Parents pay grown-up kids' bills with retirement savings
Good morning! It's Daniel de Visé with your Daily Money.
Three-fifths of parents with adult children gave them financial help in the past year, Pew Research reports in a new study.
The finding illustrates -- in case we needed a reminder -- that modern parenting does not end when a child turns 18. But supporting an adult child can get costly, financial planners say. And parents need to make sure their own financial needs are met. Read the story.
The job market is brisk. Why aren't Americans feeling it?
Friday’s blockbuster jobs report, which showed employers adding a stunning 353,000 jobs last month, again pointed up a nagging question: If the economy and labor market are so strong, why aren’t more Americans feeling it?
To be fair, Paul Davidson reports, people are feeling better than they have in the past couple of years. Consumer sentiment in January jumped to the highest level since mid-2021, thanks to easing inflation and rising incomes, according to a University of Michigan index that was also released Friday.
But the closely watched gauge is still well below its pre-pandemic level. Read Paul's story.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.
Daniel de Visé covers personal finance for USA Today.
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