As their children enter young adulthood, parents may use their own financial advantages to support their children as they pursue higher education, to help their children establish independent households by helping them with down payments for their first homes, or to lessen the financial burden involved with having their own children. Further, other parental assets, such as home ownership or help caring for children, may be used to aid adult children in difficult life stages. This chapter examines direct material support received by young people from their parents during the transition to adulthood in the form of money, time, and shared housing. It explores how much familial assistance young adults receive during adult transitions; how much more assistance children in high-income families receive during these formative years; the pattern of familial support during the transition years, and whether the observed age pattern can be explained by life-course events such as getting married, buying a home, or attending school; and whether familial support has increased in the past few decades.
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