Work

Sharing or Limiting the Wealth? Coresidence, Parental Support, and Wealth Outcomes in Canada

Year: 2018

Type: article

Abstract: This paper examines the relationship between coresidence with adult children, wealth, and economic security using data from the 1999-2012 Canadian Survey of Financial Security (SFS). The results, obtained via propensity score matching and linear regression, show that coresidence with and parental support for adult children is negatively associated with non-home assets and positively associated with debt levels among Canadian households. Further analyses suggest that these relationships stem from differences in financial assets, retirement savings, student loan debt, and credit card balances. By linking theories of economic insecurity, social capital, and life course studies, this study demonstrates how changing trajectories among young adults and financial hardship can influence broader household resources and stability.

Source: Journal of Family and Economic Issues

DOI: 10.1007/s10834-018-9588-1

Author: Michelle Maroto

Institution: University of Alberta

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Reduced inequalities, No poverty

Open Access status: green

Funders: University of Alberta, Canadian Institutes of Health Research, Social Sciences and Humanities Research Council of Canada