Introduction
In August 2024, we at the National Endowment for Financial Education (NEFE) fielded a survey with SurveyUSA focusing on the financial circumstances of Americans in multigenerational households. We surveyed 1,475 adults and found that 55% (812) lived in a multigenerational household, defined as respondents who live with adult children over 25 years old, with grandchildren of any age, or [for respondents over 25 years old], with parents or other relatives. It also includes respondents living alone, with a spouse, or with their own children under 25 years old who also provide financial support to children who live in another household or who provide unpaid care, help, or financial support to adult relatives or friends who need assistance.
Given the broad definition of multigenerational households, we found many different makeups of families. Of the full sample of 1,475 adults, 54% report living with their spouse or partner, 27% with children under the age of 18 years old, 6% with adult children age 18 to 24 years old, 6% with adult children over 25 years old, 2% with grandchildren under 18 years old, 0% with grandchildren over 18 years old, 12% with their parent(s) or partner’s parent(s), and 10% with other individuals, while 23% reported living entirely alone. Of these 1,475 adults sampled, the 812 adults classified as living in a multigenerational household were asked additional questions surrounding the makeup of their families.
Assisting Children and Grandchildren
52% of adults in multigenerational households report having children under 18 years old currently living with them. 46% have one child, 35% have two children, and 19% have three or more children in the home. 26% of these adults are living with very young children in the household (between 0 and 2 years old); another 18% report their youngest child being between 3 and 5 years old, 32% between 6 and 12 years old, and 23% between 13 and 17 years old. Just 29 adults in our sample report living with grandchildren as the majority of our respondents fit into the “sandwich generation,” caring for both children and aging parents simultaneously. With a wide range of circumstances, we aim to convey the diverse experiences of multigenerational families.
28% of adults sampled report living with children under 13 years old at home, and these respondents were asked about their caretaking responsibilities. Of the 230 adults in our sample with children under 13 years old at home, 66% are the primary caretaker, 14% of respondents say their partner or spouse is the primary caretaker and 18% share caretaking responsibilities. 2% rely on family and friends, while 0% (1 respondent) pay for in-home childcare. Statistically, females are significantly more likely to be the primary caretaker at 75% compared to 54% of males. Being a caretaker involves different financial and emotional responsibilities, and these adults feel the impact of being in a multigenerational household in different ways.
One in five adults in multigenerational households are living with adult children or grandchildren at home. 27% of these adults say their adult children or grandchildren are all currently enrolled in school, 11% say one or more are not enrolled, and 63% say none are enrolled in school. Of those not enrolled in school, 69% say their children have full-time jobs (53%) or part-time jobs (16%), 10% are unemployed and looking for work, 9% are unemployed but not looking for work, and 12% are permanently disabled.
Over a third (35%) of all 1,475 adults sampled say they do or have provided financial support to children or grandchildren who do not live with them. 21% of all adults sampled report that they currently provide financial support, 3% do not currently provide such support but did recently, 11% used to provide such support, and 65% do not and have not provided support to children living elsewhere. Respondents who fall into a lower household income bracket are more likely to not provide any support at all (72%), while respondents with household incomes $60-<$100k report providing financial support the most (28% currently; 4% recently; 10% not recently; 58% not at all). Even without children or grandchildren in the house, it is relatively common to continue to support them. We include those supporting adult children and grandchildren in our definition of multigenerational households due to the unique financial responsibilities adults caring for children outside of the home experience.
Assisting Adult Relatives, Friends and Parents
157 adults report living with their parent(s) or their partner’s parent(s). 37% of this sample report their parents working full time, 8% report them working part time, 10% report their parents are unemployed, 8% report their parents are homemakers, 24% report their parents are retired, and 12% say they are permanently disabled. Of those who reported people living with them other than their spouse or partner, children, and parents, 47% say they are their siblings, 30% say they are other relatives, and 36% say they are other people not related to them.
Just under a third (31%) of the 1,475 adults sampled say they regularly provide unpaid help, care or financial support to an adult relative or friend who needs assistance due to aging, disability or illness.
- 52% say they provide such support to a parent
- 18% to a spouse or partner’s parent
- 13% to a spouse or partner
- 19% to another relative
- 9% to an adult child
- 9% to a friend or neighbor
- 5% to someone else.
Half (50%) of those providing support to an adult relative or friend say one or more of the people they support also live with them. Males (35%) are also statistically significantly more likely than females (26%) to report regularly providing unpaid help, care, or financial support to an adult relative or friend. Younger respondents are also most likely to report regularly providing unpaid help, care, or financial support (18-49: 40%; 50+:19%). As adults get older, it becomes less likely that they are the ones giving assistance and more likely that they are the ones receiving assistance.
Conclusion
There are dozens of ways a multigenerational family can look. They could include caring for parents, living with grandchildren, financially subsidizing a friend, or supporting an adult child. They are likely also balancing multiple caretaking responsibilities at once. Multigenerational households have unique dynamics that speak to diverse experiences, and support for each may look different. In subsequent analyses, we explore many of the barriers to financial well-being these families face, their feelings on macroeconomic issues, and their levels of financial interdependence, self-efficacy and decision-making.
