In the eyes of most children, parents are authoritative know-it-alls who can do no wrong. The perception sticks even as children become adults, at least when it comes to managing money.
A new report from Fidelity Investments shows that adult children often put their parents on a financial pedestal, with nearly half (47%) saying that their parents never made any financial mistakes. Parents, meanwhile, are quick to point out their childrens financial misdeeds. More than four in 10 parents (42%) brought up their childrens credit card debt with nearly as many faulting them for not saving for retirement early enough (38%) and not building a large enough emergency fund (36%).
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