Adult childrens’ knowledge of retired parent finances — November 2010, reviewed January 2013

How much do adult children know about the income and expenses of their retired parents?  This can be an important issue when health changes requires caregiving.

Recent research by the nonpartisan Employee Benefit Research Institute asked this question.  The results, part of the 2010 Health Confidence Survey, were released in October 2010.  Here are the findings:

In essence the study showed that adult children felt they knew less about their retired parents income than the parent felt their children knew.  This is an important factor to remember when having family caregiving discussions.  For full results of the 2010 Health Confidence Survey go to the website www.ebri.org.