Globally, many younger employees expect that it will be necessary during their own retirement to also provide financial support to aging family members, according to a new study, titled “The Changing Face of Retirement: The Aegon Retirement Readiness Survey 2013,” while 12 percent are “very optimistic” about having enough money for retirement. For the study, conducted by the nonprofit foundation Transamerica Center for Retirement Studies in collaboration with Aegon, 12,000 workers and retirees from 12 European, North America and Asian countries were surveyed.
Three in 10 employees between ages 18 and 24 expect they will have to provide financial support to aging parents, compared to 16 percent of employees between 35 and 44 and only 8 percent between 55 and 64. In the United States, 32 percent of employees between the ages of 18 and 24 expect to financially support their aging parents.
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