Number who helped parents financially almost as high as number who paid child support

But the amount of money spent on parental support was significantly lower: $17.5 billion compared to $30.6 billion for child support, according to the U.S. Census Bureau’s 2021 Survey of Income and Program Participation (SIPP).

In 2020, about 2.4 million U.S. parents received an average of more than $2,000 (median annual payment of $3,749) from adult children.

Money given to parents fell by roughly $9 billion from 2019 to 2020, a year that included the first nine months of the COVID-19 pandemic.

Estimates from the 2014-2021 SIPP show that over this eight-year period, annual support provided to parents ranged from a low of $10.4 billion in 2014 to a high of $27.9 billion in 2018. 

Since this financial support is voluntary, a fluctuation in annual amounts is expected. However, the drop in support in 2020 may be explained by financial hardship during the pandemic, limiting the amount people could give to parents.

Large share of payments to those living outside the household went to parents

In 2020, approximately 8.7 million people provided $48.6 billion to support individuals who lived outside their households, including parents and grown children. These providers who voluntarily gave monetary support to people living elsewhere do not include those who gave mandated support in the form of child support or alimony.

Voluntary support can come in the form of regular or lump sum payments. In 2020, U.S. support providers made voluntary payments to: 

6.7 million parents ($17.5 billion). 

3.1 million adult children ages 21 or older who were not away at school ($17.6 billion).

4.0 million relatives other than parents and adult children ($11.0 billion).

1.9 million nonrelatives ($2.5 billion).

Half of all adults who made these payments to people outside their households were helping parents (4.3 million).

In 2020, about 2.4 million U.S. parents received an average of more than $2,000 (median annual payment of $3,749) from adult children.

More than half (53.9%) of parental support providers made payments to one parent and 40.8% to two parents.

When adult children report supporting only one parent, it is often because that parent is a widow or widower. Of the 2.3 million adult children who reported supporting only one parent, about 1.3 million (or 57.3 %) indicated it was because the other parent was dead.

Only 5.3% of parental support providers made payments to three or more parents (Table 1), suggesting that a minority of these households were supporting both parents and stepparents. (Payments made to parents-in-law are reported in the SIPP as payments to “other relatives.”)

Who provided parental support?

Those who provided parental support differed demographically from those who did not. They were generally younger (average age 42 vs. 47) and more likely:

To be men (57.7% vs. 48.3%).

To be employed (89.7% vs. 62.8%).

To be married (63.2% vs. 48.1%).

To have a bachelor’s degree (39.0% vs. 34.0%).