More Baby Boomers grown kids are asking them for financial help forcing them to dip into savings

Baby Boomers’ adult children are relying on their parents more and more for financial help — and some grandparents are even dipping into savings and retirement accounts as they’re forced to rethink their golden years.Nearly two in five parents of young children expect to receive — or ask for — financial help from their own parents or grandparents over the next year, according to the BMO Real Financial Progress Index survey.Among those expecting help, 47% said relatives would provide cash for day-to-day necessities, while a quarter expected contributions to 529 plans or other savings accounts.Meanwhile, 11% of grandparents surveyed in separate research reported withdrawing money from savings or retirement accounts to help their grandchildren financially, according to AARP.Haron Marlee — a 59-year-old semi-retired therapist who spent $24,000 in a single year helping support her grown daughter and grandchildren — is a prime example.The cash covered expenses ranging from diapers and gas to car insurance, Bloomberg News reported.The financial burden upended Marlee’s own retirement plans.After moving from New Jersey to Florida, she expected to work part time, focus on her health and spend more time playing tennis.Instead, she became a regular babysitter and even picked up bartending shifts to help her 36-year-old daughter’s family stay afloat after the younger woman’s marriage ended and she struggled to find work.“Those burdens fundamentally changed my finances, my retirement plans,” Marlee told Bloomberg.Eventually, she imposed firmer boundaries, even as they lived under the same roof.

The daughter began chipping in with cooking and cleaning, and eventually began contributing to rent and household expenses, too.“It’s the norm,” Robert Laura, founder of the Retirement Coaches Association, told The Post when asked whether he was seeing more retirees and near-retirees helping adult children.Laura said a brutal combination of housing costs, col...