[To comment: larry@larrylitwin.com]
Reasons people age 50 and older give adult children money — according to Robert Powell, USA Today
- Don’t know. Just give money = 36%
- Rent/mortgage/home purchase = 20%
- Cellphone bill = 18%
- Purchase or lease a car = 17%
- Education expenses = 15%
- Health care expenses = 15%
- Pay down debt = 13%
- Insurance = 11%
- Student loans = 11%
- Credit card bills = 10%
- Legal matter = 9%
Credit score analysis from Experian and Jae Yano and Janet Loehrke, USA Today
- Payment history = 35%
- Amount owed = 30%
- Length of credit history = 15%
- Credit mix = 10%
- New credit = 10% [To comment: larry@larrylitwin.com]