Some seniors are financially supporting their adult children, and this is cause for concern because these clients might run out of money in retirement.
This isn’t news. But what’s different is that there are more seniors who are choosing to move in with their children. And it’s not low income or unemployment that’s driving this trend. It’s simple demographics, reports The Wall Street Journal.
And it’s mostly foreign-born seniors who live with children because the share of seniors born in other countries is rising, says The Wall Street Journal, from 8% in 1994 to 13% in 2013.