New report says more parents are using their retirement savings to support adult children.
A Bankrate Survey found high earners are more likely to dip in to their savings, while low income parents are more likely to never save for retirment.
In fact, 1 in 6 parents who make less than $50,000 a year say they did not save because they were supporting their adult children.
The survey says “helicopter parenting” could be a cause for the increase, making it harder for children and parents to let go in adulthood.
