Why The Youth of America Are Delaying Financial Independence: A Visual Guide

COMING OF AGE WHY YOUNG AMERICANS ARE DELAYING FINANCIAL INDEPENDENCE A recent Pew study reveals some gloomy facts about the current economic status of the youth of America, which has lead to the delay of financial independence. Although marred by a lack of jobs and income-requiring them to live with their parents a bit longer-young folks are surprisingly optimistic about their future. We examine the current economic and employment landscape for our young friends, and find out how they are responding with honor. DELAYED ADULTHOOD: JUST THE FACTS Financial independence right out of college is a relic of the past. Today, far fewer parents say their children should be financially independent at 22 than they did in 1993. Here are the reasons why children are staying at home a bit longer: Percent of parents who say children have to be financially independent by the following age: Percent of youth who think they should be financially independent by the following age: 2011 Age 18-34 22 or younger 67% 22 or younger 66% 25 or older 31% 25 or older 32% 1993 Age 50+ 22 or younger 80% 22 or younger 44% 25 or olde 19% 25 or older 53% Younger people are putting more pressure on themselves to be financially independent than the older generation. JOBS ARE HARD TO COME BY Employment is a big problem for the 18-24 age group. Percent of Percent of 16.3% people age 18-24 UNĖMPLOYED people age 18-24 who were 54.3% EMPLOYED in 2011 in 2011 THE RECESSION HAS TAKEN ITS TOLL Americans age 18-34 say they have been forced to make the following decisions because of the recession: Taken a job just to pay the bills 49% Gone back to school 35% Taken an unpaid job 24% Moved back in with parents 24% Postponed having a baby 22% Postponed getting married 20% (Percent who say they have done each in recent years because of the recession) 2004 50% Percent of Americans age 18-34 who would rate their personal financial situation as "good": 2011 33% YOUTHFUL OPTIMISM WINNING Despite the overwhelming amount of negative data, younger people are extremely optimistic about the future. PERCENT OF THOSE AGE 18-34 WHO SAY THEY: 57% 31% 9% Don't earn/have enough now, but Don't earn/have enough now, Earn/ have enough now will in the future and won't in the future The percent of employed people age 18-34 who say they don't earn enough to be able to lead the life they want has actually decreased since 1996–even though all indicators point to an increased struggle for this age group Percent of employed people age 18-34 who say they don't earn enough to lead the life they want: However, those in this age group who are unemployed are less optimistic: 80 percent say they don't earn enough to be 1996 2011 80% 66% 62% able to lead the life they want. A GENERATIONAL OPTIMISM Young adults are also optimistic about their children's future. Better O |60% When your child is the same age you are now, how will their standard of living Same O 21% compare to your current state? Worse O 14% It seems to be all rain clouds these days, but it's apparent that the younger people in the U.S. today are able to see the silver lining. If it's true that optimism breeds success, the hope of the younger generations is crucial to the well-being of our world. mint.com SOURCE: WWW.PEWSOCIALTRENDS.ORG COMING OF AGE WHY YOUNG AMERICANS ARE DELAYING FINANCIAL INDEPENDENCE A recent Pew study reveals some gloomy facts about the current economic status of the youth of America, which has lead to the delay of financial independence. Although marred by a lack of jobs and income-requiring them to live with their parents a bit longer-young folks are surprisingly optimistic about their future. We examine the current economic and employment landscape for our young friends, and find out how they are responding with honor. DELAYED ADULTHOOD: JUST THE FACTS Financial independence right out of college is a relic of the past. Today, far fewer parents say their children should be financially independent at 22 than they did in 1993. Here are the reasons why children are staying at home a bit longer: Percent of parents who say children have to be financially independent by the following age: Percent of youth who think they should be financially independent by the following age: 2011 Age 18-34 22 or younger 67% 22 or younger 66% 25 or older 31% 25 or older 32% 1993 Age 50+ 22 or younger 80% 22 or younger 44% 25 or olde 19% 25 or older 53% Younger people are putting more pressure on themselves to be financially independent than the older generation. JOBS ARE HARD TO COME BY Employment is a big problem for the 18-24 age group. Percent of Percent of 16.3% people age 18-24 UNĖMPLOYED people age 18-24 who were 54.3% EMPLOYED in 2011 in 2011 THE RECESSION HAS TAKEN ITS TOLL Americans age 18-34 say they have been forced to make the following decisions because of the recession: Taken a job just to pay the bills 49% Gone back to school 35% Taken an unpaid job 24% Moved back in with parents 24% Postponed having a baby 22% Postponed getting married 20% (Percent who say they have done each in recent years because of the recession) 2004 50% Percent of Americans age 18-34 who would rate their personal financial situation as "good": 2011 33% YOUTHFUL OPTIMISM WINNING Despite the overwhelming amount of negative data, younger people are extremely optimistic about the future. PERCENT OF THOSE AGE 18-34 WHO SAY THEY: 57% 31% 9% Don't earn/have enough now, but Don't earn/have enough now, Earn/ have enough now will in the future and won't in the future The percent of employed people age 18-34 who say they don't earn enough to be able to lead the life they want has actually decreased since 1996–even though all indicators point to an increased struggle for this age group Percent of employed people age 18-34 who say they don't earn enough to lead the life they want: However, those in this age group who are unemployed are less optimistic: 80 percent say they don't earn enough to be 1996 2011 80% 66% 62% able to lead the life they want. A GENERATIONAL OPTIMISM Young adults are also optimistic about their children's future. Better O |60% When your child is the same age you are now, how will their standard of living Same O 21% compare to your current state? Worse O 14% It seems to be all rain clouds these days, but it's apparent that the younger people in the U.S. today are able to see the silver lining. If it's true that optimism breeds success, the hope of the younger generations is crucial to the well-being of our world. mint.com SOURCE: WWW.PEWSOCIALTRENDS.ORG 0000 COMING OF AGE WHY YOUNG AMERICANS ARE DELAYING FINANCIAL INDEPENDENCE A recent Pew study reveals some gloomy facts about the current economic status of the youth of America, which has lead to the delay of financial independence. Although marred by a lack of jobs and income-requiring them to live with their parents a bit longer-young folks are surprisingly optimistic about their future. We examine the current economic and employment landscape for our young friends, and find out how they are responding with honor. DELAYED ADULTHOOD: JUST THE FACTS Financial independence right out of college is a relic of the past. Today, far fewer parents say their children should be financially independent at 22 than they did in 1993. Here are the reasons why children are staying at home a bit longer: Percent of parents who say children have to be financially independent by the following age: Percent of youth who think they should be financially independent by the following age: 2011 Age 18-34 22 or younger 67% 22 or younger 66% 25 or older 31% 25 or older 32% 1993 Age 50+ 22 or younger 80% 22 or younger 44% 25 or olde 19% 25 or older 53% Younger people are putting more pressure on themselves to be financially independent than the older generation. JOBS ARE HARD TO COME BY Employment is a big problem for the 18-24 age group. Percent of Percent of 16.3% people age 18-24 UNĖMPLOYED people age 18-24 who were 54.3% EMPLOYED in 2011 in 2011 THE RECESSION HAS TAKEN ITS TOLL Americans age 18-34 say they have been forced to make the following decisions because of the recession: Taken a job just to pay the bills 49% Gone back to school 35% Taken an unpaid job 24% Moved back in with parents 24% Postponed having a baby 22% Postponed getting married 20% (Percent who say they have done each in recent years because of the recession) 2004 50% Percent of Americans age 18-34 who would rate their personal financial situation as "good": 2011 33% YOUTHFUL OPTIMISM WINNING Despite the overwhelming amount of negative data, younger people are extremely optimistic about the future. PERCENT OF THOSE AGE 18-34 WHO SAY THEY: 57% 31% 9% Don't earn/have enough now, but Don't earn/have enough now, Earn/ have enough now will in the future and won't in the future The percent of employed people age 18-34 who say they don't earn enough to be able to lead the life they want has actually decreased since 1996–even though all indicators point to an increased struggle for this age group Percent of employed people age 18-34 who say they don't earn enough to lead the life they want: However, those in this age group who are unemployed are less optimistic: 80 percent say they don't earn enough to be 1996 2011 80% 66% 62% able to lead the life they want. A GENERATIONAL OPTIMISM Young adults are also optimistic about their children's future. Better O |60% When your child is the same age you are now, how will their standard of living Same O 21% compare to your current state? Worse O 14% It seems to be all rain clouds these days, but it's apparent that the younger people in the U.S. today are able to see the silver lining. If it's true that optimism breeds success, the hope of the younger generations is crucial to the well-being of our world. mint.com SOURCE: WWW.PEWSOCIALTRENDS.ORG 0000 COMING OF AGE WHY YOUNG AMERICANS ARE DELAYING FINANCIAL INDEPENDENCE A recent Pew study reveals some gloomy facts about the current economic status of the youth of America, which has lead to the delay of financial independence. Although marred by a lack of jobs and income-requiring them to live with their parents a bit longer-young folks are surprisingly optimistic about their future. We examine the current economic and employment landscape for our young friends, and find out how they are responding with honor. DELAYED ADULTHOOD: JUST THE FACTS Financial independence right out of college is a relic of the past. Today, far fewer parents say their children should be financially independent at 22 than they did in 1993. Here are the reasons why children are staying at home a bit longer: Percent of parents who say children have to be financially independent by the following age: Percent of youth who think they should be financially independent by the following age: 2011 Age 18-34 22 or younger 67% 22 or younger 66% 25 or older 31% 25 or older 32% 1993 Age 50+ 22 or younger 80% 22 or younger 44% 25 or olde 19% 25 or older 53% Younger people are putting more pressure on themselves to be financially independent than the older generation. JOBS ARE HARD TO COME BY Employment is a big problem for the 18-24 age group. Percent of Percent of 16.3% people age 18-24 UNĖMPLOYED people age 18-24 who were 54.3% EMPLOYED in 2011 in 2011 THE RECESSION HAS TAKEN ITS TOLL Americans age 18-34 say they have been forced to make the following decisions because of the recession: Taken a job just to pay the bills 49% Gone back to school 35% Taken an unpaid job 24% Moved back in with parents 24% Postponed having a baby 22% Postponed getting married 20% (Percent who say they have done each in recent years because of the recession) 2004 50% Percent of Americans age 18-34 who would rate their personal financial situation as "good": 2011 33% YOUTHFUL OPTIMISM WINNING Despite the overwhelming amount of negative data, younger people are extremely optimistic about the future. PERCENT OF THOSE AGE 18-34 WHO SAY THEY: 57% 31% 9% Don't earn/have enough now, but Don't earn/have enough now, Earn/ have enough now will in the future and won't in the future The percent of employed people age 18-34 who say they don't earn enough to be able to lead the life they want has actually decreased since 1996–even though all indicators point to an increased struggle for this age group Percent of employed people age 18-34 who say they don't earn enough to lead the life they want: However, those in this age group who are unemployed are less optimistic: 80 percent say they don't earn enough to be 1996 2011 80% 66% 62% able to lead the life they want. A GENERATIONAL OPTIMISM Young adults are also optimistic about their children's future. Better O |60% When your child is the same age you are now, how will their standard of living Same O 21% compare to your current state? Worse O 14% It seems to be all rain clouds these days, but it's apparent that the younger people in the U.S. today are able to see the silver lining. If it's true that optimism breeds success, the hope of the younger generations is crucial to the well-being of our world. mint.com SOURCE: WWW.PEWSOCIALTRENDS.ORG 0000 COMING OF AGE WHY YOUNG AMERICANS ARE DELAYING FINANCIAL INDEPENDENCE A recent Pew study reveals some gloomy facts about the current economic status of the youth of America, which has lead to the delay of financial independence. Although marred by a lack of jobs and income-requiring them to live with their parents a bit longer-young folks are surprisingly optimistic about their future. We examine the current economic and employment landscape for our young friends, and find out how they are responding with honor. DELAYED ADULTHOOD: JUST THE FACTS Financial independence right out of college is a relic of the past. Today, far fewer parents say their children should be financially independent at 22 than they did in 1993. Here are the reasons why children are staying at home a bit longer: Percent of parents who say children have to be financially independent by the following age: Percent of youth who think they should be financially independent by the following age: 2011 Age 18-34 22 or younger 67% 22 or younger 66% 25 or older 31% 25 or older 32% 1993 Age 50+ 22 or younger 80% 22 or younger 44% 25 or olde 19% 25 or older 53% Younger people are putting more pressure on themselves to be financially independent than the older generation. JOBS ARE HARD TO COME BY Employment is a big problem for the 18-24 age group. Percent of Percent of 16.3% people age 18-24 UNĖMPLOYED people age 18-24 who were 54.3% EMPLOYED in 2011 in 2011 THE RECESSION HAS TAKEN ITS TOLL Americans age 18-34 say they have been forced to make the following decisions because of the recession: Taken a job just to pay the bills 49% Gone back to school 35% Taken an unpaid job 24% Moved back in with parents 24% Postponed having a baby 22% Postponed getting married 20% (Percent who say they have done each in recent years because of the recession) 2004 50% Percent of Americans age 18-34 who would rate their personal financial situation as "good": 2011 33% YOUTHFUL OPTIMISM WINNING Despite the overwhelming amount of negative data, younger people are extremely optimistic about the future. PERCENT OF THOSE AGE 18-34 WHO SAY THEY: 57% 31% 9% Don't earn/have enough now, but Don't earn/have enough now, Earn/ have enough now will in the future and won't in the future The percent of employed people age 18-34 who say they don't earn enough to be able to lead the life they want has actually decreased since 1996–even though all indicators point to an increased struggle for this age group Percent of employed people age 18-34 who say they don't earn enough to lead the life they want: However, those in this age group who are unemployed are less optimistic: 80 percent say they don't earn enough to be 1996 2011 80% 66% 62% able to lead the life they want. A GENERATIONAL OPTIMISM Young adults are also optimistic about their children's future. Better O |60% When your child is the same age you are now, how will their standard of living Same O 21% compare to your current state? Worse O 14% It seems to be all rain clouds these days, but it's apparent that the younger people in the U.S. today are able to see the silver lining. If it's true that optimism breeds success, the hope of the younger generations is crucial to the well-being of our world. mint.com SOURCE: WWW.PEWSOCIALTRENDS.ORG 0000 COMING OF AGE WHY YOUNG AMERICANS ARE DELAYING FINANCIAL INDEPENDENCE A recent Pew study reveals some gloomy facts about the current economic status of the youth of America, which has lead to the delay of financial independence. Although marred by a lack of jobs and income-requiring them to live with their parents a bit longer-young folks are surprisingly optimistic about their future. We examine the current economic and employment landscape for our young friends, and find out how they are responding with honor. DELAYED ADULTHOOD: JUST THE FACTS Financial independence right out of college is a relic of the past. Today, far fewer parents say their children should be financially independent at 22 than they did in 1993. Here are the reasons why children are staying at home a bit longer: Percent of parents who say children have to be financially independent by the following age: Percent of youth who think they should be financially independent by the following age: 2011 Age 18-34 22 or younger 67% 22 or younger 66% 25 or older 31% 25 or older 32% 1993 Age 50+ 22 or younger 80% 22 or younger 44% 25 or olde 19% 25 or older 53% Younger people are putting more pressure on themselves to be financially independent than the older generation. JOBS ARE HARD TO COME BY Employment is a big problem for the 18-24 age group. Percent of Percent of 16.3% people age 18-24 UNĖMPLOYED people age 18-24 who were 54.3% EMPLOYED in 2011 in 2011 THE RECESSION HAS TAKEN ITS TOLL Americans age 18-34 say they have been forced to make the following decisions because of the recession: Taken a job just to pay the bills 49% Gone back to school 35% Taken an unpaid job 24% Moved back in with parents 24% Postponed having a baby 22% Postponed getting married 20% (Percent who say they have done each in recent years because of the recession) 2004 50% Percent of Americans age 18-34 who would rate their personal financial situation as "good": 2011 33% YOUTHFUL OPTIMISM WINNING Despite the overwhelming amount of negative data, younger people are extremely optimistic about the future. PERCENT OF THOSE AGE 18-34 WHO SAY THEY: 57% 31% 9% Don't earn/have enough now, but Don't earn/have enough now, Earn/ have enough now will in the future and won't in the future The percent of employed people age 18-34 who say they don't earn enough to be able to lead the life they want has actually decreased since 1996–even though all indicators point to an increased struggle for this age group Percent of employed people age 18-34 who say they don't earn enough to lead the life they want: However, those in this age group who are unemployed are less optimistic: 80 percent say they don't earn enough to be 1996 2011 80% 66% 62% able to lead the life they want. A GENERATIONAL OPTIMISM Young adults are also optimistic about their children's future. Better O |60% When your child is the same age you are now, how will their standard of living Same O 21% compare to your current state? Worse O 14% It seems to be all rain clouds these days, but it's apparent that the younger people in the U.S. today are able to see the silver lining. If it's true that optimism breeds success, the hope of the younger generations is crucial to the well-being of our world. mint.com SOURCE: WWW.PEWSOCIALTRENDS.ORG 0000