Monday’s need-to-know money news

Today’s top story: How to prepare for the next recession. Also in the news: How to grow your tax refund, everything you need to know to file your 2018 taxes, and how to wean grown kids off of your payroll.

There’s Always a Next Recession, so Be Prepared
Soften the blow of the next economic downturn.

If You’re Expecting a Tax Refund, Make a Plan to Grow It
Invest your refund instead of blowing it.

Everything You Need to Know to File Your 2018 Taxes
A handy list.

How to wean grown kids off your payroll, freeing up more retirement cash
Cutting the purse strings.

When your kid is a financial train wreck

Financial planners and credit counselors see plenty of examples. The grown son who lost a job, moved home and stopped looking for work. The daughter who constantly mismanaged her checking account — and turned to payday lenders when parents stopped covering her overdrafts. The father working into his 70s to support spendthrift children in their 40s and 50s.

Kristi Sullivan, a certified financial planner in Denver, once worked with an elderly couple whose offspring constantly turned to them for help.

“The clients couldn’t understand why their grandchildren had all the latest iPads and phones, but when a car or home repair came up, their adult children always had to ask them for money,” Sullivan said.

In my latest for the Associated Press, how to set boundaries to protect your own finances and help your kids in an emergency.