Pity the poor millennials. Laden with student debt, unable tofind jobs — or to find enough of them to make ends meet, many havebeen reduced to returning home to their parents’ (formerly) emptynests, there to try to figure out a new strategy on how to maketheir way in the world. But now they have another burden: guilt —for messing up their parents’ retirementplans.
What’s that again? Yes, many millennials — although certainlynot only millennials — are getting financial support of one kind oranother from mom and dad, despite the fact that mom and dad shouldpresumably be salting away any spare cash they find against theirfuture retirement.
How widespread is it? A new LIMRA Secure Retirement Institutestudy found that six out of every 10 American parents are providingfinancial support to their adult children, regardless of its effecton their retirement plans.
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