Gen X parents face unique financial challenges as they balance supporting their children and aging parents amid rising living costs. A U.S. Bank survey shows more than half of Gen X parents worry their children may need financial help well into adulthood, compared to more than a third across all generations. Economic pressures, including soaring housing, education, and healthcare costs, fuel concerns. The generation’s outlook is shaped by witnessing major stock market crashes and relying on 401Ks instead of pensions. Experts suggest setting boundaries on financial aid to avoid jeopardizing parents’ retirement while fostering open discussions about money.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Gen X parents face unique financial challenges as they balance supporting their children and
00:07aging parents amid rising living costs. A U.S. Bank survey shows more than half of Gen X parents
00:13worry that their children may need financial help well into adulthood, compared to more than
00:17a third across all generations. Economic pressures including soaring housing, education, and health
00:24care costs are fueling those concerns. The generation's outlook is shaped by witnessing
00:29major stock market crashes and relying on 401ks instead of pensions. Experts suggest setting
00:35boundaries on financial aid to avoid jeopardizing parents' retirement while fostering open
00:40discussions about money. For all things money, visit Benzinga.com slash GSTV.