Four in 10 Americans Still Rely on Parents for Financial Support (1)

Almost half of Americans rely on their parents for financial support, including 33% of Gen X, as inflation and a volatile stock market strain household finances.

According to a report from Northwestern Mutual, 42% of Americans age 18 and older say they are financially dependent on their parents. More strikingly, 20% of Americans believe they never will be independent. That holds true across generations, despite differences in age, career stage and financial circumstances. The insurer defines financial dependence as relying on parents to fund large portions of one’s lifestyle.

Inflation and rising living costs, particularly housing, are making it harder ...