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5 Articles
Half of parents are paying their Gen Z and millennial adult children $1,474 a month—but they plan to pull the plug in the next two years because it’s eating into retirement
About 50% of parents are still financially supporting their Gen Z and millennial children, a new report reveals—and it’s setting them back nearly $1,500 monthly on average. But they’ll soon be forced to stand on their own feet as the banks of Mom and Dad are shutting down soon. Millennials may be pushing 40 now—but their parents are still shelling out to help them stay afloat. About 50% of parents financially support at least one of their adul…
'Bank of Mum and Dad' Strained as 50% Fund Their Adult Children $1474 Monthly
The long-standing joke about the 'Bank of Mum and Dad' just got a serious upgrade. According to a new report, 50% of American parents now financially support their adult children, with the average monthly contribution hitting a three-year high of $1,474 (roughly £1,160). But behind the growing generosity lies a complicated picture of rising costs, intergenerational pressure, and simmering parental burnout. The survey, conducted by Savings.com, e…
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