Three-fifths of parents with adult children gave them financial help in the past year, Pew Research reports in a new study.
The finding illustrates — in case we needed a reminder — that modern parenting does not end when a child turns 18. But supporting an adult child can get costly, financial planners say. And parents need to make sure their own financial needs are met.
Roughly half of under-30 adults live with their parents, prior Pew research has shown. That figure has spiked dramatically over the years.
Americans are marrying later, and waiting longer to have children. Researchers say those trends point to a new life stage, tucked between adolescence and full adulthood. Some term it “emerging adulthood.”
‘Snowplow’ parents clear a financial path for adult children
Young adults face myriad economic challenges in 2024 America. College costs and student debt loads are rising. House prices have soared. Mercurial inflation and interest rates have vexed consumers.
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Parents, for their part, seem ever more inclined to carry on with parenting well past the age a child exits childhood, removing every obstacle in their path. Some researchers call it “snowplow” parenting.
“Let’s move everything out of the way, so our kids can walk perfectly down the street,” said Jonathan Abramowitz, a psychology professor at the University of North Carolina.
It’s easier than ever to pay an adult child’s bills, whether the kid lives with you or…
