While millennials are less likely to live on their own today than they were during the Great Recession, there comes an age when young millennials say it’s just plain embarrassing to still live with their parents, according to a new survey.
For the 15-minute online “Young Money Survey,” analysts at brokerage company TD Ameritrade looked to 2,001 young Americans between the ages 13 and 26 for some answers.
Young millennials (ages 20 to 26) on average said they would be embarrassed to still live their parents at age 28.
And only 5 percent of young millennials thought they should move out by the time they’re 20 years old.
But teenagers (ages 13-19), on the other hand, considered age 26 the limit.
The survey, conducted in March 2017, also found almost half (47 percent) of young millennials ages 20 to 26 didn’t or don’t expect to move back in with their parents after college.
But 48 percent of post-college young millennials did indeed move back in with their folks after college, possibly due to high student debt.
According to TD Ameritrade, young millennials on average hold $10,205 in student debt, which they expect to pay off by age 35.
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