News Feed Item

New Survey Finds Why Having a Daughter is a Better Financial and Emotional Investment for Parents Than a Son

Today’s news bolsters the growing evidence that women are increasingly more financially independent, finding that they’re 32 percent less likely than men to need their parents’ financial support. The survey was conducted by Harris Poll in May 2014 among 2,046 U.S. adults ages 18 and older and commissioned by Yodlee Interactive, whose APIs power financial innovation outside of banks. With Father’s Day approaching, this report highlights another reason dads can be thankful they have a daughter.

To share the infographic, click here: http://www.pinterest.com/pin/90142430016642029/

Summary of key statistics:

  • Only 31 percent of women with living parents/in-laws receive financial support from them, compared to 41 percent of men
  • Women (25 percent) are less likely than men (32 percent) to live with their parents/in-laws, based on all U.S. adults with living parents/in-laws
  • Almost twice as many men (20 percent) say they do not plan to support their parents emotionally (e.g., calling them, visiting them) as do women (12 percent), based on all applicable responses

The joys of having a son get better with age. Here are some deeper dive results on how middle-aged sons (ages 35-44), who have living parents/in-laws, in particular stack up to their female counterparts of the same age range:

  • They are more than twice as likely as females ages 35-44 to receive financial support from their parents, based on all U.S. adults with living parents/in-laws
  • They are more than three times as likely as their female counterparts to live at home with their parents
  • They are also almost twice as likely to cite being unemployed or underemployed as the reason they live with their parents, while women ages 35-44 are more than twice as likely to cite because they’re taking care of their parents

“Many people think that once you become an adult, you become financially self-sufficient,” said Joe Polverari, General Manager of Yodlee Interactive. “This survey shows that this isn’t always the case, as dependence on parents’ financial help varies greatly among American adults. These results stress the need for more communication and education around financial independence, because ultimately if this learning doesn’t start at home, it may result in a child never leaving home.”

Daughters Are More Financially Self-Sufficient

Daughters are more financially stable than sons. Only a quarter (25 percent) of the women surveyed live with their parents/in-laws, compared to almost a third (32 percent) of adult males.

Surprisingly, this differentiation is magnified for adults between the ages of 35-44. Within this range, women are half as likely to need any sort of financial support from their parents/in-laws, and even less likely to need them to house them as compared to men. And even further distinguishing these gender groupings, those daughters living with their parents are more likely doing so to take care of them, whereas sons need the financial support because they’re unemployed or underemployed.

Daughters Will Provide More Emotional Support

It doesn’t stop there. Fathers and mothers can take comfort knowing that their daughters are more likely to provide them with emotional support as they get older. The survey found that, out of applicable respondent, sons are almost twice (20 percent) as likely as daughters (12 percent) to say they don’t plan on providing their parents/in-laws emotional support in the form of calling or visiting them.

Other findings explained:

Financial Dependence Geographically

Adults (ages 18 or older) living in the South are more likely to be living at home with their parents than any other region. Over a third (34 percent) of all adults living in the South with living parents/in-laws still live with them, compared to 30 percent on the West Coast, 24 percent in the Northeast, and 23 percent in the Midwest.

In-Laws Are Out of Luck

Regardless of gender, in-laws should not expect to be treated equally as birth parents in terms of any type of support. The survey found adults are half as likely to support their parents-in-law, both financially and emotionally, as they are to support their own parents.

Americans’ attitudes, among respondents with parents/in-laws, around supporting parents versus in-laws are shown below:

  • 77 percent of adults said they would provide their parents with emotional support as they age, while only 36 percent said the same of in-laws
  • 45 percent of adults said they would support their parents as they age by subsidizing their medical bills, while only 17 percent said the same of in-laws
  • 53 percent of adults said they would support their parents as they age by subsidizing their living costs, while only 22 percent said the same of in-laws
  • 50 percent of adults said they would support their parents as they age by having them move closer, while only 21 percent said the same of in-laws
  • 46 percent of adults said they would support their parents as they age by having them move in, while only 19 percent said the same of in-laws
  • 48 percent of adults said they would support their parents as they age by moving closer to them, while only 17 percent said the same of in-laws
  • 45 percent of adults said they would support their parents as they age by paying for them to live at a medical/nursing home or having a live-in nurse, while only 19 percent said the same of in-laws

Survey Methodology

This survey was conducted online within the United States by Harris Poll on behalf of Yodlee from May 8-12, 2014 among 2,046 adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact [email protected].

About Harris Interactive

Harris Interactive is one of the world's leading market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll® and for pioneering innovative research methodologies, Harris offers proprietary solutions in the areas of market and customer insight, corporate brand and reputation strategy, and marketing, advertising, public relations and communications research. Harris possesses expertise in a wide range of industries including health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Additionally, Harris has a portfolio of multi-client offerings that complement our custom solutions while maximizing our client's research investment. Serving clients in more than 196 countries and territories through our North American and European offices, Harris specializes in delivering research solutions that help us -- and our clients -- stay ahead of what's next. For more information, please visit http://www.harrisinteractive.com.

About Yodlee Interactive

Yodlee is a leading technology and applications platform powering dynamic, cloud-based innovation for digital financial services. Yodlee Interactive makes the Yodlee Platform available to digital services companies and developers via open and secure data APIs, to build next-generation financial apps and services. Today more than 300 companies, large and small, are powered by Yodlee Interactive APIs, accelerating FinDat innovation globally.

Yodlee and Yodlee Interactive are headquartered in Redwood City, California. For more information, visit interactive.yodlee.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Successful transition from traditional IT to cloud computing requires three key ingredients: an IT architecture that allows companies to extend their internal best practices to the cloud, a cost point that allows economies of scale, and automated processes that manage risk exposure and maintain regulatory compliance with industry regulations (FFIEC, PCI-DSS, HIPAA, FISMA). The unique combination of VMware, the IBM Cloud, and Cloud Raxak, a 2016 Gartner Cool Vendor in IT Automation, provides a co...
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his session at 19th Cloud Expo, John Mertic, director of program management for ODPi at The Linux Foundation, will explain why this is, how we can work together as an open data community to increase adoption, and the i...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...