90% of Boomers Help Support Adult Children

Smart Money reports:

more than nine out of 10 baby boomers – 95% of men and 92% of women – say they have provided financial support to their adult children. But boomer fathers appear to be more likely than boomer mothers to write a check.

For instance, fathers are more likely than mothers to say they have helped their child buy an automobile (58% vs. 48%), or co-signed a loan or lease agreement (42% vs. 32%). Similarly, 51% of boomer fathers say they have helped a child pay for auto insurance, compared with 43% of mothers, and 37% of fathers have helped with car payments, compared with 29% of mothers.

The success of Keynesian economics!