Southeast Asia Traders Study Indicates Many Children Believe Parents Have Made Few Money Mistakes, Both Have Differing Views on Priorities.
(1888PressRelease) August 24, 2013 - Southeast Asia Traders today released the second report from its inaugural Intra-Family Generational Finance Study, revealing the top three money mistakes parents think their children have made and vice-versa. The study looked at financial conversations and dynamics within the family and indicated that adult children often put their parents on a financial pedestal, while parents are quick to point out their children's debt as a key money mistake.
While the first report uncovered substantial communications gaps within families on critical topics, the second report focuses on the perceptions and priorities of parents and their children. Surprisingly, parents and their children perceive each other's financial savvy much differently. In fact, nearly half (47 percent) of children said their parents had not made any financial mistakes, while only one-quarter (24 percent) of adult children said their parents did not save for retirement early enough and one-in-five (22 percent) said they saved money in the incorrect type of account. On the other hand, parents of adult children were quicker to point out the errors their children had made, including racking up credit card debt (42 percent), followed by not saving for retirement early enough (38 percent) and not building a large enough emergency fund (36 percent).
"As families continue to face economic pressure, they can share valuable experiences and insights to tackle key financial issues that impact their personal economy, such as saving for retirement and managing a household budget," said Sam Chao, president of Personal Investing at Southeast Asia Traders.
Southeast Asia Traders Study Indicates Many Children Believe Parents Have Made Few Money Mistakes, Both Have Differing Views on Priorities. 
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