Half of Americans who financially support their children and parents say they are being prevented from living the life they want to live.For many American adults, retirement is beginning to feel even more out of reach. Not only are consumers today grappling with increased prices in a time of economic struggle but are also taking on the financial responsibility of taking care of loved ones, both younger and older — making it nearly impossible to financially support their own aspirations.
Survey respondents told the company that supporting adult children, in particular, has exacerbated not only financial hardship but resentment as well. More than half of respondents who fall into this cohort said that “it feels impossible to make any financial progress at this stage in their life” — compared to 55 percent of those who had children under 18.