Do you own stock in the bank of Mom and Dad? Are any of your adult children relying on you to cover any of their living expenses?
If so — or you know someone else who is — you’re not alone. Pew Research Center found some surprising stats about parents who lend money to their adult children, including the fact 61% of parents lent their adult children money in 2015.
Today I talk through some of Pew’s findings — and lay the groundwork for considerations to have if or when you find yourself in this situation. For more advice on money and finance, subscribe to my channel for daily episodes of Your Money Minute.