Millennials expect financial independence by age 27
43% still rely on their parents for financial assistance
Being the father of a Millennial who is half-way launched into the working world, I’m all for Gen Yers becoming financially independent from the Bank of Mum and Dad.
Yconic surveyed 1,538 English-speaking Canadians between the ages of 15 and 33, seeking their views on the future, home ownership and yes, financial independence (well a version of it anyway). Not surprisingly, Millennials want pretty much what the Baby Boomers do and I dare say any generation before them or still to come. That includes marriage and kids, house and car. However, Millennials seem ambivalent about bearing children of their own: 9% planned not to have any while another 13% weren’t sure.