Connect with us

Hi, what are you looking for?

U.S. News

Many Parents Say They Are Still Financially Subsidizing Their Now-Adult Children

via Youtube

Many parents are financially supporting their adult children well into their late 20s and early 30s, despite the children being more educated and earning more than their parents did.

The Pew report found that adult children are more likely to have student loan debt, with a median debt of $16,000 for those aged 25-29 and $20,000 for those aged 30-34.

Notably, about a third of young adults aged 18-34 are still living with their parents, with many contributing financially to the household.

“Young adults are reaching some key milestones such as marriage and parenthood later in life, even as they exceed their parents’ generation when it comes to educational attainment, employment and wages,” Pew researchers wrote.

The living arrangement is generally viewed positively by both parents and children.

“Young adults with lower incomes (43%) are more likely than those with middle (28%) or upper incomes (19%) to say they helped their parents financially. Similarly, parents with lower incomes are the most likely to say they received financial help from their young adult children (29%), compared with 9% of those with middle incomes and 2% of parents with upper incomes,” the report noted.

Financial assistance flows in both directions, with 59% of parents providing help to adult children, and 33% of young adults helping their parents financially.

The impact of this assistance on the parents’ finances varies, with lower-income parents more likely to be negatively affected.

Read Also:

TV Star Blames Crisis Under Biden Admin For Son’s Death

Hunter Biden’s ‘Sugar Brother’ Makes Bombshell Admission


You May Also Like


President Joe Biden delivered a speech during the signing ceremony of a proclamation to establish the “Emmett Till and Mamie Till-Mobley National Monument” in...


The ex-husband of First Lady Jill Biden is speaking out about serious concerns with “the Biden crime family.” Delaware businessman Bill Stevenson sat down...


Joe Biden’s 2020 presidential campaign repeatedly insisted that he had no involvement in his son Hunter’s overseas business dealings. “I have never spoken to...

U.S. News

A 911 call was made from former President Barack Obama’s Martha’s Vineyard estate after a 45-year-old man struggled for his life. Just yards away...