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I think the word "rely" is doing some heavy lifting here. Still being on your parent's family phone plan doesnt mean youd be destitute if they werent helping yo

I think the word "rely" is doing some heavy lifting here. Still being on your parent's family phone plan doesnt mean youd be destitute if they werent helping you out.

yesfitz 2mo ago
I went to the source[1] referenced by the article and found the exact question. It took about 90 seconds. "How financially independent you currently feel from your parents (meaning you could support yourself without them if needed)" 1: https://news.northwesternmutual.com/planning-and-progress-study-2026 https://news.northwesternmutual.com/planning-and-progress-st...
- flumes_whims_ 2mo ago
  According to that 17% of boomers+ are dependent on their parents. Just looking at boomers, that is around 70 on average. How many people that age even have parents still alive, let alone financially depend on them?
  - pessimizer 2mo ago
    I'd speculate (based on a study I've recently been made aware of) about 17%.
  - busterarm 2mo ago
    Boomers can be trust fund babies too.
    - vel0city 2mo ago
      Not only that, if you're a single boomer with a living parent and neither of you have much other incomes its probably better to cohabitate in that old family house that was paid off in the 90s and share what little benefits you both receive.
      - busterarm 2mo ago
        I think people also underestimate what a serious obligation this can be. I'm taking care of an elderly parent with dementia who cannot afford the care that they need. It costs me significant time and money. It has completely stalled my career. I'm not actually getting anything from them and it's worse than taking care of a newborn baby. It's interesting because I'm around the age where most of my peers are dealing with something like this and it's something I'd never heard talked about seriously even once my whole life. I was totally unprepared for it and it seems to be a thing that large numbers of people are quietly suffering with. It has given me a lot of empathy for people who I may have judged as underperformers, etc.
        vel0city 2mo ago
        It's a story I've seen a lot. Proper care for those people in such situations is a hard full-time job on its own, and something we in society are mostly undervaluing. We really suck at late stage life planning and discussions. I'm sorry for all the difficult times you've experienced so far and the hard times to come. It's a lot to give. Be sure to look for what benefits you/they quality for. Be sure to still spend time to ensure you stay mentally healthy as well.
  - kristianp 2mo ago
    The youngest boomers are 62 this year. Not many would have living parents. Are you referring to inheritance they may have gotten?
butlike 2mo ago
I don't know, that one doesn't seem as benign as your making it out to be. I would say if you're having your parents subsidize your phone bill you're still not technically living on your own.
- lattalayta 2mo ago
  Cell phone companies incentivize this, though. It's a better deal for both the parents and children (often 50%) with no difference in service
- anthonypasq 2mo ago
  theres plenty of people making 6 figures at 25 that still have their parents pay their phone bill because they get a family discount. i dont get your point
burningChrome 2mo ago
>> Still being on your parent's family phone plan doesnt mean youd be destitute if they werent helping you out. I think there's some important things like this that should be considered. In the late 90's early aughts, I didn't need a laptop, smartphone and 24/7 internet access with 1GB download speeds or half the technological stuff kids need these days to be a contributing member of society. Now those are all standard items for kids growing up. When I was in college in 2000, life was pretty easy. I paid $350/month for rent, cable, heat and landline phone. That was literally my entire financial costs for the month. Beer, going out to the bars, random things here and there? Easy to cover when you're making $10/hour working 35 hours a week. Now? Your basic needs will consistently run $1,500 for all of the stuff you need to function into today's society. Having your parents covering some of that in order for you to live on your own I think is not abnormal any more. As a Gen Xer, we had it really good. I've started to realize kids these days are put at a massive disadvantage because we require everything to be accessible via the internet and smartphones.
- PaulDavisThe1st 2mo ago
  > $350/month [ 2000 ] > $1500/month [ 2026 ] CPI inflation would suggest that the current cost ought to be about $692. So if it really costs $1500 to cover the things you've mentioned (noticeabley absent: student loans, health insurance, car payments) then either our society is deeply fucked or your list has changed or your estimates are wrong or your memory is wrong or all of the above.
  - iwontberude 2mo ago
    CPI is a bullshit number. CPI indexes Social Security COLAs, TIPS payouts, tax brackets, and federal pensions. Every 0.1% shaved off CPI saves the Treasury real money on its indexed obligations.
    - PaulDavisThe1st 2mo ago
      Please tell me more. It is acknowledged as not covering some costs that affect many people severely. But that does not by itself make it a bullshit number.
dclowd9901 2mo ago
Yet, with 37% of people being only a $400 surprise cost away from financial destitution, you might be completely wrong. https://www.investopedia.com/here-s-how-many-americans-can-t-afford-a-usd400-emergency-the-numbers-may-shock-you-11814788 https://www.investopedia.com/here-s-how-many-americans-can-t...
- Legend2440 2mo ago
  That's not what your linked article says. 37% of survey respondants say they would need to use a credit card to cover a $400 expense. They wouldn't be destitute, they just don't immediately have the cash. It also cites another study that put the number much lower, at 8%.
alphawhisky 2mo ago
I think that the vast majority of people who are "relying" on their parents for finances actually belong to the upper class. Family Feudalism has bred two consecutive generations of entitled shitheads, and these people are gonna have the wheel soon (if not already) in the US politically. This has concerning potential consequences.

I think the word "rely" is doing some heavy lifting here. Still being on your parent's family phone plan doesnt mean youd be destitute if they werent helping you out.

yesfitz 2mo ago

I went to the source[1] referenced by the article and found the exact question. It took about 90 seconds. "How financially independent you currently feel from your parents (meaning you could support yourself without them if needed)" 1: https://news.northwesternmutual.com/planning-and-progress-study-2026 https://news.northwesternmutual.com/planning-and-progress-st...

flumes_whims_ 2mo ago
According to that 17% of boomers+ are dependent on their parents. Just looking at boomers, that is around 70 on average. How many people that age even have parents still alive, let alone financially depend on them?
- pessimizer 2mo ago
  I'd speculate (based on a study I've recently been made aware of) about 17%.
- busterarm 2mo ago
  Boomers can be trust fund babies too.
  - vel0city 2mo ago
    Not only that, if you're a single boomer with a living parent and neither of you have much other incomes its probably better to cohabitate in that old family house that was paid off in the 90s and share what little benefits you both receive.
    - busterarm 2mo ago
      I think people also underestimate what a serious obligation this can be. I'm taking care of an elderly parent with dementia who cannot afford the care that they need. It costs me significant time and money. It has completely stalled my career. I'm not actually getting anything from them and it's worse than taking care of a newborn baby. It's interesting because I'm around the age where most of my peers are dealing with something like this and it's something I'd never heard talked about seriously even once my whole life. I was totally unprepared for it and it seems to be a thing that large numbers of people are quietly suffering with. It has given me a lot of empathy for people who I may have judged as underperformers, etc.
      - vel0city 2mo ago
        It's a story I've seen a lot. Proper care for those people in such situations is a hard full-time job on its own, and something we in society are mostly undervaluing. We really suck at late stage life planning and discussions. I'm sorry for all the difficult times you've experienced so far and the hard times to come. It's a lot to give. Be sure to look for what benefits you/they quality for. Be sure to still spend time to ensure you stay mentally healthy as well.
- kristianp 2mo ago
  The youngest boomers are 62 this year. Not many would have living parents. Are you referring to inheritance they may have gotten?

butlike 2mo ago

I don't know, that one doesn't seem as benign as your making it out to be. I would say if you're having your parents subsidize your phone bill you're still not technically living on your own.

lattalayta 2mo ago
Cell phone companies incentivize this, though. It's a better deal for both the parents and children (often 50%) with no difference in service
anthonypasq 2mo ago
theres plenty of people making 6 figures at 25 that still have their parents pay their phone bill because they get a family discount. i dont get your point

burningChrome 2mo ago

>> Still being on your parent's family phone plan doesnt mean youd be destitute if they werent helping you out. I think there's some important things like this that should be considered. In the late 90's early aughts, I didn't need a laptop, smartphone and 24/7 internet access with 1GB download speeds or half the technological stuff kids need these days to be a contributing member of society. Now those are all standard items for kids growing up. When I was in college in 2000, life was pretty easy. I paid $350/month for rent, cable, heat and landline phone. That was literally my entire financial costs for the month. Beer, going out to the bars, random things here and there? Easy to cover when you're making $10/hour working 35 hours a week. Now? Your basic needs will consistently run $1,500 for all of the stuff you need to function into today's society. Having your parents covering some of that in order for you to live on your own I think is not abnormal any more. As a Gen Xer, we had it really good. I've started to realize kids these days are put at a massive disadvantage because we require everything to be accessible via the internet and smartphones.

PaulDavisThe1st 2mo ago
> $350/month [ 2000 ] > $1500/month [ 2026 ] CPI inflation would suggest that the current cost ought to be about $692. So if it really costs $1500 to cover the things you've mentioned (noticeabley absent: student loans, health insurance, car payments) then either our society is deeply fucked or your list has changed or your estimates are wrong or your memory is wrong or all of the above.
- iwontberude 2mo ago
  CPI is a bullshit number. CPI indexes Social Security COLAs, TIPS payouts, tax brackets, and federal pensions. Every 0.1% shaved off CPI saves the Treasury real money on its indexed obligations.
  - PaulDavisThe1st 2mo ago
    Please tell me more. It is acknowledged as not covering some costs that affect many people severely. But that does not by itself make it a bullshit number.

dclowd9901 2mo ago

Yet, with 37% of people being only a $400 surprise cost away from financial destitution, you might be completely wrong. https://www.investopedia.com/here-s-how-many-americans-can-t-afford-a-usd400-emergency-the-numbers-may-shock-you-11814788 https://www.investopedia.com/here-s-how-many-americans-can-t...

Legend2440 2mo ago
That's not what your linked article says. 37% of survey respondants say they would need to use a credit card to cover a $400 expense. They wouldn't be destitute, they just don't immediately have the cash. It also cites another study that put the number much lower, at 8%.

alphawhisky 2mo ago

I think that the vast majority of people who are "relying" on their parents for finances actually belong to the upper class. Family Feudalism has bred two consecutive generations of entitled shitheads, and these people are gonna have the wheel soon (if not already) in the US politically. This has concerning potential consequences.