> A recent study from Merrill Lynch and Age Wave reported that 79 percent of the parents surveyed are providing financial support to their adult children, at an average $7,000 a year
Wow, this can’t be right. I mean I’ve had friends whose parents paid for their university and stuff like that, and mine helped me a little bit with tuition at a cheap state school, too, for which I’m grateful. But ongoing financial support, year after year? And 4 out of 5 parents? Yow! Guess I’m naive, but I had no idea it was that common. Maybe age is part of it. I was lucky enough to go to uni before the days of 6 figure student loan debt.
I know exactly one adult whose parents pay for all their bills, including rent. We’re friends so I give him hell about it. “You’re a grown-ass man with a decent job. Let mommy and daddy retire already!” I think once you start down those tracks and get used to the “extra funding” lifestyle, it’s hard to get off the train.
Yeah I am a bit surprised, though I do see many of these examples around me. I have several peers into their late 20's receiving support, many in the NYC area as well.
My parents put a roof over my head, valued education, helped with most all of my tuition for undergrad (over 100k), I have 7k of student loan debt left to pay off and I am 26. Right now, I am only left on their phone plan, which I just venmo my dad monthly for, 50 bucks for unlimited on Verizon and I bought my phone off of Swappa for 200 bucks (I recommend Swappa as well, save your money)
I've also seen parents feed junkies, so there's that. I don't understand the ones not working, yet going out all the time, no money management, doing drugs....parents sending money... WHY?!?!
Wow, this can’t be right. I mean I’ve had friends whose parents paid for their university and stuff like that, and mine helped me a little bit with tuition at a cheap state school, too, for which I’m grateful. But ongoing financial support, year after year? And 4 out of 5 parents? Yow! Guess I’m naive, but I had no idea it was that common. Maybe age is part of it. I was lucky enough to go to uni before the days of 6 figure student loan debt.
I know exactly one adult whose parents pay for all their bills, including rent. We’re friends so I give him hell about it. “You’re a grown-ass man with a decent job. Let mommy and daddy retire already!” I think once you start down those tracks and get used to the “extra funding” lifestyle, it’s hard to get off the train.