Report: Millennials Relying Heavily on the ‘Bank of Mom and Dad’

Money Talk News reports:

Many millennials seem to have a difficult time cutting the cord with their folks, especially when it comes to money.

According to the new Bank of America/USA Today Better Money Habits Millennial Report, 40 percent of millennials get financial help from their parents, including 22 percent of 30-34-year-olds, and 20 percent of millennials who are married or living with a partner. A Bank of America press release said:

Many millennials and parents think millennials’ financial hurdles – from buying a house to saving for retirement – are more difficult than those faced by the previous generation.

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