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Supporting Grown Kids Delays Boomers’ Retirement
Could supporting your grown kids force you to delay your retirement? Quite possibly, according to a recent study of boomers by Hearts & Wallets, one of my favorite financial research firms. In a report based on its annual survey of 5,500 households, Dissecting the Baby Boomers: How a Parental and Financial Status SegmentationReveals Key Differences in Finances, Attitudes and Behaviors, (the title sounds like a biology experiment, if boomers were frogs), Hearts & Wallets found that boomers with adult children who they don’t support financially are about 2 ½ times more likely to be retired than those with adult kids who they do support. Read more…
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