millennials/money/adulthood

[notes1]

in a recent survey just released by merrill lynch, millennial's define being on their own, as a sign of reaching adulthood. but, according to the survey, 70% of those 18-34 still depend on their parents for money. this includes more the half, who are in their early 30's.

a quarter of all young adults have moved back home, while a third get help with rent or mortgage payments. more than a third of college graduates, paying off student loans, say the debt was not worth it. their parents are assisting them with everything from cell phone bills to groceries, and the majority of this group say they could not live their current lifestyle, without their parents financial help.

in seperate surveys, a significant percentage of parents report having their own retirement prospects negatively affected, by contributing to their adult children. and, there is the issue of adult children becoming ever more dependent on their parents.

if these surveys are true, i have questions. how did this happen? just stating excessive college debt is too easy an answer. how did a large group manage to delay becoming an adult? and, how is it, that a group that states being financially independent is crucial to becoming an adult, managed to become such a force in what is right/wrong, moral/immoral and socially acceptable. is their any wonder that a group, where so many are dependent upon others for their very existence, and has contributed little in the way of tax dollars (other than sales tax) to the greater good, would see capitalism as offensive, as opposed to socialism.

[olds442jetaway]

IMO.....part of the answer...being spoiled as a child and not having to work for anything, wanting the latest and the best of everything now, not learning how to fix anything or do for themselves. Not even knowing how to check the oil in the car. Not taking jobs or doing jobs that only foreigners or illegals will do, Broken homes, no discipline or respect taught at home, not being taught that if you want something you have to work for it. So few going into the trades. Heading off th college being the only way to go. So much more, but these came to mind. Oh I forgot. Credit cards. When I grew up they didn't exist. If you couldn’t afford it you didn’t get it period.

[onemoretry]

.... and the majority of this group say they could not live their current lifestyle, without their parents financial help.

And, unfortunately, it never seems to occur these spoiled, entitled brats, that, perhaps, they need to adjust their current lifestyle.

[JIMDUECE`SWILD]

How much did you pay for that tattoo ?????????

[doris13]

and they all need to drive either a mercedes or bmw

[notes1]

enjoyed the responses, but i am still searching for answers. if we accept that adulthood typically occurred between ages 18-22, how did the largest generation group manage to delay their entry by an additional decade? when and how did this happen? was there a vote i missed? changes like this typically take decades, but this seems to have happen over a short time period.

and further, if this same age group according to their own definition of adulthood has failed to achieve that status, how do they believe they are the arbiters of what is right/wrong, moral and immoral and demand changes in our financial system, to something as basic, changing from capitalism to socialism.

i am not so sure that if i was so dependent upon others for my existence, i would have the cahoonas to tell those very folks who are financially supporting me, what to do. this includes taxpayers who must pay for the changes they want, because millennial's have contributed little toward the federal tax system.

i support the one person=one vote concept, but sometimes i wonder. as the percentage of tax filers who actually pay any federal tax, has fallen to about 47% of those filing taxes, more and more of those who pay nothing, have they same vote, as those who must pay for those laws.

[case]

I think the parents are to blame. Parents smother their kids all through growing up. When I was young, a long time ago we all had jobs while going to school. Most kids today don't need a job while living at home because mommy and daddy look after their every need and want. Parents get what they sow.

[seemoreroyals]

I think the parents are to blame. Parents smother their kids all through growing up. When I was young, a long time ago we all had jobs while going to school. Most kids today don't need a job while living at home because mommy and daddy look after their every need and want. Parents get what they sow.

IMO this observation is spot on. Parents should raise their kids to become self sufficient. They should teach them the value of work and doing without unless you can afford it.

[olds442jetaway]

Our first family car did not happen until I was 6. My parents either walked, took the Trolly in Boston, the city bus, or in rare instances got a ride. The car was a 1948 Nash club coupe. Well worn too when dad got it from your typical shyster used car lot. Spent many hours with dad working on that car to keep it running. I learned a lot about how things work before I was even ten.

[billryan]

enjoyed the responses, but i am still searching for answers. if we accept that adulthood typically occurred between ages 18-22, how did the largest generation group manage to delay their entry by an additional decade? when and how did this happen? was there a vote i missed? changes like this typically take decades, but this seems to have happen over a short time period.

and further, if this same age group according to their own definition of adulthood has failed to achieve that status, how do they believe they are the arbiters of what is right/wrong, moral and immoral and demand changes in our financial system, to something as basic, changing from capitalism to socialism.

i am not so sure that if i was so dependent upon others for my existence, i would have the cahoonas to tell those very folks who are financially supporting me, what to do. this includes taxpayers who must pay for the changes they want, because millennial's have contributed little toward the federal tax system.

i support the one person=one vote concept, but sometimes i wonder. as the percentage of tax filers who actually pay any federal tax, has fallen to about 47% of those filing taxes, more and more of those who pay nothing, have they same vote, as those who must pay for those laws.

You seem to be confusing federal income tax with all federal taxes.
If someone who pays no income tax shouldn't have the same vote as a person who pays $10,000, should someone like Elon Musk get a hundred votes?
How about a kid who just turned 18 and is a full-time student? He can't vote but the minimum wage dropout serving him breakfast can?