A recent study by TIAA-CREF shows that grandparents can have a significant impact on the outcome of their grandchildren’s financial future. They can accomplish this by making a point to have frequent discussions about money.
Roughly 8% of grandparents reported talking to their grandkids about money and the importance of college savings.
Grandparents, however, say they don’t think they have a significant influence when it comes to their grandchildren’s money habits.
Most of the grandparents are surprised to hear that the young adults surveyed disagree. About 85% of young adults say they are open to engaging in this conversation.
Take a look at this infographic by TIAA-CREF.