Many Irish adults are still relying on the bank of mum and dad to pay the mountain of bills that are pushed through the letterbox.
New research has revealed that pensioners are being extremely generous towards their adult children and don’t have much left for themselves at the end of the month.
The study, which was carried out at NUI Galway found that more elderly people support their grown-up children than adults do their aged mum and dad.
Many elderly people are living in poverty as they try and support their children
High mortgages and unemployment are sited as the main reason why many Irish families are relying on granny and granddad and Dr. Kieran Walsh who was responsible for the study said that many Irish pensioners are living in poverty as they try to support their children.
“Our study identified a number of older parents who were evidently making major financial sacrifices in order to support the welfare of their adult children,” the study said.
An elderly woman who took part in the study said she often helps out her daughter as her husband has been out of work for three years.
“They have children, so we have to try and help them,” she said.
