Pew Research reports that only 45% of young adults are financially independent from their parents, but the parents don’t seem to mind.
Almost half of young adults between the ages of 18 and 34 say they have received financial aid from their parents to pay for things like household expenses, cellphone bills, or subscription services.
But that doesn’t mean these young adults are lazy. Most of them said they help out with their parents’ expenses including groceries and utility bills or rent and mortgage payments. Some helped their parents financially when a need came, although this was only true for families in lower-income households.
What seems to make the biggest difference in financial independence is inflation and student loans. Even though young adults today make more money than their parents at their age, they also have more debt than their parents.
However, the majority of parents agreed that sharing their home longer with their adult children has had a positive impact on their relationship. Both sides seem to agree that living together as a family overall has a positive impact on their livelihood. And this could also mean that the expectation for young adults to move out of their parents’ place is no longer the norm. The emphasis seems to be on mutual support, whether that be financial or emotional.