These days, it’s common for parents to give their adult children some financial support. But it wouldn’t take a lot to be considered independent.
About three-quarters, or 76%, of Americans say that coming off a parent’s cell phone plan is one of the “ultimate signs” of adulthood, according to a recent survey of over 2,000 adults by AT&T.
Roughly two-thirds, or 66%, of those polled also say they believe adult children should aim to reach this financial milestone by age 21. However, of those who pay their own cell phone bill, most waited until age 27 — and 18% didn’t start paying for their plan until age 40 or later, AT&T found.
Here’s a look at other stories affecting the financial advisor business.
It makes sense that paying for a cell phone plan would be a telling sign of financial freedom for many young adults, according to Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida.
