Financial Attitudes and Inter vivos Resource Transfers from Older Parents to Adult Children |
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Authors: | Celia Ray Hayhoe Michelle L Stevenson |
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Institution: | (1) Department of Apparel, Housing, and Resource Management, Virginia Polytechnic and State University, 101 Wallace Hall (0410), Blacksburg, VA 24061, USA;(2) Office of Research and Technology Transfer, University of Texas System, 601 Colorado Street, Suite 111, Austin, TX 78701, USA |
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Abstract: | This exploratory study combines economic, family, and decision-making conceptual models to investigate the factors influencing
resource transfers as reported by older adults. Pilot data on 61 adult children was obtained during face-to-face interviews
with 18 older parents. Hierarchical multiple regressions were conducted to predict time (emotional support) and financial
(cash and gifts) inter vivos transfers from demands, resources, values, and relationships. Positive health ratings, strong
affection for the adult child, and money retention attitudes were associated with frequent emotional support. Small household
size predicted frequent financial transfers. Results indicate the importance of values, resources, demands, and relationships
in predicting resource transfers from older parent to adult child. |
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Keywords: | Family resource management theory Intergenerational transfers Older adults Parent– child relationship Social support |
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