Young adults in the U.S. are experiencing a very different trajectory than their parents, with more of them hitting key milestones later in life and also taking on more debt, according to a new report from the Pew Research Center.

A majority of young adults say they remain financially dependent on their parents to some extent, such as receiving help paying for everything from rent to their mobile phone bills. Only about 45% of 18- to 34-year-olds described themselves as completely financially independent from their parents, the study found.

Not surprisingly, the younger members of the group, those 18 to 24, are the most likely to rely on their folks for financial support, with more than half relying on their parents to help take care of basic household expenses. But a significant share of 30- to 34-year-olds also need assistance, with almost 1 in 5 saying their parents provide aid for their household bills.

More broadly, the survey offers a portrait of a generation that’s struggling with debt in a way that their parents did not, with more of them shouldering student loans and, for those who own a home, larger mortgages than their parents had at their age. But the analysis also showed that young adults expressed optimism about their futures, with 3 in 4 who are currently financially dependent on their parents saying they believe they’ll eventually reach independence.

  • myrdinn@lemmy.world
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    10 months ago

    I live with my grandparents. My 80 year old grandmother who never had to work offers me daily career advice. They bought many 3 bedroom brick homes in the late 80’s for 15k and now rent them out for close to 1k per month. I love them dearly, but they’ve contributed to holding back an entire generation from homeownership. They got to enjoy life on easy mode and now wonder why I can’t get my shit together. They wonder why I’m not buying a 350k house on a $15 an hour income, or getting married and starting a family.

    Because you took everything and won’t give it up. Because you used all the easy to reach resources. Because you fucked up pensions and healthcare and education and housing and every other facet of society and now don’t care that I’m living in the shitstorm you created. Fucking hell.

    • GiddyGap@lemm.ee
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      10 months ago

      Please let me know where I can rent a 3-bedroom brick home for 1k per month and sign me up with your grandma’s rental business.