Linked Lives and the Financial Consequences of Living with Aging Parents

• In Event: Demography of Housing Inequality and Instability

Abstract

Although approximately 25% of U.S. adults residing in multigenerational households report caregiving for older adults as their primary motivation for co-residence, the economic ramifications of such caregiving arrangements are less understood. Using pooled Basic Monthly Samples of the Current Population Survey (CPS) (2009–2023) – merged with migration variables from the Annual Social and Economic Supplement (ASEC) – we examine whether moving in with an older parent experiencing health limitations is associated with financial strain for adult children. We identify 1,081 adult children who reported moving in the past year and subsequently coresided with a health-limited parent. Using difference-in-differences models with individual fixed effects, we compare financial strain indicators – including income-to-poverty ratios, SNAP receipt, and food insecurity – before and after moving in. Findings will inform policy debates about caregiver tax credits, paid family leave, and economic support for family caregivers as the U.S. population ages.

Authors

• Adriana Reyes, Cornell University

• Anna Maria Bokun, NYC Department of City Planning

• Jacqueline L Angel, The University of Texas at Austin

• Elizabeth Vasquez, Department of Epidemiology & Biostatistics, CIHS, SUNY Albany

• Stipica Mudrazija, University of Washington