Many Millennials work hard, but others feel left behind — saddled with too much debt and too few opportunities — part of "generation stuck."
In a recent piece in The Atlantic, Randye Hoder wrote about the struggles of her own 22-year-old daughter. She works 30 hours a week at a magazine, but gets a big monthly handout from her parents to help her make ends meet.
And, she's not alone. According to one study, today's 25-year-olds are 50 percent more likely to receive financial help from mom and dad than a generation ago.
- "What would your child’s life look like if you took away that monthly stipend or stopped paying her student loans? Would she go hungry? Or would she learn how to budget in order to accommodate a lifestyle she can afford on her own? I also wonder when the cut-off for financial assistance is. This kind of enabling can be a hard habit to break."
- "What is most important is not that someone fresh out of school, or even a few years out of school, has achieved financial independence. What matters is that they are on the path to independence. If our daughter was at home all day, goofing around, my husband and I would be far less inclined to lend a hand. But the job that Emma now has—one that we’re enabling with our support—promises to give her valuable experience in a field she’s interested in."
This segment aired on October 29, 2014.