33] Listener Mike):

   • Mike raises concerns about auto insurance coverage for gig workers using apps like Instacart.
   • Clark's Insight: "You can buy an app add-on from your insurer that covers you when you're doing activities delivering for an app."

6. Tipping Housekeepers ([11:06] Listener Jim):

   • Jim highlights the importance of tipping housekeeping staff on cruise ships and hotels.
   • Clark's Acknowledgment: "That's my bad that I didn't mention on cruise ships that I tip the cabin attendant always in cash."

7. Venture X Card Restrictions ([12:30] Listener Susan):

   • Susan expresses frustration over the Venture X card's travel credit restrictions.
   • Clark's Suggestion: "If you book through the Capital One Travel portal... I don't think that alone is a reason to dump the Venture X card."

8. Timeshare Advice ([13:30] Listener John):

   • John vehemently disagrees with Clark's previous advice on purchasing timeshares.
   • Clark's Response: "Never, never, never, not ever buy a timeshare... There are people who love them, have experienced them over the years, and want more and want a bargain."

Notable Quote:

"Which is why I look forward to it so much. Because I don't want to be stuck in a rut. I want to get steadily better, if I can at what I do." — Clark Howard ([14:09])

This quote encapsulates Clark's commitment to continuous improvement through listener feedback.

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Main Topic: Supporting Adult Children Financially ([18:01] Clark Howard)

Transitioning from criticisms, Clark addresses a prevalent issue many parents face: providing financial support to adult children. He emphasizes the delicate balance between helping loved ones and safeguarding one's financial future.

Key Points:

1. Prevalence of Financial Support:

   • Nearly one-third to 40% of parents are financially supporting their adult children.
   • This support is common among parents in their 50s or nearing retirement.

2. When It's Beneficial:

   • If parents are financially stable and on track for retirement, providing assistance can be positive.
   • Tax Implications: Parents can gift up to $19,000 annually to a child without tax consequences for either party.

3. Potential Risks:

   • Financial support becomes problematic if it hampers the parents' ability to save for retirement.
   • Risk of enabling irresponsible spending, e.g., parents sacrificing for a child who misallocates funds.

4. Emotional vs. Financial Well-being:

   • While the emotional desire to help is strong, parents must prioritize their financial health to avoid long-term consequences.

Notable Quote:

"When giving that money is not fine for your own financial health, that's when you really got to think this through as a parent." — Clark Howard ([19:00])

Clark underscores the importance of self-preservation to ensure genuine, sustainable support for children.

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Listener Questions and Clark's Advice

Beyond the main topics, the episode features several listener questions, allowing Clark to dispense personalized financial and health advice.

1. Budgeting for a Young Adult ([21:56] Listener Megan):

   • Megan seeks guidance on helping her daughter improve budgeting and financial habits without reintroducing credit card debt.
   • Clark's Advice: Advocates for maintaining a debt-free lifestyle using a debit card, establishing a payment plan for repayments, and utilizing budgeting tools to track expenditures.

2. Promoting Long-Term Health ([24:43] Listener Sean):

   • Sean inquires about general health tips beyond exercise.
   • Clark's Recommendations: Emphasizes the importance of a balanced diet and a consistent sleep schedule. Shares personal experience with improving sleep quality using the Oura health ring.

3. Teaching Financial Responsibility to Children ([27:12] Listener Elizabeth):

   • Elizabeth discusses her young son's efforts in saving money from recycling and seeks advice on managing his savings and introducing him to a 529 plan.
   • Clark's Solution: Suggests a 50/50 split between a custodial savings account and a 529 college savings plan, fostering early financial literacy and responsibility.

Notable Quote:

"It's all about her in a situation like hers... to use a budget... having the discipline and more control." — Clark Howard ([22:50])

Clark highlights the fundamental role of budgeting in gaining financial control and fostering healthy financial habits.

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Conclusion

In this episode, Clark Howard adeptly balances addressing his critics with offering valuable financial guidance. By engaging openly with listener feedback, he reinforces his commitment to providing accurate and practical advice. The discussion on supporting adult children serves as a critical reminder for parents to prioritize their financial well-being while extending help to their grown children.

Through listener interactions and thoughtful analysis, Clark continues to empower his audience to make informed decisions, uphold financial stability, and navigate personal finances with confidence.

Final Thoughts:

Clark emphasizes the importance of continuous learning and adaptation, both for himself and his listeners. He invites ongoing feedback, demonstrating a dedication to evolving and delivering pertinent financial wisdom.

Closing Quote:

"But I have. And maybe now we're going to hear from people that two limited service five in fancy hotels is not enough per night either." — Clark Howard ([11:31])

Reflecting on his growth, Clark acknowledges past oversights and commits to enhancing his advice based on listener input, fostering a community of shared knowledge and improvement.

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Join the Conversation:

Listeners are encouraged to submit their questions and participate in future episodes through www.clark.com/askclark and engage with Clark and his team at clark.com and ClarkDeals.com to continue the mission of saving more, spending less, and avoiding financial pitfalls.

Transcript

[Ann]

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[Clark Howard]

It's my pleasure to welcome you here to the Clark Howard Show. You know our mission is to serve you with advice and information that empowers you so you make better financial decisions in your life. And Happy Friday. You know what that means. It's time for the weekend. But before we get to that, I get to hear your beef with me in our weekly Clark Stink segment. Also today, giving money to kids when they're adults is tricky and can be ultimately brutal to your own life. When should you. How should you give money to your adult children that doesn't conspire against you and is actually a smart thing to do. We're gonna talk about that. But right now it's time to talk about where I let you down. I should have never encouraged you to speak. You almost think I'm pretty stupid. You should be ashamed of yourself. Well, maybe I'm wrong.

[Ann]

Maybe I'm wrong.

[Clark Howard]

Maybe you're right, pal.

[Listener]

Clark, you stink worse than Limburger cheese on a hot July day in South Louisian.

[Clark Howard]

What is Lemberger cheese? You know, this is the second time somebody started a Clark Stinks.

[Listener]

Definitely some smelly cheese. To dismiss all non qualifying health plans is bogus due to some covering only superficial small services is uninformed. At least three Christian based health sharing groups have more than stood the test of time and offer unlimited coverage for a reasonable price and they list the three. They are run the way insurance should be run and encourage us to price compare for services and to plan for anticipated services such as colonoscopies. David.

[Clark Howard]

David, thank you very much. So let me explain what a faith based religious pool is. An organization can be Christian or any other religion can offer a health plan with the separation of church and state that does not meet normal underwriting requirements and their risk pools. So if Krista and I were in a risk pool, we would each be putting in money each month. That's the equivalent of kind of like a premium, but it will be a tiny, tiny fraction of what traditional health insurance would cost. And the idea of the pool is the operators of the pool decide what kind of things are covered and by not having normal underwriting means that if you got unlucky in the pool and too many people in the pool had chronic or serious illness, like a very expensive cancer to treat or whatever, the pool might go and solve it. So it is an alternative. It is not the same as regular health insurance. And some religious based risk pools have stood the test of time, unfortunately. Others have gone insolvent and left people with unpaid bills.

[Listener]

As a retired cpa, I believe you may have missed an important fact when responding to the new board member of a charity that had not paid some payroll taxes. My understanding, which I had to explain occasionally over the last 50 years, is that board members are personally liable for those taxes. Maybe I'm wrong, but if not, you missed the mark. Thanks for all you do to improve financial literacy, Gary.

[Clark Howard]

Gary, thank you. It is a may not a will be responsible. And that's why with a lot of nonprofit organizations to protect board members, the nonprofit obtains an insurance policy to protect officers and directors of the organization. And it is commonplace in any significantly sized charity that people serving on the board are covered by officers and directors kind of coverage.

[Listener]

Sorry, Clark, but I have to ask. What does your lecture on using your phone while eating meals have to do with advice and information that empowers you to make better financial decisions in your life or how to save more, spend less and avoid getting ripped off. I do agree with everything you said in the segment, but it sure seemed out of place for your mission. Rick.

[Clark Howard]

Rick, Guilty as charged. I just feel like people are missing so much enjoyment with each other when you look and they're all on their phones. And I ask you, when you're at a meal, see how many people are on their phones? Does it have anything to do with what I'm supposed to be talking about? Not at all. You're right.

[Listener]

Unfortunately, you smell like King Charles English country garden right after the sheep manure fertilizer is applied. Each year around tax time, you start segments with groans about paying taxes. Yet throughout the year you tell us tax increases are needed and they are. I approve of good roads and educated citizens and public health and safety and clean air and water and so many other things our taxes pay for here and abroad. My career army husband is 100% disabled and in a VA memory care residence with stellar hard working staff paid for by our taxes and yours. So aren't taxes the price we pay for good things about America? Yes, there's government waste, but having worked with both civil service and corporations, I suggest the waste is greater in corporate environments. So please Clark, maybe soft pedal the ugh taxes rhetoric. And thanks for all the help that you, Krista and your team have provided my husband and me on our personal finances over the decades. Nancy in and for the usa.

[Clark Howard]

Nancy, thank you very much. And as I've expressed prior, I think that we should only spend what we bring in in tax dollars. If people want more services from the government, we need to pay for them. They want less services from the government instead of paying more tax, that's fine too. But what we're doing right now is not sustainable. We are running these huge budget deficits making us a debtor nation and no great power has ever survived being great when it runs huge deficits that we have to service and pay for.

[Listener]

And I'm glad to hear that your husband thank him for his services. Being well cared for at the VA is that great. Don't always hear great reports about that, so that's good. Over the course of the last couple of months, Clark has spoken of potential financial gains by working part time for Uber, uber eats, instacart, etc. I thought it would be interesting to try working for one of these apps. I signed up for Instacart and worked for about a week. I did enjoy the tasks even while figuring out that when car expenses were figured in it was making minimum dollars. While watching a YouTube video on delivering for Instacart, I was shocked to learn that most personal auto insurance would not cover me while engaged in commercial activities. Sure enough, my auto policy excludes commercial activities. I was stunned to learn I drove multiple days without insurance. I believe Uber offers some auto insurance while driving, but Instacart definitely does not. Maybe I've missed it, but I've not heard Clark address the situation. I also checked out commercial auto insurance, but that's not financially viable. I think Clark should address the above or other listeners may be driving around uninsured Mike and then I'm going to read a second one too, which is about gig work and I can answer.

[Clark Howard]

The insurance thing first. Yeah, okay. This is something we have addressed from time to time on the podcast that today your auto insurers you checked your policy doesn't cover the activity you were doing with Instacart so it varies from insurer to insurer. None cover you that I'm aware of automatically for Uber and Lyft driving people in your vehicle. Many will allow you to deliver, you know, with one of the food apps and not treat it as an activity that you've invalidated. Your insurance just depends on your insurer, but it's pretty universal now that you can buy an app add on from your insurer that covers you when you're doing activities delivering for an app. It's more expensive when you're driving people around. But yes, you're right, you do need to cover that type of activity or your insurer may choose to say hey, you were doing this, that or the other. You're not covered.

[Listener]

I remember you mentioned gig work and a lot has changed in this space. I've moved away from traditional gig apps like UberEats, DoorDash and Amazon Flex. While Amazon Flex and Walmart Spark are well known, many don't realize that Shipt is owned by Target and offers deliveries from retailers like Target, Best Buy, Costco, Sam's Club and more. Now I'm driving a Sprinter van, delivering loads from airports and businesses to various destinations in my region. It's a shift from gig work, but the pay and consistency make it worth it. More people are also moving into medical courier work as pay can be better. Companies like Airspace, USPAC Capstone, MedZoomer and Roadie owned by UPS are key players in this space. For those looking for contracts, specialized sites like courier gigs.com and CBD driver list job opportunities. Craigslist is another good resource. Under the Job section and then transport you can find contracts for cars, minivans and cargo vans. Oh and get this, some people are delivering sheen orders out of their car or minivan for just $2 per package. Totally not worth it when you consider the time, gas and wear and tear on the vehicle.

[Clark Howard]

J. Jay does she and give you free clothing in return with each delivery you do. Thank you so much for that post and that's very helpful to people that are looking for side income. You've obviously done your research, done a lot of work in it, and I really appreciate the suggestions you gave.

[Listener]

In a recent episode, Clark talked about the option of tipping bartenders and servers with cash on a cruise ship. But Clark forgot about the hard working housekeeping staff, whether in a hotel or on a cruise. Housekeepers really appreciate tips too and will often do whatever they can to further step up service for customers who do tip. Just make sure to leave the tip in a prominent location in the room and always leave a brief thank you note making it clear that the money is intended for them.

[Clark Howard]

Jim Jim, thank you very much. And that was a that was my bad that I didn't mention on cruise ships that I tip the cabin attendant always in cash. And I do leave a nightly tip in a hotel room and if it's a small limited service hotel I leave $2. If it's a big nice hotel room I leave $5 because it takes them so much longer to clean it in the hotel room. And that's because I had mentioned offhand on a podcast like two years ago that I leave a dollar in hotel rooms that people should. And then I got pretty slam saying, you cheap guy, a dollar is not enough that I needed to step it up. And so I have. And maybe now we're going to hear from people that two limited service five in fancy hotels is not enough per night either.

[Listener]

You don't really stink, but I thought you should mention that the Venture X card no longer just applies the $300 travel credit. You now have to use it by booking through their website. And I think that does stink. I don't like to feel trapped into booking through a particular place to get a credit. We will be dropping this card before our year is up.

[Clark Howard]

Susan Susan, May I suggest that if you book through the Capital One Travel portal, an airline ticket and use up the $300, the odds are overwhelming that the ticket will be the same exact price through the Capital One booking tool as it is elsewhere Capital One hotels, I found that many times they are more expensive than booking them somewhere else. I've not found that problem with air flights to use the 300 credit, so I don't think that that alone is a reason to dump the Venture X card.

[Listener]

Your show is fantastic and normally you don't stink. However, when you were explaining when it would be okay to buy a timeshare, I immediately had an image of Baby Clark curling his upper lip and dropping a stinker in his diaper. You should never, never not ever buy a timeshare. They are defective. As you have often mentioned, I personally lost over $7,000 over 10 years for a timeshare I inherited and couldn't use due to a seasonal and location restrictions until I was finally able to sell it. Using your advice, timeshares are like a game of hot potato. You don't want to be the one left holding it. It is never good advice to buy a timeshare, even if someone pays you to take it. John.

[Clark Howard]

John, thank you. Okay, so why would I even ever say as much as I say never, Never, never, not ever buy a timeshare? There are people who love them, have experienced them over the years and want more and want a bargain. So I got to tell them that people will pay them to take over their timeshare. Would I take a timeshare that somebody paid me to take over? Never, never, never, not ever. And thank you everyone who takes the time to post on Clark Stinks. I appreciate it so much because it's how I learn, it's how I grow, it's how I give you better advice. And then you in turn, many cases give amplified advice where I was incomplete or whatever and give better advice than I did. And I appreciate it so very much every single time. Which is why I look forward to it so much. Because I don't want to be stuck in a Ruth. I want to get steadily better, if I can at what I do. Coming up ahead, I want to talk about a conundrum going on. So many parents are giving money to their adult children. Sometimes it harm to themselves, sometimes not. We gotta talk about that.

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[Ann]

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[Clark Howard]

Survey says that nearly half of of adults are supporting their adult children financially. Different surveys find different numbers. You know, a third, 40%, half, whatever. So let's say, let's keep it simple. Somewhere between a third and 40% of parents are supporting their adult children. And it's very, very common with parents in their 50s or approaching retirement are giving big financial support to adult children. That can be okay, and that can be a disaster. Because if you yourself as a parent can't put aside enough money for your own retirement, then what's going to happen? You're going to keep working and your kids are going to say, gosh, wish mom and dad had saved more money so they wouldn't still be working at this point. Clueless kids at any age are clueless about what their parents have done for them. So this is a thing because it's expensive for kids to establish themselves in life. But you got to think through when doing something from your heart is too harmful to your life. So let's say you're doing great financially. You're on a glide path for retirement. Nothing to worry about. You want to help an adult child? Fine. You know, you can give them 19,000 a year without any implications at all tax wise for the giver or recipient. In fact, any human in the United States can give any other human 19,000. Oh, thanks Krista. No. Anyway, anybody can give up to 19,000 and it's no harm, no foul. It's just money you give somebody. Government doesn't care you're good. And so giving kids money as adult kids now instead of when you die, if you can afford to do so, is a great thing. Nobody's going to be able to stop working because you gave them an amount up to $19,000. But you might be able to help them improve their lives or save for retirement where they're not right now because they're so stretched in their financial lives. Fine. But when giving that money is not fine for your own financial health, that's when you really got to think this through as a parent. And parents do this all the time. They harm themselves financially to help their kids. And a lot of times you're not happy what your kids are spending their money on that you may think they're squandering it on this or that. How about you sacrifice to give money to your kid and you're driving an old beater car and your kid who claims poverty and gets money from you goes out and buys a brand new car. Let me tell you, that happens. So I want you to really think before you act because emotionally we want the best for our kids. But sometimes when you're trying to do best for your kids, you do self harm, at least financially. Don't do more than you should based on your own financial health. Period. I just keep hearing this Krista. I mean why? Why do you hear such passion for me? Because I keep hearing about people who can't retire because they kept giving, giving, giving, giving to their kids who appreciate it less than you might think.

[Listener]

Let's go to some questions here. This one's from a mom, Megan, Ohio. My daughter is attempting to get better at budgeting and finances as a whole. She's used to spending and not paying attention to how much is going out from what she brings in. She had credit cards that I just paid off so she can pay me back without interest and get a fresh start. She has put away the cards and is only using her debit card. She's about to put $500 she received from family in a Fidelity account, a Roth IRA and can contribute and be matched 3% with a 401k through work. What advice do you have for her to start paying attention to her finances and pay herself and bills first, then work with what's left over. As you know, personal finance was a bust in school. She has been out of college a while but she's not yet 30. Also the debit card as you've said, is not as good as the credit card for safety and credit score reasons. But we don't want her to get into that hole again.

[Clark Howard]

Yeah, I think the debit card is not a good product because of the lack of consumer protections. But in a case like your daughter, it's the right product and she can't get herself into trouble into more debt with it. What you don't say is is she on a payment plan with you to pay back or it's just intentional that at some point she's going to pay you back without interest. I think she needs to budget and be in the habit right now of starting to pay you back for the money that you took out of your hard earned savings and paid off the credit card balances so that she is then in a pattern of living on less than what she makes. You know, she contributes the small amount to the 401k to pick up the employer. 3% match good. But you asked me what should she be about? It's all about her in a situation like hers at near 30 years old, doing something people look at as confining but is actually liberating. And that's to use a budget. And we've got a guide to various budget apps and [e-mail] she needs to face every month where her money's going and use that as a way of building up the concept of these are the must pays, these are the want to haves and think about money and priority so she is more in control of where every dollar goes. If you don't see it when you've had a problem with spending, you don't see where that money's going. It's harder to have the discipline and more control.

[Listener]

This is from Sean in Iowa. I'm in my 30s and have young children. I have ignored the need to prioritize my long term health but it has recently become a big priority of mine. I exercise regularly and eat somewhat well. I recently had my annual physical and asked for extra critiquing from my doctor. But I would also wanted to ask you what are some of the general tips you would recommend to promote long term health outside of exercise? Thank you so much for everything you do. I'm in the financial services industry and recommend your podcast to clients almost daily. The world needs more Clark Howard's in it. I agree.

[Clark Howard]

Sean, that is so kind of you to say. And let me say to you about your health. You're already doing what studies show is the most important thing and that is exercising regularly. You say you eat somewhat well. Let me tell you the truth. Until the last few years I ate the worst of Anybody you'd ever seen. I mean, think of a prototypical teenage boy and how badly they eat. Here I am, I'm a teenage boy with how I eat. And as in my case, what happened was the failure of my aortic valve in my heart was what put me on a new path to eating. And everybody around me in my family particularly is shocked at how differently I eat now and how I pay attention to it. So what you eat is really, really important. But I'd say there's a third factor as well and that's having a consistent good sleep pattern. When you look at what will cause your health to deteriorate over time, having irregular sleep patterns and not getting enough sleep at night is something that will really cost you.

[Listener]

Yeah. And having young kids, that can be.

[Clark Howard]

Tough, but having young kids is hard. But you know, one of the things I wear this aura health ring and I've had it on five years plus now and it has changed my sleep like nothing else has. I sleep so much better than I used to. My aura being the meanest nag ever. My sleep has dramatically improved.

[Listener]

So the aura doesn't make you sleep better, but it gives you tips.

[Clark Howard]

Yeah. It doesn't give you magic. Yeah, it is magic.

[Listener]

Okay.

[Clark Howard]

O U R A ring is what it's called.

[Listener]

Elizabeth in Connecticut says, my son is 3 years old and I've been collecting and returning cans and bottles for the 10 cent refund my son helps.

[Clark Howard]

10 cents? What state pays 10 cents?

[Listener]

You said she's in Connecticut.

[Clark Howard]

Oh my goodness. 10 cents a can or bottle. My new part time job for me, I'm moving to the tri state area. They go to Connecticut. This is great. You think I'm kidding?

[Listener]

My son helps me put them into the machine and I, I let him have the money which we put in his piggy bank. Would it be best to deposit this money into his 529 account? Also, what is the best age for him to have a savings account of his own? And what funds do you think are most appropriate to go into savings versus his 529?

[Clark Howard]

I love it that you've got your 3 year old working already. That's a wonderful thing. And yes, I think it would be great to put the money split 5050, half of it in a custodial savings account with one of the online banks. And when he's old enough to really get the concept, you show him the money that, that he saved and what it's grown to and the other half and the 529, I think putting it all in the 529, obviously, is a practical great answer. But a kid seeing the value of work, the benefit of work, the benefit of savings when it's age appropriate, I love it. And 10 cents a can or bottle. Wow. You know when they used to have those carts at airports that you got 50 cents to return them? And most business travelers, they don't care. It's corporate money. We just leave them by their car and drive off. When I had a time, I would collect them, return them and get the money 50 cents a pop. And they don't do that anymore. I hate that. But anyway, earn every penny, save every penny. And thank you so much for joining us. I hope you have an absolutely wonderful weekend in front of you. I appreciate so much having you here, contributing to our show, being a part of Team Clark. And this weekend, when you need information, when you need answer to a question about your wallet, give us a shot at giving you that booster shot you need for your [e-mail] or clarkdeals.com and know what we're all about is you learning ways to save more, spend less and avoid getting ripped off. See you Monday.