Failure to Launch: Americans Still Rely on Parents to Help with Mobile Phones, Gas, Groceries and Health Insurance
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The latest COUNTRY Financial Security Index® revealed that more than half of Americans (53 percent), aged 21 to 37, have received some form of financial assistance from a parent, guardian or family member since turning 21, with one-third (37 percent) of them receiving money monthly and more than half (59 percent) receiving money a couple of times a year.
The types of support these Americans are receiving from their parents range from everyday needs such as paying for a mobile phone (41 percent), groceries and gas (32 percent), to more pressing life needs such as rent (40 percent) and health insurance (32 percent).
In addition to relying on mom and dad for groceries, gas, rent and health insurance, Americans are opting to leave the nest later in life. In fact, more than one-third (35.3 percent) of Millennials are still living with their parents.
"We are seeing more and more Americans living with their parents, but this should not necessarily be viewed as a negative thing as long as there are clear fiscal goals in place," says
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