The Financial Strain of Supporting Adult Children in America

Many American parents with working-age children are sacrificing their emergency savings and debt repayments to aid their adult children, according to a Bankrate/YouGov survey. The survey found that 43% of respondents said such financial assistance had dented their own retirement savings. The findings hint at the toll taken by months of price increases, even on working-age Americans who’ve benefited from a historically hot job market. As interest rates rise, some expenses like auto loans are also increasing.