March 12, 2007

Gen Next: Still Picking Mom and Dad’s Pockets

73%

Nearly three-quarters (73%) of Gen Nexters — Americans in the age range 18-25 — told a recent Pew survey that they have received financial help from their parents during the past 12 months. Fully 46% say they depend on their parents or other family members for financial assistance.

Nearly three-quarters (73%) of Gen Nexters — Americans in the age range 18-25 — told a recent Pew survey that they have received financial help from their parents during the past 12 months and fully 46% say they depend on their parents or other family members for financial assistance. Nearly two in three (64%) say their parents have helped them out with errands, housework and home repairs. Not surprisingly, in both of these categories, the preceding generations of Gen Xers and Boomers are receiving much less assistance from their parents. Only 33% of Xers and 19% of Boomers got financial help from their parents in the past year. Read More