LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

Most Americans say this financial milestone makes you an adult

Tom Robbins by Tom Robbins
June 25, 2025
in Investing
Most Americans say this financial milestone makes you an adult
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


These days, it’s common for parents to give their adult children some financial support. But it wouldn’t take a lot to be considered independent.

About three-quarters, or 76%, of Americans say that coming off a parent’s cell phone plan is one of the “ultimate signs” of adulthood, according to a recent survey of over 2,000 adults by AT&T.

Roughly two-thirds, or 66%, of those polled also say they believe adult children should aim to reach this financial milestone by age 21. However, of those who pay their own cell phone bill, most waited until age 27 — and 18% didn’t start paying for their plan until age 40 or later, AT&T found.

More from FA Playbook:

Here’s a look at other stories affecting the financial advisor business.

It makes sense that paying for a cell phone plan would be a telling sign of financial freedom for many young adults, according to Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida.

“Eventually they have to get their own car insurance because they can’t stay on their parent’s plan once they are no longer living them after they’ve finished school,” said McClanahan, a member of the CNBC Financial Advisor Council. “At 26, they have to get their own health insurance. So it is not surprising that they stayed on the family phone plan as the last break for independence.”

Adulting includes ‘micro-milestones’

Many experts argue it’s harder today for young adults to make it on their own.

“Separating from a parent’s cell phone plan might seem minor, but it symbolizes something much bigger: financial independence and personal responsibility,” said Douglas Boneparth, an CFP and the president of Bone Fide Wealth in New York.

“In today’s world, where young adults are often burdened by high living costs, student loans and delayed milestones like homeownership, even small acts of autonomy feel like major wins,” said Boneparth, who also is a member of CNBC’s Financial Advisor Council.

According to J.D. Power, the average monthly cell phone bill is $144.

In addition to soaring everyday expenses and housing costs, millennials and Generation Z face other financial challenges their parents did not at that age, other studies also show.

Not only are their wages lower than their parents’ earnings when they were in their 20s and 30s, after adjusting for inflation, but they are also carrying larger student loan balances.

“‘Adulting’ isn’t always about hitting big life events,” Boneparth said. “Sometimes it’s about taking ownership of the basics, like paying your own phone bill. These micro-milestones offer a sense of progress and control when other financial goals feel out of reach.” 



Source link

You might also like

Thursday’s big stock stories: What’s likely to move the market in the next trading session

Morgan Stanley’s highest conviction picks into earnings

Student loan forgiveness paused under a popular repayment plan. Here’s what to know

Share30Tweet19
Previous Post

Primary win by pro-rent freeze Mamdani knocks shares of Flagstar bank on NYC market exposure

Next Post

BP shares jump 7% on report it is in early-stage talks to be acquired by Shell

Tom Robbins

Tom Robbins

Recommended For You

Thursday’s big stock stories: What’s likely to move the market in the next trading session
Investing

Thursday’s big stock stories: What’s likely to move the market in the next trading session

July 24, 2025
Morgan Stanley’s highest conviction picks into earnings
Investing

Morgan Stanley’s highest conviction picks into earnings

July 23, 2025
Student loan forgiveness paused under a popular repayment plan. Here’s what to know
Investing

Student loan forgiveness paused under a popular repayment plan. Here’s what to know

July 23, 2025
This oil ETF is showing signs of a possible turnaround, according to the charts
Investing

This oil ETF is showing signs of a possible turnaround, according to the charts

July 23, 2025
Next Post
BP shares jump 7% on report it is in early-stage talks to be acquired by Shell

BP shares jump 7% on report it is in early-stage talks to be acquired by Shell

Related News

Deutsche Bank downgrades three solar stocks as industry demand weakens in the U.S. and Europe

Deutsche Bank downgrades three solar stocks as industry demand weakens in the U.S. and Europe

October 20, 2023
Investing 101

Investing 101

April 1, 2025
Stocks making the biggest moves midday: Southwest Airlines, GameStop, Advanced Micro Devices and more

Stocks making the biggest moves midday: Southwest Airlines, GameStop, Advanced Micro Devices and more

June 10, 2024

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?