Even successful millennials are still relying on their parents for financial support and it’s not because they are lazy or unmotivated.
According to Sameer Aurora, the head of client strategy for UBS Wealth Management Americas, “They (millennials) came into adulthood during a very uncertain economic time, the financial crisis has cast a long shadow.” It is seen that most of the financial support that millennials are receiving go towards less glamorous expenses like health insurance, auto insurance, rent, and utilities.
Watch the video below to further explaination on why successful millennials are still leaning on their parents for financial support.
