A study commissioned by Clark University (Mass.) shows adult children, ages 18 to 29, may lose their maturing cycle due to the financial crisis. Furthermore, these young adults are deprived of personal independence and pride. According to the findings, 52% of young adults have contact with their parents daily or almost daily. “Accepting responsibility for oneself” was one key attribute that 36% of young adults associated with maturity. Another 34% of young adults wish their parents were less involved in their lives.
A University of Michigan study concluded that over 62% of adult children receive financial help from their parents, at an average total of $12,185 per young adult. More than 22% of parents assist their adult children in other financial ways, including paying bills or rent.
Dr. Green has done extensive research on cultural issues impacting today’s leaders. His last book, Job Strategies for the 21st Century, has been rated number one on Amazon.com. Dr. Green notes, “Giving an individual financial assistance without any accountability creates an onslaught of issues. It further commits the parents, and it robs the adult child of his or her independence.”
Some adult children only need temporary help, while others feel they are entitled to their parents’ financial support indefinitely. Dr. Green argues for parents making the hard decision of setting financial limits on their adult children. This process will allow young adults to deal with their own financial situations, even if it means hitting the proverbial “rock bottom.” Dr. Green states, “Some parents are prolonging their children’s natural process toward adulthood with enablers. There are always unintended and unforeseen consequences to be handled.” Dr. Green suggests that parents set their expectations up-front with adult children to avoid miscommunications.
Job Strategies for the 21st Century is available online at Amazon.com and other book retailers. You can also view the book trailer on Youtube.com at http://www.youtube.com/
About the Author
Dr. Daryl Green is a management strategist and nationally-recognized author noted in major media outlets, including USA Today, Associated Press, Ebony, and BET. He is an adjunct professor at Lincoln Memorial University and a former faculty member at Knoxville College. Dr. Green has spent more than 20 years assisting organizations and individuals with making good decisions.