Today's Video Headlines: 10/30/24
If you hope to be a grandparent one day, be sure to contribute a little more to your retirement fund because having grandchildren is an expense you may not have considered.Supportive grandparents report that 1 in 5 feel pressured to contribute more than they can afford, with 10% taking on debt or delaying their retirement to help the grandchild.Out of the 1,200 grandparents surveyed, 10% admitted to giving $10,000 or more to their kin.
Supportive grandparents report that 1 in 5 feel pressured to contribute more than they can afford, with 10% taking on debt or delaying their retirement to help the grandchild. However, due to the unstable economy and inflation, 32% of grandparents have scaled down their financial contributions, and 7% have increased their support to assist with the increased cost of living., the Vice President of Consumer Insights for AARP wasn’t surprised about grandparents having to cut back their monetary gifting., the average spend was about $2,600 a year,” she says.
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