Millennials Financially Supporting Boomer Parents
A turnaround is starting with the roles of Millennials and their Baby Boomer parents in who is supporting whom. More and more Baby Boomer retirees are finding that they can’t reasonably support themselves in retirement and their Millennial children are stepping in to help out. About 19% of Millennials find themselves in this situation with their aging parents, and this is hurting their own ability to save for retirement. It may also cause a cascading affect involving them and their own children down the line. For more information visit this article by Kelli B. Grant with CNBC.
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