Young adults may be overlooking a strong source of financial advice that they have easy access to: their parents.
An online poll from the The National Foundation of Credit Counseling revealed that most young adults reach out to Dad before seeking Mom's advice. Moms shouldn't feel slighted though: 64 percent of respondents said they can get better financial advice than either parent can offer.
"Taken together, only slightly more than one-third of respondents would turn to either parent," said Gail Cunningham, spokesperson for the NFCC, in a press release. "Younger generations may want to reconsider where they seek financial advice, as the data associated with baby boomers from the NFCC's 2014 Financial Literacy Survey (another survey generated by the organization – Ed.) indicates that the 55-64 age range has their financial act together in many areas associated with successful money management."
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
