Only 21% of parents believe they’ll stop financially supporting their children when they turn 18

That’s according to research by Legal & General who also found that 27% of parents do not think they will ever stop financially supporting their kids.  The research found that the majority of parents are relying on their own parents for financial support for their adult children, with 65% believing that contributions to their child’s ISA will come direct from grandparents.

However, at the other end of the extreme, 10% of parents who do not believe they can afford to fund their children past 18, say it is simply not their responsibility to do so.

 

Source:  Credit Action – January 2012 edition

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