economy-family3.225 min read "Study Reveals Nearly Half of US Parents Financially Supporting Adult Children"
A study by Savings.com reveals that nearly 50% of US parents financially support their adult children, who are facing higher living costs and struggling to benefit from the country's economic recovery. Parents are providing assistance for expenses such as groceries, rent, and health insurance, with Gen Z adults receiving the most support. However, this support could compromise parents' retirement savings, as they contribute more to their adult children than to their own retirement accounts. Rising food and housing costs, along with high student loan debt and lower wages for younger generations, contribute to the economic challenges faced by both parents and adult children.
2 years ago•Source: The Guardian US
