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The Brian Lehrer Show

Financially Dependent Young Adults

The Brian Lehrer Show

WNYC

News, News Commentary, New, Wnyc, Radio, Daily News, Bryan, Public, Politics, York, Lerer, Arts, Media, Nyc, Npr

4.61.5K Ratings

🗓️ 26 January 2024

⏱️ 14 minutes

🧾️ Download transcript

Summary

Yesterday, Pew Research released a results of a study showing that only 45% of young adults ages 18 to 34 are completely financially independent from their parents. We hear from listeners -- both parents and young adults -- about giving and receiving financial aid within their families, what this aid is used for, how this dynamic affects their relationships, and their aspirations for financial independence in the future.

Transcript

Click on a timestamp to play from that location

0:00.0

And we will close the show with a call in about something that might be going on in your life as we

0:14.7

often do in our last 15 or 20 minutes. Today it'll be calls from young adults or

0:21.4

parents of young adults and the question is parents do you have a child in their

0:27.2

20s or 30s right now and if so are you helping them out financially in any sort of way?

0:34.4

212 433 WNYC.

0:38.0

Maybe you still pay their phone bill or you help them

0:40.6

with a portion of their rent.

0:42.0

Do they still text you, asking for bank transfers

0:45.6

when they've run through their paycheck at the end of the week, perhaps you even take them to

0:49.2

the grocery store a few times a month. Parents of young adults, does this sound like you?

0:54.8

212 433 WNYC.

0:58.1

Why do I ask?

0:59.1

Because if so, you're not alone.

1:00.7

Yesterday, Puyre search released a study reporting that only 45% of young adults

1:06.5

ages 18 to 34 are completely financially independent from their parents in this country, only 45% independent in that 18 to 34 age group, less than half.

1:19.0

Of course, the level of support greatly varies among those age ranges among 18 to 24 year olds

1:27.1

only 16% are financially independent

1:39.3

from their parents.

1:42.0

So while this variation is expected, it's noteworthy that even at

1:47.5

age 30 to 34 a third still require cash from moms and dads to survive in the United States of 2024.

1:56.3

So listeners are you a young adult to

2:00.9

invite of course the young adults not just the parents of young adults into the

...

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