Parents should support children through their college years, help with tuition and provide financial assistance during emergencies, according to 90 percent of respondents in a study from MetLife Mature Market Institute.

Multi-Generational Views on Family Financial Obligations: A MetLife Survey of Baby Boomers and Members of Generations X and Y reported that respondents think that parents should not bail their children out of debt when the debt is from overspending, and just 7 percent feel a strong responsibility that parents should contribute to a down payment on a house.

Also among the findings:

Boomer parents are more likely (75 percent) to have provided financial assistance with items other than education or a house, compared with 40 percent of Gen X parents with adult children. Fifty-seven percent of Gen Yers have received such support from parents or grandparents, compared to 36 percent of boomers.
35 percent of boomers received support for college tuition from their parents, but all three of the generations believe it is their obligation to do so for their children.
Seven in 10 boomers (70 percent) said enjoying retirement takes precedence over leaving an inheritance; just 64 percent of Gen Xers and 57 percent of Gen Yers agreed.
Across the generations, 78 percent feel obligated to provide for a surviving spouse if one dies unexpectedly, but 41 percent said their life insurance coverage falls short.

Special Reports /

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