Multi-Generational Views on Family Financial Obligations

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A MetLife Survey of Baby Boomers and Members of Generations X and Y

The survey examines the feelings of obligation and responsibility family members have to each other and how those feelings translate into action.

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Findings

A sense of strong responsibility and obligation is widely felt by respondents across the generations for the following scenarios:

Saving enough for retirement to avoid having to ask family members for assistance
Having a parent live with them if they need help due to a major health or financial issue
Making sure a spouse or child would have enough money if a financial provider dies unexpectedly
Helping to pay for a child’s college education
Providing strong and consistent emotional and non-financial support and contact

Methodology

The online survey of 2,123 Americans ages 21 to 65, was conducted from June 29 to July 20, 2011. In addition to the online survey, and to add depth to the understanding of these familial relationships and the responsibilities that they imply, the study incorporated a qualitative research component. A total of seven interviews were conducted with parent-child pairs representing all three generations.

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Multi-Generational Views on Family Financial Obligations

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A MetLife Survey of Baby Boomers and Members of Generations X and Y

Findings

Methodology

Graphic

Related Content

Findings

Methodology

Graphic

Related Content

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