Should adults be financially independent by 21? Boomers think so, but Gen Z disagrees.
a recent study found.
While baby boomers between the ages of 59 and 77 think people should start paying their own bills for things like cell phones, credit cards, and car insurance at 19 years old, Gen Z thinks they shouldn't shell out on until they turn 21 or 22, per the study. The study found that 68% of parents have made a"financial sacrifice" to help their adult kids with their finances. 31% of parents said they have made a"significant financial sacrifice."
The results vary by income bracket. 58% of households making an annual income below $50,000 have made financial sacrifices for their adult children, compared to 46% of households making more than $100,000 a year, according to the study.
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