Yahoo Finance · 22 Sep, 11:00 · Finance briefing

92% of grandparents give financial help to grandkids — and it's draining their retirement savings

Recent reporting indicates that a significant majority of grandparents are providing financial assistance to their grandchildren.

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The briefing

The story
in brief.

What happened, who it affects, and why it landed on our intelligence desk — in plain English, sixty seconds or less.

Recent reporting indicates that a significant majority of grandparents are providing financial assistance to their grandchildren. This trend is notably impacting retirement savings, with many older adults depleting their funds to support younger family members. The data suggests a growing intergenerational financial dependency, driven by rising living costs and housing challenges. For professionals, this highlights a broader economic shift where familial financial safety nets are being strained. Understanding these dynamics is crucial for career planning, as it reflects changing workforce demographics and potential future labour market pressures resulting from delayed retirement or increased part-time work among older generations seeking income stability.

Employer demand for Finance and Accounting skills — indexed growth since 2019
Indicative index of skill mentions in professional job postings for the field this story moves (2019 = 1)

Your move

What this means
for your career.

Every headline redistributes opportunity. Here is who this one rewards — and how to be on the right side of it.

This trend signals a shift in household financial resilience, directly affecting your career planning. As older professionals delay retirement or seek supplementary income, competition for senior roles may intensify. You must sharpen skills in financial literacy and strategic planning to navigate this landscape. Prioritise understanding wealth management and intergenerational finance, as these areas gain prominence. Professionals in advisory roles should focus on developing tailored solutions for clients balancing family support with retirement goals. Additionally, enhance your ability to analyse demographic data, as employers will value insights into workforce retention strategies for older employees. Proactively manage your own financial health, ensuring you are not vulnerable to similar pressures. Focus on continuous learning in areas that offer flexibility and high demand, securing your long-term career sustainability amidst evolving economic realities.

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Indicative salary uplift in the fields matched to this story
Indicative ranges from published continuing-education salary studies, by field — each field is a recommended course below

Matched to this story

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