Recent Grandparents Survey

The MetLife Mature Market Institute recently published a survey about grandparents. Highlights of this report include:

•  63% of grandparents provided financial support for their grandchildren in the last five years.
• Only 32% of grandparents gave their children financial advice (such as start saving early in life).
  
• 26% of grandparents provided money for their grandchildren's education.
• 25% reported that they increased their financial support of grandchildren due to the poor economy.
  
• 22% believed that providing this money had a negative effect on their own financial situation.

This survey polled 1,077 U. S. adults aged 45+.  More information about this survey can be found here. 

Scam Alert!

There is a new scam which targets grandparents. The scammer calls someone and pretends to be their grandchild. They may know the names of family members or they may trick the grandparent into saying the name of the grandchild. The scammer then pretends that he is on trouble. For example, he or she may say that their car broke down, they are stuck in a foreign country, or that they need bail money to get out of jail. Then, they ask their "grandparent" to wire them money, but not to tell their parents.

The Federal Trade Commission (FTC) recommends that if you get such a call, you should not act immediately and send the money. Instead, take the time to verify the caller's identity by asking them questions to which only family members know the answer. In addition, try to reach the parents of the grandchild to find out if this is a hoax. If you can't reach a family member to verify the story, the FTC recommends that you contact your local police on their non-emergency line and ask for their assistance. You can call the FTC at 1-877-382-4357 to report possible fraud.

The FTC has more information about this scam here.

National Grandparent's Day

National Grandparents Day is the first Sunday after Labor Day, which is September 7th this year. President Jimmy Carter added this celebration in 1978. Marion H. McQuade first championed the idea for this celebration and her descendants created a nonprofit organization, the National Grandparents Day Council. The organization website states:

"Our goals are to honor grandparents and to strengthen
the bond between grandparents and grandchildren.
Additionally, we strive to draw compassionate attention
to the eldest of society's elderly--those in nursing homes."

New River Library is having a Grandparent's Day program on Saturday, September 6th from 2:00pm -4:00pm. There will be Wii video games, activities for children and their grandparents, and refreshments.

[New River Library address: 34043 State Road 54, Zephyrhills, Fl.]