More than half of Millennials are not fully financially independent from their parents, with the average American now expecting to achieve financial independence at age 37, according to the 2026 Planning & Progress Study by Northwestern Mutual. The research highlights that 53% of this generation relies on parental support, driven by economic factors such as record housing costs and high student loan debt. The study, conducted by The Harris Poll among 4,375 U.S. adults, underscores a significant shift in financial milestones for young adults.

Barriers to Financial Independence

The study identifies three primary obstacles preventing Millennials from achieving financial autonomy. Housing and rent prices have outpaced income growth, making independent living increasingly difficult. Consequently, 74% of parents with children at home are considering or have already started planning to provide financial support to help their children move out.

Record-high student loan balances are also dragging financial momentum, consuming income and stalling savings. This debt burden tethers many young adults to their families long after graduation. Furthermore, a confidence gap persists, with 53% of Millennials feeling behind financially despite earning more than previous generations.

Financial Preparedness Gaps

The data reveals significant gaps in financial preparedness among Millennials. Nearly half (43%) lack a retirement account, while 66% do not have an emergency fund. Additionally, 31% of Millennials do not have a savings account at all. These statistics illustrate a broader trend of financial insecurity within the generation.

Impact on Parents

While parental support is common, the financial stakes for parents are real. Jeff Sippel, chief strategy officer at Northwestern Mutual, emphasized the need for a comprehensive plan to achieve financial independence. "True financial independence starts with a comprehensive plan that moves people out of the passenger seat and firmly behind the wheel of their own financial destiny," Sippel said. The study suggests that parental generosity without clear boundaries can erode long-term financial security, necessitating a balance between supporting children and protecting parents' futures.

The 2026 Planning & Progress Study was conducted online between January 5 and January 21, 2026. Data were weighted by age, gender, race/ethnicity, region, education, marital status, household size, household income, and propensity to be online to align with actual population proportions.

Vice President JD Vance stated that the United States and Israel do not always share aligned interests, underscoring reported strains between President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. In a snippet released on Wednesday for a "CBS Sunday Morning" interview scheduled to air on June 14, Vance acknowledged that although Israel remains a steadfast ally, their interests are "misaligned" many times. He emphasized that the US will persist in its collaboration with Israel but will prioritize its own national interests when they diverge.

Vance described Netanyahu as a leader who "assertively champions the interests of his nation" and noted that Trump has been explicit about what serves America's best interest. "Sometimes that means we’re in agreement and sometimes it means that we’re not," Vance stated. When questioned about Netanyahu’s stance towards the US on Iran, Vance conceded that the Prime Minister has made some missteps, though he refrained from providing specific details. "He’s certainly gotten some things wrong," said Vance.

The comments from Vance arrive after Netanyahu's Likud party confirmed his re-election bid. The party expects the Prime Minister to win, though the vote has not yet been officially scheduled and must be held by October. Meanwhile, ABC News' Jonathan Karl reported that Trump said he was unsure whether Netanyahu would seek another term, calling his career "amazing" and questioning whether he would continue.

Earlier this month, Trump confirmed that he told Netanyahu he was "effing crazy" during a call over Israel's continued strikes in Lebanon, which frustrated US efforts to de-escalate the conflict. Trump stated he was only "a little bit perturbed," not angry, and that he maintains a strong relationship with the Israeli Prime Minister, urging him to "stop this" fighting. Notably, Israel and Lebanon agreed to a US-brokered ceasefire soon after.

However, despite Trump’s repeated efforts to stop Netanyahu from escalating the conflict, Israel struck a petrochemical facility in Iran on Monday. This marked the first attack on the country's energy infrastructure since the April ceasefire. The strike occurred despite the prior agreement to halt hostilities.