A parent wants to see their kid make it in life. Maybe that’s going to a good school. Maybe it’s curing some disease or making it to the big leagues. And a parent wants to help with that journey—after all, it’s a parent’s obligation to care for their child. But how that care looks like has changed over time. It once simply meant school pickups and weekend soccer games, then college savings and late-night financial advice calls. But for many parents today, that support stretches far beyond childhood, following them well into adulthood.
A new study from financial services firm Northwestern Mutual reveals that parents are stepping in on one essential step for achieving the American dream: the down payment. The survey—conducted through more than 4,300 online interviews in January—found that more than half of parents, or 52%, are open to considering helping their kid buy a home—and 22% have already stepped in.
