70% Of Millennials Rely On Parents To Stay Afloat Financially, Survey Finds
PHILADELPHIA (CBS) -- According to a new survey, nearly three quarters of all millennials are relying on their parents to stay afloat financially. Merrill Lynch found that 70% of adults ages 18 to 34 received financial help from their parents last year.
Student loan debt is one of the biggest reasons -- on average, $28,000 per student.
The survey also found almost 60 percent of millennials say they can't afford their lifestyles without their parents' help.
1 In 3 Millennials Say Their Life Is More Stressful Than The Average Person's, Study Finds
According to Merrill Lynch, women become financially independent faster than men the same age.
