Nearly 50% of US parents financially supporting adult children, study finds

Soaring costs of food and housing forcing many to still rely on parents to cover expenses, as they risk retirement security

Nearly half of US parents provide some kind of financial support to their adult children, who are grappling with higher food and living costs than they did, a new study has found.

The study – conducted by Savings.com – found that young, working-class Americans were not substantially benefiting from the recovery of the country’s economy, as “evidenced by high employment, falling inflation, and economic growth”. That has forced many of them to continue to rely on their parents to help cover costs of living.