According to a U.S. Bank survey, more than half, or 53%, of Gen X parents have concerns that their kids will require financial support well into adulthood. This figure stands in contrast to 37% of all parents. Gen X is facing unique challenges that intensify these worries.

Unraveling the Financial Woes of Gen X Parents and Their Kids

Financial Planning and Its Importance

Financial planning plays a crucial role in the lives of Gen X parents. It involves budgeting, expense tracking, and profit and loss analysis. Spreadsheet software becomes an essential tool in this process, helping them manage their finances effectively. With rising education, housing, and healthcare costs, having a well-thought-out financial plan is more important than ever. For example, Natalia Gdovskaia's photo captures a moment where financial planning is at the forefront. Adinah Caro-Greene, an employee benefits broker, has seen how these costs have created economic challenges for her Gen Z son and his peers. Part of her long-term financial goal is to fully pay off a rental property that he can inherit and potentially live in. "It's uniquely hard for kids now," she says. "Seeing how hard it is for my son's generation has motivated me to do what I can."

The "Sandwich" Generation Dilemma

Gen X is often referred to as the "sandwich" generation, facing the financial pressures of supporting both parents in retirement and kids as they come of age. Most Americans are dealing with runaway inflation following the pandemic, but Gen X parents are particularly focused on whether their kin will be able to make it without monetary aid. Tom Thiegs, family wealth coach at U.S. Bank's Ascent Private Capital Management, points out that Gen Xers have grown up in less-than-ideal economic conditions, witnessing four of the five largest stock market crashes in history. They were among the first to mainly use 401K plans for retirement instead of pensions. Now, they are questioning if Social Security and Medicare will be around long enough for them to benefit from the systems they supported throughout their adult lives. Thiegs says his clients are "worried" but not "paralyzed." They have been through economic downturns before and have a mindset of being ready to handle unexpected situations. "It's not just all doom and gloom for Gen X," he says. "There's also this understanding that we'll be able to figure it out."

The Bank of Mom and Dad

Caro-Greene notes that it's common among parents she knows to give money to their young-adult children, especially in the high-cost San Francisco area. A Savings.com survey found that parents offering financial support to their kids are shelling out an average of $1,384 per month. For Gen Z offspring, this figure jumps to $1,515. Marguerita Cheng, a mother and certified financial planner, says there's a question of how long and to what extent parents should be footing the bills for their kids into adulthood. "I would never tell you not to help your child," she says. "But it's important to have boundaries or limitations to giving." Cheng advises parents to avoid depleting their savings and struggling in retirement while helping their children. She also suggests removing the stigma around discussing money and decisions like living at home after college. For those with the means to help, clear guidelines can be useful, such as setting a cap on how much money to give or distributing funds incrementally over a predetermined timeframe. Given Gen X's experiences, Thiegs finds that this generation thinks differently about their dollars and how to use them, including considering their children and other family members in the equation. "They've broadened into a more holistic view of money," he says. "It's not just balancing your checkbook, but also understanding what, long term, do I want for my life."

In a highly anticipated event, the NBA Cup championship game is set to take place between the Milwaukee Bucks and the Oklahoma City Thunder. Both teams emerged victorious in their respective semifinal matches on Saturday, with Giannis Antetokounmpo leading the Bucks to a win over the Atlanta Hawks and the Thunder outlasting the Houston Rockets in a battle of defensive-minded squads. The championship game is scheduled for Tuesday at 8:30 p.m. ET in Las Vegas, with a substantial prize pool of more than $500,000 per player at stake. It's important to note that this game will not count towards regular season standings or stats.

Thunder's Defensive Dominance and Key Players

The Oklahoma City Thunder holds the top spot in defensive rating among NBA teams. In their semifinal clash against the Houston Rockets, they showcased their defensive prowess. At times, the game wasn't pretty, but the Thunder managed to outlast Houston with a 111-96 win. In the first half, both teams struggled with their shooting, with both teams shooting below 33% from the field. However, the Thunder woke up first and took a double-digit lead early in the fourth quarter, eventually expanding it to 15 points. Shai Gilegous-Alexander was a key contributor, hitting 32 points, his 13th 30-point game of the season, along with eight rebounds, six assists, and five steals. Isaiah Hartenstein, Lu Dort, and Jalen Williams also played significant roles, each contributing at least 19 points. Hartenstein had the better of Rockets standout big man Alperen Şengün, who finished with 13 points on 6-of-16 shooting, four turnovers, and five fouls.

Giannis Antetokounmpo's Dominance over the Hawks

Giannis Antetokounmpo was a force to be reckoned with in the Bucks' win over the Hawks. He finished just shy of a triple-double with 32 points, 14 rebounds, and nine assists. He shot 10-of-15 from the field, demonstrating his scoring ability. Damian Lillard wasn't far behind with 25 points, seven assists, and six rebounds, although he went just 5-of-14 from behind the arc. Trae Young fought hard to keep the Hawks in the game in the third quarter after a tight opening half. He shot 6-of-7 from the field during that period and put the Hawks in the lead entering the final period. However, Antetokounmpo and the Bucks surged ahead in the fourth quarter, mounting a quick 7-1 run powered by three short buckets from him. He also sealed the deal in the final minutes with a wild block on Clint Capela at the rim to break up an alley-oop. Young led the Hawks with a near-triple-double of his own, finishing with 35 points, 10 assists, and seven rebounds. Jalen Johnson added 15 points and 10 rebounds, and De’Andre Hunter contributed 15 points and seven rebounds off the bench.

How to Watch the NBA Cup Championship Game in Las Vegas

The much-awaited NBA Cup championship game between the Milwaukee Bucks and the Oklahoma City Thunder will be broadcast on ABC at 8:30 p.m. ET. Fans can tune in to catch all the action as these two teams battle it out for the championship. Here's a breakdown of how to watch the game:Milwaukee Bucks vs. Oklahoma City ThunderTime: 8:30 p.m. ETChannel: ABCThis is a moment that basketball fans around the world have been waiting for. The intensity and excitement on the court are sure to be palpable as these two talented teams go head-to-head.