Grandparents Spend an Average of $2,562 a Year on Their Grandchildren

Grandparents Spend an Average of $2,562 a Year on Their Grandchildren

Grandparents spend an average of $2,562 per year on their grandchildren, finds an AARP report.

The study also found 79 percent of grandparents do not consider themselves a financial supporter, yet 94 percent of them provide some sort of financial support. The majority of grandparents are spending money on gifts, with an annual average of $805 on gifts. 11 percent of grandparents have grandchildren living with them.

The Number of Older American Workers Has Doubled Since 1985

The Number of Older American Workers Has Doubled Since 1985

Top Concern in Retirement is Going Broke

Top Concern in Retirement is Going Broke