Americans who are worried about their parents’ financial well-being in retirement may be letting those concerns cause them to sacrifice their own quality of life, according to a TIAA survey.

The survey found that 27 percent of adult children lack confidence in their parents’ financial security, and are twice as likely to lack confidence in their own retirement.  

Fifty-seven percent of the respondents also indicated that their parents’ financial planning for retirement has impacted their own, with 44 percent avoiding taking on significant debt, and 38 percent saying they have adopted a more conservative financial approach by limiting their spending on non-essentials.

The older the generation, the more concerned they are about their parent’s financial security, the survey found. Thirty-five percent of Gen X adults and 26 percent of baby boomers described their parents’ financial outlook as very good or excellent, compared with 52 percent of millennials.

The same applies when it comes to confidence in parents’ financial security in retirement. Forty-seven percent of Gen Xers and 34 percent of baby boomers said they were confident in their parents’ current or future financial security, compared with 60 percent of millennials.

Also, 39 percent of Gen Xers and 35 percent of baby boomers disagreed that their parents’ approach to saving and investing is admirable and one to emulate, compared with just a quarter of millennials.

Among the 20 percent of adults who said they are confident in their retired parents’ long-term financial security, 21 percent indicated that they have some or a lot of concern about their parents running out of money in retirement.

Researchers said the perceptions people have about their parents’ financial plans may not always match reality. Seventy-two percent of millennials rate their parents’ financial outlook as good to excellent, yet just over half of Gen Xers and boomers rate their own financial outlook the same—57 and 58 percent, respectively.

Noting that people’s financial habits and retirement planning are shaped by the experiences of their parents, Dan Keady, chief financial planning strategist at TIAA, said: “The confidence that millennials have about their parents’ finances may actually create a false sense of security, especially when individuals mistakenly believe they will receive an inheritance (and plan their finances around it) when their parents don’t have the same plans or intention.”

This online survey of 1,003 U.S. adults was conducted in February.