My apologies for the hiatus in posting! I took a long weekend from July 16 through July 20 to visit my parents in a celebration of my father's 90th birthday -- yes, he's 90 years old and as wise and witty as ever! And then I stretched that long weekend into more than a week of vacation time.
While I catch up with the mail, here are two questions asked -- and answered -- by a national survey for MetLife that was released a few days ago. In this harsh economy, I think many of you will be able to identify with both the question and the answer.
Q: In the past year, how many Americans have given money to a family member to help him or her pay bills?
A: Survey results show a remarkable generosity and family feeling, spanning multiple generations. The answer is 50% of those born between 1933 and 1945; 49% of those born between 1946 and 1964; 44% of those born between 1965 and 1977; and 46% of those born between 1978 and 1994.
This poll didn't question enough people born before 1933 to produce a representative sample -- but based on my own family, the percentage of givers is just as high among Americans born between 1920 and 1932.
Q: Who has received money from a family member to help pay his or her bills in the past year?
A: Those receiving a financial lifeline from someone in their family also span several generations. The answer is 12% of Americans born between 1933 and 1945; 29% of those born between 1946 and 1964; 38% of those born between 1965 and 1977; and 50% of Americans born between 1978 and 1994.
I think it's safe to say that we're setting our children and grandchildren a good example. Economically, the American family is in dire straits; but on a spiritual level, it's doing just fine.
Please send your questions to Lynn@LynnBrennersFamilyFinance.com. I'm sorry I can't respond personally to every email. Questions are only addressed online.
(c:) Lynn Brenner, All Rights Reserved