The Midlife Financial Squeeze: Intergenerational Transfers of Financial Resources Within Aging Families
Due to demographic changes such as increased longevity and decreased family size, midlife adults can now expect to spend more years relating to both ascendant and descendent generations sharing co-biographical experiences (Soldo 1996; Uhlenberg 1996 Bengtson et al. 1990). Intergenerational family relations are becoming increasingly important to Americans in response to these demographic shifts (Bengtson 2001). We must seek to understand “families as context” – that is, as dynamic units with members who age concurrently and share co-biographical experiences – rather than examining the isolated life course patterns of individuals (Davey et al. 2005; Hagestad 2003). Studying “families as context” suggests that intergenerational financial exchanges deserve closer attention as concerns rise about job security, postsecondary education costs, retirement savings, and public support programs such as Social Security and Medicare.
KeywordsAdult Child Financial Assistance Financial Transfer Retirement Saving Intergenerational Support
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