Reported 4 months ago
A Bankrate survey reveals that 61% of parents with adult children are sacrificing financially to assist their kids, with Gen X parents more likely at 69% compared to 56% of baby boomer parents. The financial support includes paying bills, helping with big purchases, and providing rent-free accommodations. More than 1 in 4 adults over 23 receive financial aid from parents, especially for housing. Parents are sacrificing their own financial future, with 43% sacrificing emergency savings and 41% paying off debt to support their adult children.
Source: YAHOO