Study: Boomers Give Up Savings to Help Parents, Kids

Baby boomers are selfless? Apparently many are, according to a new study by Ameriprise Financial. The financial group’s recent study, Money Across Generations, polls three generations: affluent baby boomers (with $100,000 or more in investable assets) along with both the parents and the children (over age 18) of baby boomers. New findings from the study indicate that baby boomers are holding off on major purchases and instead of channeling those savings into retirement accounts to support their Gen X and …