Nearly half (47%) of American adults in their 40s and 50s have a parent aged 65 or older and are either raising a young child or financially supporting a grown child (age 18 or older). And about one-in-seven middle-aged adults (15%) is providing financial support to both an ageing parent and a child according to this article from Pew Research in the USA.
Last week I saw an article heralding the end of the ’empty nest’ years for people in some economies. This article makes the same point.
With an ageing population and a generation of young adults struggling to achieve financial independence, the burdens and responsibilities of middle-aged Americans are increasing.