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Brian Lehrer: We will close the show with a call in about something that might be going on in your life, as we often do in our last 15 or 20 minutes. Today, it'll be calls from young adults, or parents of young adults. The question is-- Parents, do you have a child in their 20s or 30s right now? If so, are you helping them out financially in any sort of way? 212-433-WNYC. Maybe you still pay their phone bill or you help them with a portion of their rent.

Do they still text you asking for bank transfers when they've run through their paycheck at the end of the week? Perhaps even take them to the grocery store a few times a month? Parents of young adults, does this sound like you? 212-433-WNYC. Why do I ask? Because if so, you're not alone. Yesterday, Pure Research released a study reporting that only 45% of young adults, ages 18 to 34, are completely financially independent from their parents in this country. Only 45% independent in that 18 to 34 age group, less than half.

Of course, the level of support greatly varies among those age ranges. Among 18 to 24-year-olds, only 16% are financially independent, while 67%, up about two-thirds, of people in their early 30s say they're completely financially independent from their parents. While this variation is expected, it's noteworthy that even at age 30 to 34, a third still require cash for moms and dads to survive in the United States of 2024.

Listeners, are you a young adult, to invite, of course, the young adults, not just the parents of young adults into the conversation, who needs financial help from your parents to make ends meet? How often do your parents help you out? How much are they providing you? In what ways? I'm curious about the generational change here too. I think the overarching bottom line here is this generation is not doing as well as their parent's generation.

That's an American reality, wages compared to the cost of living. It's not surprising. Let's make a generational comparison here too. For those of you who are parents in this position calling in, and I realize, too, not everybody has enough money to have the privilege of helping to support their young adults, but maybe your parents did or didn't, and it's different in that respect. Make a generational comparison.

For the parents out there, how different is your support for your young adult kids, financially, from what your parents gave you? You think it's personal, only personal or family differences, or do you think it has to do with how the country and economics has changed? 212-433-WNYC. Yes, our lines are already full. We'll take your calls right after this.

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Brian Lehrer, on WNYC. All right. This is for parents who are helping to support your young adult children, or the young adult children who are being supported by your parents. I invited the parents first, and the line blew up with all parents. The lines blew up. If you are the young adult in this equation, text us at 212-433-WNYC. Do your parents know how to text? You can text us with your quick take on this.

We're watching our text messages incoming as well. 212-433-WNYC, 433-9692. We'll start with Emily, in the Bronx. Hi, Emily, you're on WNYC.

Emily: Hi, Brian. Good morning. Yes. I was telling your screener, my daughter is 28. She actually has two part-time jobs. She had been covered under her father's health insurance until she was 26. We decided, at that time, that she should continue on his plan, which we would then have to start paying for, instead of going to the state exchange for Obamacare. It's actually $950 a month. That's a huge amount of money. We had decided we wanted her to continue with the same coverage. I think it ends within the coming year.

Brian Lehrer: You mean you've made that decision to end the subsidy in the coming year?

Emily: No, you can only have Cobra for a person who is bumped off a plan, an employee's plan, I think there was an extension. I think normally, it's only two years, but it became three years.

Brian Lehrer: I see. It's an example of just how expensive health insurance is for a 28-year-old who, presumably, is considered in a low-risk category. because I don't think they're looking at her individual health, no matter what it may be, for a 28-year-old, $950 a month for health insurance. All right. Thank you for telling us that story. Probably, a whole bunch of people are in that category.

Your young adult turns 26, they can't be on your health insurance plan anymore, under the law. You're like, "Well, now what do we do? They're just getting by." How about Maryanne? You're on WNYC. Hi, Maryanne.

Maryanne: Oh, hi, Brian. Thank you for taking my call. I was telling your screener that I do believe it's generational. My son is 26, and still at home. We're up in Morningside Heights and we fully support him. He's in grad school and he is trying to get a job, actually has an interview today. I also work in real estate, and I don't foresee him moving out or having the income to support and pay for an apartment in the very near future.

Brian Lehrer: Maryanne, thank you very much. Here's a text that says, "I'm in my mid-30s, and the times my mother-in-laws have helped our family when I got into a terrible situation with a contractor surprise, and then, recently, my father-in-law decided to invest in both my husband and my companies because he believes so much in what we're doing, and our work ethic."

That is a wonderful way to support a child, in my opinion. That's a good one from someone in their mid-30s, and parents investing in their business, not just helping to pay the bills. How about Jay, in Somerset County? You're on WNYC. Hi, Jay.

Jay: Hey Brian. I have a different variation on this. This is-- My daughter is 17 now. When she was 13, I believe we were in the lockdown mode at that time, and we were planning, "Oh, we're going to move out of New Jersey. It's getting too expensive. We're going to stay here until kids are in college. Once they're done with college, we're going to move out of New Jersey." Well, my daughter, who's 17 now, she's going to graduate high school this year.

She was 13 at that time. She goes, really quietly, she goes, "After my bachelor's degree, I do want to pursue graduate school. Could I stay home and do it, because I know that I'm never going to be able to find a home or an apartment that I can afford? Can I stay home with you guys, go to school, work, and save money so that I can afford something later on in life?" That blew my mind. We changed our plans.

We're going to be in New Jersey for the foreseeable future to help them out, because if a 13-year-old is feeling this way, forget about the 30-year-olds. The teenagers are not feeling the pressure of the American dream, I guess.

Brian Lehrer: Right. Here's a text that you might relate to, raising the issue of what it costs to go to school. Listener asks, does paying for their student loans count as supporting them? If my kids had to pay their student loans, we would be supporting them now. Their income is not enough to support them fully. I think that listener might've meant is, paying for their tuition, does that count as supporting them?

If my kids had had to pay their student loans, we would be supporting them now. That's a big source of generational change. Go ahead, Jay.

Jay: Yes. We will be paying her college fees as well, so that she will, and my son will not have that debt when they graduate with a bachelor's degree.

Brian Lehrer: So far, nobody calling in or writing in. Seems to feel badly about this as a parent, like, "Oh, I'm setting a bad example of dependency here." Do you, at all?

Jay: Not at all. Not at all. I'm from India, and my parents are with us, and I feel like they took care of me. I have to take care of my kids, and it's my duty to give them a good foundation.

Brian Lehrer: Jay, thank you. Thank you so much. Yes. Here's Peter, in Mount Vernon, I think with a similar opinion on the opinion part of that. Hey, Peter.

Peter: Hi. How are you?

Brian Lehrer: Good. What you got?

Jay: Can you hear me, sir?

Brian Lehrer: I can hear you. Can you hear me?

Peter: Yes, yes, yes. Thank you very much for taking my call. I think, from my perspective, is that I think parents have a responsibility to help their children become independent and succeed in their lives. I'm a son of an immigrant. I'm an immigrant myself. My father had five children and he helped all of them get on their legs, and they move on and develop their own kind of life.

I will do, even though my daughter is already working, she's on her path, whatever it takes to make sure that she gets on her two feet. Considering all these-- The rents are so expensive, everything's expensive out there. Get on her two feet and then eventually, hopefully, move on and have her own life, with her own life.

Brian Lehrer: Peter, thank you, and I know your kid thanks you. Listener texts-- Where did it go? There it is. "Hi, Brian. I am 24, living alone in Queens. My mom has greatly subsidized my young adulthood by paying for my bachelor's degree," and there's that tuition and living during college question again, "She currently pays my phone bill every month." Seems minimal enough, right? Maybe this listener is just on the family cell phone plan, and it doesn't even cost that much.

Another listener writes, "My parents used to send money to help cover my bills when my small paychecks couldn't cover my expenses. In my mid-30s, I started feeling embarrassed to accept money, and finally had to move out of New York City, after 14 years." What a sad ending to that story. Right? It required moving out of the city to be able to be financially independent.

Putting some of the context on it, that I mentioned at the beginning of the segment, listener writes, "I think it's important to point out that Baby Boomers and Gen Xers, those are the parents, own 80% of the wealth in the country. Combine that with the fact that we are much better at taxing income, labor, and work, then we are taxing wealth. It's no wonder that the younger generation needs help." Kass, in Narrowsburg, is that where you are? Hi, Kass. You're on WNYC.

Kass: Yes. Hi, Brian.

Brian Lehrer: Four adult children, I see.

Kass: Yes, [laughs] and one granddaughter, who's sitting here, having some scrambled eggs with me. I like to think we've helped all of our children. One, we built a business for him, and he is running it now, and supporting himself largely, with a little help. The eldest son is fine. He's an engineer, he's married, he has children. Our daughter is managing fine. She's 33 and a soon-to-be single mother.

Brian Lehrer: As we run out of time. I guess you're saying everybody has a different story, because two needed subsidies and two didn't, right?

Kass: Yes. One, we pay for entirely everything. Rent, food.

Brian Lehrer: Your granddaughter makes a radio debut. What's her name?

Kass: Yes, she's making her debut again.

Brian Lehrer: [unintelligible 00:13:38] All right. Eat your eggs, dear. Eat your eggs. Eat your scrambled eggs. Kass, thanks for your call, and thanks to everybody who called in on this segment, interesting. That's The Brian Lehrer Show for today, produced by Mary Croke, Lisa Allison, Amina Srna, Carl Boisrond, and Esperanto Rosenbaum. Zach Gottehrer-Cohen produces our Daily Politics podcast. Milton Ruiz at the audio controls. Have a great weekend, everyone, and stay tuned for Alison.

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