Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTVawn HimmelsbachSat, July 18, 2026 at 11:30 AM GMT+2 6 min readromanchoknadii/EnvatoMore young adults — and even those in middle age — are still reliant on their aging parents for money, whether it's paying for college or helping them with a down payment on their first home.Of parents with Gen Z kids, almost two-thirds (64%) say their kids still rely on them financially, according to the 2026 Wells Fargo Money Study (1).Must ReadBut in some cases, kids may actually be the ones helping their parents manage money. Take Dave Lee, a 17-year-old high school senior from New York, who advises his parents on their investments and has $26,000 saved up in his own brokerage account."The ultimate goal is to help my parents retire," Lee told The Wall Street Journal (2).When Lee's parents moved to the U.S. from Korea, they didn't speak much English. So, along with his siblings, Lee helped translate the household bills. But his interest was piqued in middle school while playing a board game where players learn how to build income."It was just the feeling of winning and accumulating money," Lee told WSJ. "It was just exciting."Since then, he's become the family's informal financial advisor, helping his mom open a brokerage account, negotiating an interest rate on a car loan and providing retirement savings advice to his parents.Financial literacy is on the riseIn previous generations, families often didn't talk about money. And in some cultures it's still considered taboo. But these days, more families are starting to talk more openly about their finances.Less than half (49%) of baby boomers said they discussed money with their parents growing up, according to a survey (3) of more than 3,000 U.S. adults by U.S. Bank conducted in partnership with Morning Consult.But nowadays, nearly nine in 10 parents are comfortable talking to their kids about money, "signaling a significant shift toward transparency and early financial education," according to the survey.At the same time, more states are requiring high school students to take personal finance courses to graduate. To date, this is a mandatory requirement in 39 states, according to the Council for Economic Education's biennial Survey of the States (4).Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info