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According to recent studies, more than 50% of millennials are financially supporting their parents. The statistics get even more interesting. Did you know that almost 75% of these millennials are women.

I also share my concerns about how caring for my parents will affect my finances in these episodes with Dr. Jay:

Also, according to a 2015 TD Ameritrade study, one in five millennials support their parents by spending an average of $18,250 per year. We discuss:

How to budget taking care of parents.
How to avoid depending on your children by adequately funding your retirement.
The role of high divorce rates amongst baby boomers plays.
Subsidizing retirement with a rental property.

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