Grandparents Deep Pockets – Parent’s Failure…

According to a MetLife Mature Market Institute QuickPOLL, nearly two-thirds of America’s grandparents have given financial support to their grandkids during the last five years. The poll was titled “Grandparents: Generous with Money, Not with Advice”.

The poll data shows that grandparents are more prone to help their grandchildren while they are alive rather than leaving them large sums after their death. Andy Albright

The average amount was $8,661 which is around $370.7 BILLION total in the last five years.
40% was given for general purposes and 26 percent was given for education.

25% said they have increased their assistance because of the poor economy.
Grandparents with lover incomes/net worth have increased the percentage of their giving during the economic crisis.

22% reported that their giving has negatively impacted their own financial wellbeing.
37% of grandparents with a college degree financially support education vs. 24% of grandparents without a college education.

46% of those supporting education setup a college fund, 26% are paying for pre-college expenses, and 24% are helping with college tuition or loans.
83% give in cash, gifts such as cars and computers come in second. Financial Freedom

30% have spoken to their adult children about life insurance to protect their grandchildren’s future.
78% think it’s more important to distribute smaller gifts throughout their lifetime as needed vs. leaving a large amount in their wills at death.

The study polled 1077 U.S. Adults 45 and older with grandchildren at or below 25 years old.

What does this mean? It means that a vast majority of parents cannot adequately provide for their children. They do not have financial freedom and are still stuck in the day to day rat race. Some may have been laid off because of the economy. Some keep plugging away day after day doing what they’ve been programmed to do by the “system” – get a job, go to work, die broke.

There is a better way. Financial Freedom is NOT having money in the bank – it IS having the mindset that allows YOU to CONTROL YOUR LIFE. You’ve read the newspaper stories of lottery winners who are suddenly rich beyond belief… how many return to their pre-winner financial situation after a few years? A lot if not most of them. They simply have the mindset of BEING BROKE. So that’s where they gravitate to.

Change your mind and you change your world. If you’re ready, NAA is here to help you transform your future into a future of success and freedom.

Andy Albright.
NAA is an insurance marketing organization that supports independent insurance agents in all 50 states. In 2008, the company provided more than $13.3 billion in life insurance protection to families throughout the U.S. The company specializes in term and mortgage protection life insurance products, but also provides a full array of insurance-based financial services. Headquartered in Burlington, NC, the company employees approximately 130 people and serves more than 9,000 insurance agents.

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