How Affluent Parents Are Teaching Their Children About Finances: BofA
June 29, 2021 by Michael S. Fischer
Parents are providing more financial support for their children in light of the pandemic, and are committed to imparting more financial knowledge than they received growing up, according to a new study from Bank of America.
The independent market research firm Concentrix conducted a panel-sample online survey from Oct. 28 to Nov. 5 among 2,000 affluent respondents across the U.S., including 1,456 current and future parents. Respondents 18 to 24 had investable assets between $50,000 and $1 million; older respondents had investable assets between $100,000 and $1 million.