More Parents Supporting Grown Children, in Denver and Nationwide
A changing economy. The rising cost of health care. Greater material expectations in the form of iPhones and daily grande lattes from Starbucks. More and more, parents find themselves shelling out their hard-earned savings and working longer to assist grown children who are struggling.
“I have clients fully supporting their children, their children’s spouses and grandchildren in their late 30s or even 40s,” says Victoria J. Marschner, a Certified Public Accountant with a practice in Boulder.
The phenomenon is on the rise, according to a 2013 survey by the Pew Research Center. In 2005, 20 percent of all “middle-aged” parents were the main source of support for at least one grown child. That has now has leaped to 27 percent, the Denver Post reported June 10.
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