Younger generations, such as Gen Z (ages 18-26), are graduating college and starting their careers in a tumultuous period of inflation and rising interest rates. Gen Z believes young adults should begin to pay bills later in life than older generations do, but they may be putting off financial independence as a result. However, helping adult children too much in the short term can harm parents’ long-term retirement or savings plans.
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Bankrate Survey: 68% have made a financial sacrifice to help their adult children with money
Remember that saying about putting your oxygen mask on before helping others. While we of course want to be empathetic and help our kids, sometimes financial assistance goes too far. — TED ROSSMAN, SENIOR INDUSTRY ANALYST
