Adulthood can cost a lot. And many U.S. adults still depend on their parents. The survey, conducted by Savings.com, says half of U.S. parents are still financially supporting their adult children. The top categories where assistance has been needed are groceries, rent and mortgage, cell phones, car payments, tuition, health insurance, and vacations. The survey consisted of 977 parents who have children ages 18 and up. Almost one in five adult children who receive financial support from their parents are over the age of 30. Mothers were slightly more likely to do this than fathers, and younger parents were also more likely than older parents near or in retirement to shell out to support their adult children.
If you are a parent, do you still help out your adult children? Should parents still financially support their grown children?