Reply to NYT: 30 somethings still being bankrolled by their parents

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[quote=Anonymous][quote=Anonymous]The survey for these results is very odd:

More than half (53 percent) of Americans ages 21 to 37 have received some form of financial assistance from a parent, guardian or family member since turning 21, according to a 2018 report by Country Financial, a financial services firm in Bloomington, Ill. This may include paying bills for a cellphone (41 percent), groceries and gas (32 percent), rent (40 percent) or health insurance (32 percent).

First, as others have noted the age range is 21 to 37.  People at the lower end of that age range are still in college, a time when parents typically do pay a lot of expenses.

The inclusion of health insurance is also odd--under the law parents' health insurance covers children until age 26 and in many cases that coverage is superior and often cheaper than what what young people could get on their own.

Finally, as many have pointed out, children's cell expenses can be very cheap on the margin under their parents' family plan and it would make little sense for parents to drop them and have the child get much more expensive single service.

While the article may be capturing a true trend, it needs much better numbers to document it.[/quote]

Yeah. I'm at the top end of that age window. I haven't received financial gifts from my parents in many, many years. But, my parents did cover my car insurance during undergrad, and I lived at home rent-free for a four months between graduation and getting married, so I guess I would be part of the 53% who said "yes."[/quote]

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