Parents in Great Britain face the same fiscal pressures as we do here--their grown children could use a bit of a financial boost. Here are two recent stories on the issue. This one looks at KIPPERS, Kids in Parents' Pockets Eroding Retirement Savings. It's from an Irish newspaper and one point it makes is this:
"There was a time when parents were distraught when their son or daughter left home at a young age to emigrate, but now they are upset that they cannot get young Sean or Sarah to leave the nest.
Many adult children appreciate the home comforts and know that the 'Bank of Mum and Dad' will pick up the tab. Why wouldn't they keep living at home well into their 30s when mother does their laundry and father pays for the food?"
And this one is more about the stats. The survey found one interesting point I haven't seen in other studies of parents helping kids with housing. Here it is:
"Recent research from Abbey Mortgages also suggests that first-born
children are more likely to receive financial help from their parents
when purchasing their first home.
A study by Abbey showed that 17% of first-borns received financial help when purchasing a home, while this figure fell to 12% for second-born children and 9% for third-born siblings."
