The financial support parents are giving to adult children has reached record levels, at least in the UK.
Last year, 39% of parents had given or loaned their adult children or granchildren significant sums of money. This year, the same survey — performed by UK insurance firm Scottish Widows — found that number had soared to 55%. The average amount parents said they gave their adult children or grandchildren was over 12,000 British pounds (over $24,000!).
How much of your retirement savings are you willing to hand off to your adult children living at home?
