The danger of financially dependent children

As many as 73 percent of parents with adult kids have given them money during the previous year, according to Time.

It’s one statistic that hints at the reality of young adults who remain financially dependent on parents. According to The Simple Dollar, this is defined as any child that requires constant financial support from their parent to maintain their lifestyle even if they aren’t currently living in the same house.

The situation becomes a financial hardship on parents who will have to work longer years to support themselves as they age.

One of the most common issues with adult children is that they fail to move out on their own, even after college. In fact, Business Insider points out that about 29 percent of 25- to 34-year-olds will move back in with their parents after graduation.

Living at home costs young adults, too. In Australia an estimated 25 percent of young adults aged 20 to 34 still live in the parental home. A household income study revealed that young adults who left home after age 25 earned $6,000 less per year than those who left home earlier, according to the Herald Sun.