A large number of parents across the UK are currently making long-term financial sacrifices in order to provide support to their grown-up children.
That is according to research released today (April 17th) by Standard Life, which revealed that 30 per cent of Britons are providing their offspring over the age of 18 with monetary assistance.
The study found that, on average, parents feel they will invest around £15,490 in each of their adult children as they help them with the cost of expenses such as weddings, house deposits and university fees.
Standard Life indicated that if people opted to invest this sum in a pension instead, they could build up a retirement pot of some £38,500 after 20 years, to buy themselves some extra pension income.
John Lawson of the savings and investments firm noted this trend is likely to be exacerbated further in the future because of the high level of unemployment among young people.
"There's no doubt that many more adult children will be relying on their parents for support which must be a real worry for many parents," he added.