(NPR) If you’re the economic pillar for both your kids and your parents, you’re not alone.
One-in-seven adults financially support both their parents and their kids at the same time,according to a Pew Research study released Wednesday.
What’s the main reason behind this? Researchers say grown children who are “struggling to achieve financial independence” have become part of their parent’s financial responsibility. The study cites the Great Recession and low employment figures as factors for young adults’ unsuccessful job retainment. (A 2012 study noted youths were often underemployed, still living at home and had it harder than their parents.)
