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Mom and Dad

The Bank of Mom and Dad (BoMaD) isn’t new as kids have been borrowing or receiving gifts from parents for years. But a new study by Legal & General, a U.K.-based financial services firm and global investor with $1.27 trillion in assets, has found a new twist, one that “hurts” parental retirement savings.

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Ginger Szala

Ginger Szala is executive managing editor of Investment Advisor magazine. She covered the financial business and alternatives industry for 30 years while editor of Futures Magazine Group. She is based in Chicago. Go Blackhawks!

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