Northwestern Mutual study finds average Americans expect financial independence nearly two decades after high school graduation.
The average American now expects to achieve financial independence at age 37, a delay of roughly 20 years from high school graduation, according to a recent study. Rising living costs and economic pressures are cited as key factors behind the trend.
Millennials and Gen Z face the greatest challenges, with 53% and 72% respectively still relying on parental support. Even older generations report struggles, as 22% of Gen X and Baby Boomers do not expect to achieve financial independence at all.
A viral social media trend called ‘moneymaxxing’ has emerged, promoting strategies to maximize every dollar. The approach aims to help individuals accelerate financial stability amid persistent economic headwinds.