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Boomer Moms Still Supporting Adult Children
Posted By Alejandra Owens On April 18, 2011 @ 6:20 pm In Notebook | No Comments
Last week, The Kitchens Group, a public opinion research firm in Orlando, FL, released new data about Boomer women and their adult children.
Reuters reported some of the findings including these choice nuggets:
More than half of Baby Boom-generation mothers support adult children financially and 60 percent are the go-to person when their grown kids encounter problems…
Eighty percent of the women said it was “very accurate” to describe themselves as reliable and dependable, a much stronger response than other self-described characteristics — including “spontaneous and flexible,” or “playful and fun” — received.
Of women with children over age 18, nine percent said they had adult children living back home for indefinite periods. Twelve percent were primarily responsible for their adult child or children’s financial well-being and 31 percent said they had children who returned home, relied on them but expected to become independent.
These stats didn’t surprise us much here at AARP. Our own member surveys have shown that 69% of AARP members are providing some level of financial support to their adult-age children.
But what’s a gal to do? I’ve rounded up some of our best articles on the subject including tips for families and resources for kids to get their financial lives in order and prospering.
It’s good to know that if you’re in this situation, you’re not alone. But it’s important to remember: don’t let this derail your financial or retirement goals. This could be a phenomenal opportunity for your whole family to learn and grow.
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