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Almost half of Americans depend on parents for finances
Reports have shown that 42% of Americans are financially dependent on their parents to meet their living expenses, due to ongoing inflation and market fluctuations. It is believed by 20% of them that they will never achieve financial independence, with financial support from different generations continuing—especially Generation X, 33% of whom still receive assistance from their parents despite approaching retirement. The rising costs of living, particularly in housing and education, are leading to increased expenses and the depletion of family savings.
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