Nearly Half of Gen Z in the US Depend on Parental Financial Support
High living costs and inflation hinder financial independence for young adults, Bank of America survey reveals.
- 46% of Gen Z adults receive financial help from parents or family members.
- 52% report insufficient income to achieve desired lifestyle.
- High housing costs force many to spend over 30% of their income on rent.
- 57% lack emergency savings to cover three months of expenses.
- Many young adults delay homeownership and retirement savings plans.
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