"Financial Dependency: The Reality for Most Gen Z and Millennials"
TL;DR Summary
A Pew Research Center study reveals that over half of adults aged 18 to 34 rely on financial support from their parents, with Gen Zers 18 to 24 being the most dependent. Factors such as student debt and increased mortgage debt have contributed to these generations struggling to achieve financial independence. Additionally, experts note that financial and cultural changes are causing young adults to delay key milestones such as marriage, homeownership, and starting a family.
Topics:business#finance#financial-dependence#gen-z#household-expenses#millennials#pew-research-center
- Most Gen Z and millennials are financially dependent on their parents: Pew report New York Post
- Many parents say they are still financially subsidizing their adult children CNN
- US millennials, Gen Z need parents' help to pay household bills Yahoo! Voices
- Less than half of young adults are financially independent of their parents: Pew analysis The Hill
- A portrait of America's young adults: More debt burdened and financially dependent on their parents CBS News
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