Grandparents Are Doing More for Grandkids Than Ever Before
Families are closer now than ever because of the recent economy. This recent closeness isn't the only think that the economy has effected as far are family relationships are considered. According to a survey of 1,900 grandparents conduction by the AARP grandparents are helping their grandchildren financially.
Over a third of those grandparents over 50 years of age and older contribute financially to their grandchild's upbringing.
40% of those grandparents surveyed ages 69 years and older contribute more than $500 annually with over half providing for their grandchild's education. Grandparents also helped out with medical, dental, and everyday expenses for their grandchildren.
AARP’s multigenerational and family issues expert Amy Goyer said grandparents “are the safety net for American families, helping to pay for practical expenses and necessities.”
We are so lucky in my family to have both my mother and my husband's parents help our son Riley out. If it weren't for my mother I don't know how we could afford to send my son to daycare. My mom also watched my son at our house for the first two years of his life.