Gen Zers may be turning their tassels, flying the nest, and securing their first full-time jobs—but many are still bankrolled by mom and dad to stay afloat. Now, it’s leaving both the young generation and their parents feeling the squeeze.
Around 64% of parents with Gen Z children, aged 18 to 28, said their adult kids still rely on them for money, housing, or other financial support, according to a 2026 survey from Wells Fargo.
And their continued support has led to a money pinch, as 56% reported assisting their grown-up offspring is straining their own finances.
But despite assumptions Gen Zers are living outside their means, most parents aren’t stepping up to finance the lavish lives of their adult children.
Emily Irwin, head of private wealth planning at Wells Fargo, told Fortune earlier this year they’re actually helping cover essential living expenses rather than extravagant getaways and shopping sprees. Gen Zers are battling a sluggish entry-level job market, stagnating wages, and high cost-of-living while wanting to financially prepare for the future. And parents don’t want to wait until they pass down wealth at the end of their lives to step in.
