{"id":718441,"date":"2026-06-22T02:57:12","date_gmt":"2026-06-22T02:57:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/718441\/"},"modified":"2026-06-22T02:57:12","modified_gmt":"2026-06-22T02:57:12","slug":"purse-strings-arent-quite-snipped-for-gen-x-millennials","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/718441\/","title":{"rendered":"Purse Strings Aren’t Quite Snipped for Gen X, Millennials"},"content":{"rendered":"


\n The older members of Gen X may be hovering around 60, but a significant chunk are still on the family payroll. New survey data<\/a> from Northwestern Mutual finds that a third of Gen Xers and more than half of millennials say they remain financially reliant on their parents; across all ages, 42% of adults report some dependence, per USA Today<\/a>. That includes 72% of Gen Z. The dynamic comes as boomers hold roughly half of US household wealth\u2014about $90 trillion\u2014and as an estimated $124 trillion is expected to be passed down from older generations to younger ones by 2048, a shift often dubbed the “Great Wealth Transfer.” \n <\/p>\n


\n That transfer, however, is neither guaranteed nor imminent. Americans are living longer and spending more on long-term care, and most people who do inherit don’t see that money until their late 50s or early 60s\u2014and fewer than 40% inherit at all, per a past analysis by the Washington Post<\/a>. Meanwhile, younger adults are contending with steeper obstacles: higher mortgage balances, larger student loans, and rising living costs. Pew Research reports that 44% of young adults had received help from parents in the past year, most commonly for groceries, utilities, and phone bills. More than a third of those parents say the support hurts their own finances, even as close to the same number worry their kids won’t become fully independent. \n <\/p>\n","protected":false},"excerpt":{"rendered":" The older members of Gen X may be hovering around 60, but a significant chunk are still…\n","protected":false},"author":2,"featured_media":718442,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,153,80525,22592,2065,6069,2066,147572,13952,40931,30333],"class_list":["post-718441","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-gen-z","tag-generation-x","tag-generation-z","tag-inheritance","tag-millennials","tag-money","tag-mortgage-debt","tag-parents","tag-pew-research-center","tag-student-debt"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/718441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=718441"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/718441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/718442"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=718441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=718441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=718441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}