In depth this week: How financially independent are young adults?

David  May 26, 2014

ROB CARRICK
The Globe and Mail

Everyone has a theory on how today’s young adults are doing.

Members of Generation Y have been declared both better and substantially worse off than their parents. But maybe we’re missing the point. What really matters is whether young people are achieving financial independence in today’s economy. This is an important issue not only for young people themselves, but also for parents who may be supporting their kids long for much longer than expected.

For some insights on where young adults stand, we collaborated with the polling firm Abacus Data and yconic, which provides youth market research and operates StudentAwards.com. The result was a poll in which 1,538 people aged 15 to 33 were asked earlier this year about their hopes, plans and current financial reality.

Keep reading…http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/is-gen-y-financially-independent/article18805178/

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