Half of parents are paying their Gen Z and millennial adult children $1,474 a month—but they plan to pull the plug in the next two years because it's eating into retirement [Fortune]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Fortune
But they'll soon be forced to stand on their own feet as the banks of Mom and Dad are shutting down soon. Millennials may be pushing 40 now—but their parents are still shelling out to help them stay afloat. About 50% of parents financially support at least one of their adult children over the age of 18, according to a recent report from Savings. Working-age Gen Zers receive the most at an average of $1,813 monthly, while millennials get about $863. This spending has reached a three-year high, as inflation has put financial strain on workers of all ages. Gen Z are getting paid handsomely by their parents because they're early-career and have yet to establish livable income streams, the report notes, whereas millennials—aged 29 to 44—are
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BAC
Earnings
- 10/15/24 - Beat
BAC
Sec Filings
- 4/2/25 - Form FWP
- 4/2/25 - Form 424B2
- 4/1/25 - Form FWP
- BAC's page on the SEC website