I graduated college last year and ever since I’ve been living at home. Since my father doesn’t require me to pay for rent or groceries, this time living at home has allowed me to grow my savings. For this reason, I understand why living at home can be the best option. But even I was shocked that grown sons and daughters need vastly different levels of financial support from parents.
Sons need much more support than daughters. Why?
According to a survey by Harris Poll and Yodlee Interactive, men are more likely to live with parents and receive financial support. I have many friends in their 20s, both men and women who are living at home, so I did not find this fact that alarming. That was until I realized this survey was sampling people between the ages of 35 to 44.
Here are the most shocking statistics.
- Only 31 percent of women with living parents/in-laws receive financial support from them, compared to 41 percent of men.
- Women (25 percent) are less likely than men (32 percent) to live with their parents/in-laws, based on all U.S. adults with living parents/in-laws.
- Almost twice as many men (20 percent) say they do not plan to support their parents emotionally (e.g., calling them, visiting them) as do women (12 percent), based on all applicable responses.
- Men are more than twice as likely as females ages 35-44 to receive financial support from their parents, based on all U.S. adults with living parents/in-laws.
- Men are more than three times as likely as their female counterparts to live at home with their parents.
- Meny are also almost twice as likely to cite being unemployed or underemployed as the reason they live with their parents, while women ages 35-44 are more than twice as likely to cite because they’re taking care of their parents
In my experience, the women in my family have cared more for their parents. When my mother passed away three years ago, my sister and I took on the majority of responsibility caring for our grandmother. While my mother had two brothers, they rarely take care of my grandmother. For this reason, I wasn’t surprised that men are less likely to visit as often or be caregivers.
I have seen the other side of this however, as my father call his parents almost daily and visits them weekly, if not more often. Since his sister lives an hour away in Boston, he provides the majority of their care. Alternately, he did live at home with his parents until he got married at 31!
While in my family it is not rare for children in their 20s to live at home, in fact it is encouraged to live at home until you are married, right now I don’t have any family members who are over 30 and live with their parents. While my father helps me a great deal and I’m very lucky, I have no desire to remain reliant on him for financial support when I have my own family. I feel that being financially independent as an adult is a must. What do you think?