Families need to open up about money as they grow increasingly more interdependent, say researchers of a new report from Hearts & Wallet, a retirement and investment trends research firm based in Hingham, Mass.
According to the findings, one in five pre- and post-retirees support their children financially, up from 18% in 2012. Meanwhile, the percentage of primary breadwinners between the ages of 53 and 64 supporting their parents also edged up, to 12% from 7% in 2012. Despite the growing interdependence, two out of three families avoid talking about intergenerational finances.
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