There has been a lot of focus on the elderly during the coronavirus pandemic, but it is those on the younger end of the spectrum that are struggling.
One third of 18-34 year olds report a decline in mental health, while only 9% of people over 65 report the same, according to a Harris Poll and confirmed in an Edward Jones survey.
Same numbers for saying the impact of Covid has been “extremely negative:” 33% of those under 35 claiming that but only 6% of those over 75.
For those just trying to get a start in life, many emerging from college under a mountain of student loan debt, the rug has been pulled from underneath.
One in four are still relying on parents to make the rent, but KTRH money man Pat Shinn says things will improve. “Please know that this too shall pass and your son or daughter will get back to being fully employed.”
It can’t come soon enough for some parents, who had saved for retirement but not budgeted for bailing out a child on the way there. “You thought they had left the nest and were on their own, and right now we are learning they are not out on their own with this coronavirus and some need a little help.”
A sign of the times, the demographic who says they are most inclined to delay their retirement plans as a result of the pandemic – 43% - is the those 18-34.