Millennials still lean on parents for money but want financial independence, survey says

Most millennials define adulthood as being on their own financially, but the majority still depend on Mom and Dad for money, even in into 30s, according to a new Merrill Lynch/Age Wave survey given exclusively to USA TODAY.

Seven in 10 adults ages 18 to 34 received financial support from their parents in the last year, including more than half of those in their early 30s. Almost 3 in 5 millennials said they couldn’t afford their lifestyles without the support.

Janna Herron | USA TODAY

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