The family as an income source for the older adult

There is little attention given to the issue of the family as a source of income for the older adult. Yet this is a topic of increasing importance with the current funding problems in the Social Security system. This article presents an empirical analysis of family contributions to the income of adults in or near retirement. Findings confirm that the within-family transfer of money is rarely a source of income for the older adult. Those who receive mone from relatives are more likely to be poor, female, and in bad health. Despite family efforts, these people are likely to remain at low income levels.