Almost Half of American Parents Financially Supporting Adult Offspring

Maybe if boomers hadn’t totally looted the entire economy, millennials and zoomers would be doing better?

Or maybe it’s just that millennials are way worse scum than boomers ever were, and these whining faggots should have just pulled up their bootstraps and started passing out firm handshakes?

It will really be up to history to make that call. I’m in no position to do so.

The Guardian:

Nearly half of US parents provide some kind of financial support to their adult children, who are grappling with higher food and living costs than they did, a new study has found.

The study – conducted by – found that young, working-class Americans were not substantially benefiting from the recovery of the country’s economy, as “evidenced by high employment, falling inflation, and economic growth”. That has forced many of them to continue to rely on their parents to help cover costs of living.

The average age of adults receiving financial help from their parents – sometimes at the risk of the parents’ retirement security – was 22, according to the study. And while parents surveyed in the study on average said their adult children should become financially independent by 25, many were supporting those children beyond that milestone.

Of parents providing support, 21% were helping millennials (age 28-43) or members of gen X (age 44-59). Millennials and gen X adult children were on average given between $907 and $960 each month by their parents.

Gen Z adults (between 18 and 27) were getting more help from their mothers and fathers, averaging about $1,515 monthly.

Note: The federal government is giving illegal immigrants $2200 a month.

Just for reference.

Notably, many adults from gen Z still have college and university expenses.

The most common expenses parents covered for adults across those three generations were groceries, food, cellphone bills, rent, mortgages, tuition and health insurance.

With soaring costs of food, housing and other living expenses, more adults are either choosing or being forced to still live in their parents’ home, the survey determined. And the future outlook of the cost to live in the US remains bleak.

The study also said 61% of adults living at their parents’ homes don’t pay rent or contribute to any household expenses.

I wish Americans were aware of how much better the quality of living is in China.

They would freak out.

Chinese millennials own multiple properties, their own companies, they’re blowing tens of thousands of dollars at casinos like it’s nothing, they’re decked out in designer clothing.

The Chinese millennial experience of “money is just falling from the sky” is very similar to the situation boomers experienced in the 1980s.

Elvis Dunderhoff contributed to this article.