40% of young Australians expect to support their parents financially in retirement.
A survey by AMP found that half of under-40s expect to help their parents in retirement. Many retirees worry about depleting their savings, and young adults are reluctant to discuss the topic of intergenerational wealth with their parents. Despite concerns about housing affordability and retirement savings, young Australians believe they will need to support their parents financially as they age.
July 29, 2024
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