GettyBoomer and Gen X parents sometimes fret about all they’re still doing to provide financial support to their grown children. Merrill Lynch and the research firm Age Wave just asked more than 2,700 of the nation's 18-to-34 year olds. The most common types of financial support: cell phone plans; food; school costs and car expenses. Parental financial support of early adults, said Ken Dychtwald, CEO of Age Wave, is “the new normal.” An earlier Next Avenue story about a Merrill Lynch Age Wave survey of parents, last year, documented that. When Young Adults Think Financial Support Is a Bad ThingBut nearly two thirds (64%) of the young adults just surveyed said parents’ financial support to children age 25 to 34 is “a bad thing,” because it makes those kids dependent.

Source: Forbes April 18, 2019 18:56 UTC