A parent's job is never finished. And for many American parents of Gen Z & Millennials, the support into adulthood includes extending a financial lifeline as well.
USA Today surveyed 5,000 parents of adult children between the ages of 22-40 to learn about whether or not they financially support their children, along with what their beliefs are about children being financially supported once they are old enough to earn full-time income.
Key Findings:
65% of parents give their adult children (ages 22-40) financial support.
Of those who support adult children, the average monthly amount is $718.
American parents believe children should be financially independent by the age of 24.
43% of parents who support adult children say the support is offered with no contingencies.
Parents in Washington, New Jersey, and Virginia support their adult children the most.
Check out the full study
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