According to new study done by MetLife that surveyed three generations on family financial obligations: baby boomers (1946-1964) Gen Xers (1965-1976) and Gen Yers (1977-1990), all 3 groups agreed that parents should support their children through their college years.
They also feel parents should provide help during financial emergencies such as an illness or job layoff.
The survey found the oldest group was less willing to subsidize their adult children mainly because they were closer to retirement.
In the baby boomers group, only one-third of them received help with college from their parents. In comparison, 46 percent of Gen-Xers received help. About three-quarters of boomers had supported their own children through college.
Boomers benefited more from a college education, they got better jobs and realized how important it is economically.
Roughly 70 percent of boomers say preparing for their retirement took precedence over leaving an inheritance for their children.
About 13 percent of Gen Yers feel their parents are "highly obligated" to bail them out of credit card debit, even though it's their mistake.
Over 85 percent of American surveyed wanted to accumulate enough money for retirement to avoid asking family members for financial support as they get older.
So how do you feel, what do you think your parents owe you? Let us know on our Facebook Page .
Information from a Huffington Post story .
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