November 27, 2018

Can't retire due to parents and kids at home

Just so you know you are not alone... Michael Phillips & Heather Gillers, writing in The Wall Street Journal, explore the increase in the sandwich generation. "A 2014 study by the Pew Research Center found 52% of U.S. residents in their 60s--17.4 million people--are financially supporting either a parent or an adult child, up from 45% in 2005. Among them, about 1.2 million support both a parent and a child, more than double the number a decade earlier, according to an analysis of the Pew findings and census data." (11/17-8/18, A 1 & 9)
The main consequence is delayed retirement. A full decade after the Great Financial Crash, many people are still suffering the economic consequences.

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