11/15/2013
Some 21.6 million millennials ages 18-31 live at home with their parents. And only 10% pay rent, according to Securian Financial Group. Almost one in 10 say their parents ask for no compensation (8%) or set a deadline for moving out (9%).
These free renters say they assist their parents in other matters. More than eight in 10 (82%) say they help with household chores, and 49% contribute to household expenses.
Nearly half of these millennials living at home (45%) say their living there has no financial impact on their parents’ finances, and 44% say they are unsure of the impact.
Seven in 10 of these millennials (70%) say they would house their parents if they were unable to live in their own homes, and another 21% also say yes, though they want their parents to explore other options first.
SOURCE: Securian Financial Group, Maggie Jensen, Securian Center, 401 Robert St., N., St. Paul, MN 55101; 651-665-7558; margaret.jensen@securian.com; www.securian.com.
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