Nikki Weinstein
FOCUS Policy, Community Engagement and Bridges Director

Editors at the New York Times recently asked, will parents be bankrolling their 40-something child? A good question given that many baby boomer parents are doing just that for their 20-something kids by paying for college, summer overseas adventures, and even post-graduation apartments. Sure, times are tough, but what happened to independence? To sinking or swimming on your own? Or to just plain hard work and living within your own means (and not your parents')?
 
This isn’t just a sign of the recession. In fact, you might say this has been a long time coming. When parents fit the description of “helicopter parents” when their child is in high school, it is a natural progression for  them to then call professors about grades during college, intervene in job interviews, and well, pay for rent. Where will it stop, and what are the consequences?
 
Certainly this must affect 20-somethings in the workplace. Many of those graduating college today have been constantly micromanaged by their hovering parents. Do they know how to function independently and how to take initiative without that guidance? Plus, if mommy and daddy are paying their bills, does this impact motivation at work to, for example, outperform others to get that raise?
 
On the flip side, not having to worry about money may free one up to take risks and be more creative.
 
Still, what about those young professionals whose parents aren’t footing the bills? Will this passing on of wealth create even greater asset disparities and leave the have-nots at a disadvantage in the workforce? Already, parents of means routinely help their children with the down-payment on their first home purchase. And surely in this day of global economies, providing travel experience for 20-somethings gives them a leg up in their ability to compete for jobs.
 
While these parents certainly mean well, I wonder what the larger impact will ultimately be.