alt Hacker News33% of GenX is still depending on their parents? That's shocking... I'm at the young end of GenX at 49yo. So, a slice of the population that is fast approaching retirement age is still reliant on their septuagenarian or octogenarian parents for money? Wow.
Replies
Source: https://news.northwesternmutual.com/planning-and-progress-st...
OK, now I'm questioning the whole thing... it also claims 17% of Boomers reliant on their parents. So, we have some substantial number of 62-80 years olds relying on their 90-100 year old parents? Seems unlikely.
yeah that's ridiculous. I'm 50 and fully support my MIL (she lives in my garage apartment) and my sister fully supports our mom (she lives with my sister). The boomers i know are completely financially dependent on their children.
Well, that's where the money is.
The 55 and older demographic holds 70% of the wealth in America[1].
The 70 and older demographic holds 31% (almost 1/3) of the wealth in America[2].
1: https://finance.yahoo.com/news/older-americans-control-70-we...
2: https://www.apolloacademy.com/31-percent-of-wealth-owned-by-...