Grandparents Investing in Grandchildren: The MetLife Study on How Grandparents Share Their Time, Values, and Money, conducted in partnership with Generations United, provides a window into the many contributions grandparents make to the lives of their grandchildren in passing down important values as well as providing care and financial assistance even when this support may impact their own financial security.
Just over one in 10 grandparents (13%) provides care on a regular basis for at least one grandchild. Of those, 32% are providing care five or more days per week.
The majority (62%) of grandparents have provided financial support or monetary gifts for grandchildren within the past five years. The total average amount provided over the past five years among this group for all grandchildren was $8,289 total, with more than half having given up to $5,000.
For tips on how you can make a difference in your grandchild’s life, visit Grandparents Investing in Grandchildren.