2019-01-03 10:38:00 Thu ET
technology social safety nets education infrastructure health insurance health care medical care medication vaccine social security pension deposit insurance
American parents often worry about money and upward mobility for their children. A recent New York Times survey suggests that nowadays American parents spend more time, effort, and money raising their kids. In recent times Merrill Lynch reports that the average cost of raising a child to 18 years old tops $230,000. The same report also suggests that 79% of American parents continue to provide financial support to their adult children. Costs for food, school, transportation, entertainment, technology, and other activities typically increase as children grow older. Also, 69% of parents admit to feeling pressure and even anxiety to give their children what their peers have.
There is an element of competition, peer pressure, or keeping up with the Joneses that entices parents to spend more money on their children. Economic prosperity motivates these parents to help ensure that their children are financially better off than the previous generations. A recent empirical study by the Federal Reserve Bank of St Louis demonstrates that millennials face unique financial struggles. The financial struggles include higher average unemployment rates, stagnant wages, less affordable residential properties, and student debt imbalances. Millennials are now at risk of becoming a unique lost generation that collectively accumulates less wealth during their lifetime.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2019-11-07 14:36:00 Thursday ET

America expects to impose punitive tariffs on $7.5 billion European exports due to the recent WTO rule violation of illegal plane subsidies. World Trade Org
2019-07-29 11:33:00 Monday ET

Blackrock asset research director Andrew Ang shares his economic insights into fundamental factors for global asset management. As Ang indicates in an inter
2023-11-14 08:24:00 Tuesday ET

Thomas Sowell argues that some economic reforms inadvertently exacerbate economic disparities. Thomas Sowell (2019) Discrimination and econo
2023-10-14 10:32:00 Saturday ET

Jonathan Baker frames the current debate over antitrust merger review and enforcement in America. Jonathan Baker (2019) The antitrust paradi
2019-01-07 18:42:00 Monday ET

Neoliberal public choice continues to spin national taxation and several other forms of government intervention. The key post-crisis consensus focuses on go
2018-03-02 12:34:00 Friday ET

White House top economic advisor Gary Cohn resigns due to his opposition to President Trump's recent protectionist decision on steel and aluminum tariff