Economy

Wealth moving from older generation to much younger - grandchildren

More grandfathers than ever are having a greater hand in their grandchildren's lives.
More grandfathers than ever are having a greater hand in their grandchildren's lives. Omar Vega/South Florida Sun-Sentinel/MCT

When it comes to generously providing financial support to the younger generation, grandparents are doing what they can to help.

Indeed, about two-third of grandparents nationwide have provided financial support to their grandchildren during the last five years, according to a MetLife Mature Market Institute survey.

Twenty-five percent of the grandparents polled say the economy has caused them to increase the help they give to their grandchildren.

The average amount provided was $8,661, or about $370.7 billion in the last five years.

Read the complete story at kansascity.com

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