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Showing posts from June, 2015

Are Your Kids Delaying Your Retirement and Are You Delaying Their Self-Sufficiency?

It seems that the wealthier you are, the greater your chances of financially helping your adult children. Pew Research Center data compiled in late 2014 revealed that 38% of American parents had given financial assistance to their grown children in the past 12 months, including 73% of higher-income parents. 1      The latest Bank of America/USA Today Better Money Habits Millennial Report shows that 22% of 30- to 34-year-olds get financial help from their moms and dads. Twenty percent of married or cohabiting millennials receive such help as well. 2    Do these households feel burdened? According to the Pew survey, the answer is no. 89% of parents who had helped their grown children financially said it was emotionally rewarding to do so. Just 30% said it was stressful. 1   Other surveys paint a different picture.    Earlier this year, the financial research firm Hearts & Wallets presented a poll of 5,500 U.S. households headed by baby boomers. The major finding: boo