“Third of Gen Xers, Half of Millennials Rely on Parents Financially: Study” featuring Ami Doshi
When Financial Support Becomes ‘Invisible’: Rethinking Independence Across Generations
Financial support between parents and adult children is more common than many people realize. But in some cases, it can be harder to recognize than expected.
In a recent ThinkAdvisor article, Ami Doshi, Director of Business Development at Hightower Signature Wealth, shared perspective on how financial dependence often shows up in more subtle ways, particularly among affluent families.
Rather than a clear-cut need for support, Doshi explains that assistance is often quietly built into everyday life.
“I sometimes describe it as ‘lifestyle scaffolding,’ which is financial support that quietly becomes part of the family’s infrastructure.”
What Financial Dependence Can Really Look Like
According to Doshi, financial support today often goes beyond traditional expectations. It may include:
- Covering private school tuition for grandchildren
- Providing funds for a first home mortgage
- Supporting a business venture
- Continuing to pay recurring expenses into adulthood
Because these forms of support can feel normal over time, they often go unnoticed.
Why it Can be Challenging
The challenge is not always the support itself, but how it is understood.
What makes this dynamic more complex is that it rarely feels like dependence at the time. As Doshi noted, many families do not recognize it until something changes, like retirement, a health issue, or an unexpected financial setback. Without clear expectations, these arrangements can gradually create long-term financial reliance and strain broader financial plans.
At the same time, many parents are trying to strike a balance between providing opportunities and encouraging independence. Those goals can sometimes pull in different directions. As Doshi explains, true financial independence is not just about assets. It also requires confidence and hands-on experience in making financial decisions, which is often built through participation, not simply receiving support.
The Takeaway
One of the most practical steps families can take is to clearly define the purpose of any financial assistance. Whether support is intended as a gift, a loan, an advance inheritance, or temporary help, clarity matters. Without it, misunderstandings can emerge and dependence can unintentionally continue longer than planned.
Providing support can be meaningful and intentional, but without clarity, it can also create unintended outcomes. Taking the time to define expectations and involve the next generation in financial decision-making can help ensure support builds independence rather than replacing it.
This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.
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