Gen X is turning 60 why the MTV generation is still relying on parents for money, support

Generation X is officially turning 60, and the eldest members of the “MTV Generation” are creeping ever closer to their own retirement years. Yet, if you look at the latest economic data, a striking number of these 46- to 60-year-olds are still tied to their parents’ financial apron strings.According to Northwestern Mutual’s 2026 Planning & Progress Study, a stunning 33% of Gen Xers confess to being financially dependent on Mom and Dad, with 22% of them believing they will never achieve true financial independence.So many in this position point directly to homeownership as an unattainable goal, but if you look a little closer at the real estate market, a fascinating narrative emerges proving them quite wrong.According to Northwestern Mutual’s findings, 42% of all adults surveyed said they feel financially dependent on their parents.Among those 33% Gen Xers who are currently financially dependent on their folks, only 51% are confident they will become financially independent someday.“For a generation that is largely in its peak earning years and often juggling careers, homeownership, children, and aging parents, those numbers are striking,” admits David Hood, CFP, CLU, ChFC, RICP, CAP, partner and wealth management adviser at Artistry Wealth Management, a Northwestern Mutual Private Client Group.He notes that this generation, like millennials, has found it difficult to define financial independence as a “milestone” because the journey has been so “disrupted.”“Many Gen Xers have lived through multiple economic downturns, market corrections, and periods of rising costs.On top of that, a disability, illness, layoff, loss of a spouse, or long-term care event can quickly derail even the best-laid plans.”Perhaps because of this, 59% believe achieving financial independence is harder today than it was for previous generations.This pessimism is particularly pronounced when asked about housing.

Among Gen Xers who do not currently own a h...