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financially independent young adults

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financially independent young adults

The share of financially independent young adults ages 18 to 29 have been stable in the last decades. However, young men have higher have a chance of being economically stable than young women. This gender gap has been diminishing recently. A survey conducted on young adults shows that most of them rely on their parents for finances. About 45 percent of the young adults of 18 to 25 years had received financial help from parents from the last year. The majority of the young adults receiving financial assistance from parents say that most of the money was for recurring expenses such as pay tuition, bills, groceries, and rent. Although they are financially independent, the pace they are reaching other adulthood marketers has been slowing. Research shows that the majority of young adults living in their parents homes up even in their early 30s. Some of them give reasons such as economic challenges and realignment of priorities and goals.

A study shows that the majority of American parents do a lot for their young adults these days. Ten percent of adults say parents are doing little, about 34% say the parents are doing the required, while 55 percent say that parents are doing too much for their young adults. Young adults are less likely than older and middle adults to say that parents do too much for their young adult children. Views of parents of young adult children of 18 to 29 years show that there is a disconnection between how these parents assess their children and how they describe them in the family dynamics. 61% of adults with children of ages 18 to 29 said that parents these days do too much for their adult children. Only 28% of parents say that they pamper their adult children too much. Most of the parents say they do the fair amount for their children. Only 8% claimed that they do little for their children.

Fathers and mothers have the same views on the issue of financing their adult children. About 29% of all mothers and 26% of the fathers say they do in excess to their young adults. 62% and 63% of mothers and fathers respectively believe that they do the right amount to their adult children. Young adults feel mostly satisfied with their parents’ actions. The majority (65%) of them say that their parents do the right amount for them. Only 18% and 16% say that their parents do too much and little to them, respectively.

Most young adults are less likely to say that they receive too much financial aid from their parents. However, the majority of the parents say that they give financial assistance to their adult children of ages 18 to 29. Roughly 59% of parents with children of 18 to 29 years of age say that provide them with a lot of financial help for the last twelve months. About 41% say they give little while 16% little or no financial assistance during the previous year. There are no gender disparities in issue as 46% of young men, and 44% of young women say they receive some or a lot of financial help from their parents. However, there are disparities where young adults of ages 18 to 22 are more likely to say they receive financial support from their parents than those of ages 23 to 29.

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