Parents now expect to support their children until age 26, new survey finds

More parents expect to help their children financially into adulthood, with some delaying retirement or upsizing.

A mother and daughter discussing in the kitchen, as the mom using a computer

Published: June 17, 2026 at 11:55 AM

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Many parents are preparing for a much longer period of financial support than previous generations, with the average parent now expecting to help their children until the age of 26.

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New research commissioned by savings and investments firm M&G suggests the "bank of mum and dad" is becoming an increasingly important part of family life, with support often stretching well beyond university.

The findings also highlight how rising living costs and housing challenges could be changing family plans, from delaying retirement to staying in larger homes for longer.

Parents expect financial support to continue into the mid-twenties

According to M&G's survey of 1,000 UK parents with children aged 16 to 18, fewer than one in 10 (9%) believe their child will be financially independent by the age of 21.

Instead, parents typically expect to provide support until their children reach 26.

Nearly one in five parents (18%) even believe they will still be helping their children financially when they are in their thirties.

For many families, that support goes beyond everyday expenses. 24% expect to help with a deposit for a first home, and 14% anticipate providing longer-term support with rent or mortgage payments

How longer-term support is affecting parents' life plans

Supporting children for longer is having a knock-on effect on parents' own finances and long-term plans.

The research found that almost two-thirds (64%) expect to make lifestyle changes to help their children financially.

Common adjustments include:

And 7% are considering moving to a larger home so their adult children can continue living with them

M&G says these decisions could have implications for parents' long-term financial security if they are not carefully planned.

Could delayed independence affect the next generation too?

The survey also looked at the attitudes of 1,000 young people aged 16 to 18.

One finding may concern financial experts, two in five teenagers (40%) said they expect to delay saving into a pension until their thirties.

Starting later can make it harder to build up retirement savings over time, particularly when younger workers miss out on years of potential investment growth.

Matthew Ings, a chartered financial planner at M&G, said the trend reflects a wider shift in what financial independence looks like for today's young adults.

Supporting children into their mid-20s is becoming the norm, but it can come at a cost if it isn’t planned for. Many parents are quietly absorbing that support over time, often at the expense of their own retirement savings.

Matthew Ings, chartered financial planner at M&G

What families can take away from the findings

While many parents are happy to help their children for longer, the research suggests it may be worth considering the impact on the whole family's financial future.

Speaking about the findings, Ings said: "At the same time, if financial independence is delayed, there’s a real risk that pension saving is delayed too."

He added: "Financial independence is no longer a clear-cut milestone, and that makes it more important to step back and take stock."

For parents of teenagers, conversations about money, housing costs and future financial goals may become increasingly important as children move into adulthood.

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The survey suggests that, for many UK families, financial support is no longer ending when children leave education. Instead, it is becoming a longer-term commitment that parents are increasingly building into their plans, even if that means making sacrifices of their own along the way.

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