Gen X Turns 60 and Is Still Tapping Parents for Money—and That’s OK

Generation X is officially turning 60, and the eldest members of the “MTV Generation” are creeping ever closer to their own retirement years. 

Yet, if you look at the latest economic data, a striking number of these 46- to 60-year-olds are still tied to their parents‘ financial apron strings.

According to Northwestern Mutual’s 2026 Planning & Progress Study, a stunning 33% of Gen Xers confess to being financially dependent on Mom and Dad, with 22% of them believing they will never achieve true financial independence.

So many in this position point directly to homeownership as an unattainable goal, but if you look a little closer at the real estate market, a fascinating narrative emerges proving them quite wrong.

The Bank of Mom and Dad needed now more than ever?

According to Northwestern Mutual’s findings, 42% of all adults surveyed said they feel financially dependent on their parents.

Among those 33% Gen Xers who are currently financially dependent on their folks, only 51% are confident they will become financially independent someday.

“For a generation that is largely in its peak earning years and often juggling careers, homeownership, children, and aging parents, those numbers are striking,” admits David Hood, CFP, CLU, ChFC, RICP, CAP, partner and wealth management adviser at Artistry Wealth Management, a Northwestern Mutual Private Client Group.

He notes that this generation, like millennials, has found it difficult to define financial independence as a “milestone” because the journey has been so “disrupted.”

“Many Gen Xers have lived through multiple economic downturns, market corrections, and periods of rising costs. On top of that, a disability, illness, layoff, loss of a spouse, or long-term care event can quickly derail even the best-laid plans.”

Perhaps because of this, 59% believe achieving financial independence is harder today than it was for previous generations.

This pessimism is particularly pronounced when asked about housing. Among Gen Xers who do not currently own a home, only 31% believe that owning a home is currently financially affordable or will be in the future, down from 33% in 2025.

The reality for Gen X

The truth is, Gen X is further ahead than they think—and homeownership is a bit part of that.

First of all, according to the National Association of Realtors® 2026 Home Buyers and Sellers Generational Trends Report, Gen X isn’t broke. 

In fact, they boast a commanding median household income of $125,000, and they make up a massive 25% of all recent homebuyers, snapping up large, 1,900-square-foot properties.

So how do we reconcile a generation that is pulling six-figure incomes and buying large suburban homes with the reality that they are still relying on the Bank of Mom and Dad to survive?

“Homeownership and financial independence are related, but they’re not the same thing,” explains Hood. 

“For many Gen Xers, owning a home is a goal they’ve already achieved or one that feels tangible and attainable because it follows a relatively clear road map: Save for a down payment, qualify for financing, and build equity over time. Financial independence is much broader. It requires confidence that you can maintain your lifestyle through retirement while navigating future uncertainties such as healthcare costs, inflation, market volatility, and unexpected life events.”

It’s also unfair to group all Gen Xers together.

“These stats likely characterize two different groups of Gen Xers,” says Hannah Jones, senior economist at Realtor.com®.

“Gen X nonhomeowners probably skew toward those who have never owned, while the 25% share of home purchases is likely made up largely of repeat buyers. Since only about 1 in 5 Gen X buyers are first-time buyers, these two groups probably don’t overlap much.

“That said, the underlying point holds,” she adds. “Gen X nonowners are notably pessimistic as the only generation whose affordability optimism fell this year while every other generation’s rose. The pessimism is likely concentrated in the shrinking slice of Gen X that never got on the property ladder, possibly due to lingering effects from the global financial crisis or missing the low-rate refinancing window during the [COVID-19] pandemic.” 

A house that is a home for all

But there’s something else at play here: a total structural shift in how Americans live.

The standout trend for this generation is their desire to invest in multigenerational living. At 19%, Gen X buyers were the most likely of any generation to purchase a multigenerational home. 

The most common reasons for these purchases were to accommodate adult children or relatives over 18 moving back home (36%) and to care for aging parents (35%), according to the NAR.

“Gen X adults are most likely to find themselves in a sandwich-generation scenario, making room for both aging parents and adult children under one roof,” adds Jones. “Multigenerational living is a persistent response to affordability and caregiving pressures, and may reflect the growing share of adults living at home.”

So then, it may be that Gen Xers aren’t just taking money from their parents in the traditional sense. One could argue they may be pooling family equity to buy properties that can house three generations under one roof, securing a financial future for all. 

“Gen X’s buying power looks driven by something more mundane and more durable than a wealth transfer: They’re mostly repeat buyers drawing on 15 to 25 years of accrued equity, not first-timers relying on family cash,” explains Jones.

“The same dynamic fueling the boomer surge, namely decades of accumulated housing wealth through appreciation, applies to Gen X, just one rung behind. Where the wealth transfer shows up more clearly is on the giving side: 74% of parents with kids at home are planning to, or already, help them buy a home, and 29% say that’s now a higher priority than helping pay for college.

“So Gen X is more likely to appear in this story as transferrers, helping their millennial and Gen Z children, than as beneficiaries of a transfer from their own parents,” she adds.

“Ultimately, I think Gen X’s confidence in homeownership reflects the fact that it’s a visible accomplishment they’ve worked toward for years,” adds Hood. 

“Their lower confidence in financial independence likely reflects a broader concern about whether they are fully prepared for the risks and uncertainties that still lie ahead. The goal isn’t simply to own assets; it’s to build a financial plan that can weather whatever life brings next.”