POST 50
11/20/2013 10:25 am ET

Do You Give Money To Relatives? You May Be The 'Family Bank'

Bruce Laurance via Getty Images

More than six in 10 older Americans have become the “family bank,” giving financial support to relatives even if it means delaying their own retirements, according to a new survey.

Among people age 50 and older, 62% gave monetary assistance to a family member in the last five years, either one-time help or ongoing support, according to the study by Merrill Lynch Global Wealth Management and research firm Age Wave.

Read more on Los Angeles Times

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