Parents’ finances reflect on today’s adults’ poverty: at-risk-of-poverty rate for current adults with a bad financial situation in the childhood household ranged from 10.2% in Czechia to 40.1% in Bulgaria.
Parents’ finances reflect on today’s adults’ poverty: at-risk-of-poverty rate for current adults with a bad financial situation in the childhood household ranged from 10.2% in Czechia to 40.1% in Bulgaria.
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There is a correspondence between the financial situation of the parents’ household and the risk of poverty among today’s adults.
In 2019, in the EU, the at-risk-of-poverty rate was 23.0% among people with a “bad” financial situation in their household when they were around 14 years old.
This percentage is 9.6 percentage points (pp) higher than the at-risk-of-poverty rate among those with a “good” financial situation in their childhood household.
The at-risk-of-poverty rate for current adults with a bad financial situation in the childhood household ranged from 10.2% in Czechia to 40.1% in Bulgaria.
On the other hand, the at-risk-of-poverty rate for current adults with a good financial situation ranged from 5.9% in Czechia to 16.6% in Spain.
[Source](https://ec.europa.eu/eurostat/web/products-eurostat-news/-/ddn-20211201-2).
So you’re more likely to be poor if your parents were also poor.
Lithuania is fared worse than Latvia and Estonia, and can into Southern and Eastern Europe. Sad.