96% of grandparents contribute to their grandchildren's welfare, with average annual spending $4,000, and 10% incurring debt or delaying retirement to help.
A survey by The Senior List of 1,200 grandparents found they spend an average of nearly $4,000 annually on their grandchildren, with 10% exceeding $10,000. Many grandparents make financial sacrifices, with 63% admitting to this, and 26% adjusting their lifestyle for support. Alarmingly, 10% incur debt or delay retirement to assist. Overall, 96% contribute to their grandkids' welfare, and 16% have a grandchild living with them.
October 23, 2024
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