Bloomberg Wealth: The Parent Trap

How old is too old to be tapping the Bank of Mom and Dad?

This week we wrote about parent-child financial relationships and the lengths people will go to to help their adult kids. Nearly 70% of parents with children 18 or older say they have sacrificed their own finances to help their offspring — with some even draining their retirement funds to do so. The article also looked at when different generations think it’s time to become financially independent: Baby Boomers thought age 20 was about right. Gen Z preferred age 22.