• September 6, 2011

Only 23% of 20-somethings rate themselves as totally independent, according to a survey by The PNC Financial Services Group, Inc.

Only 18% of 20- to-29-year-olds, whose adult lives began amid the 2008 Great Recession, are confident they will have enough money to live comfortably when they are ready to retire.

These findings are part of the "PNC Financial Independence Survey," which sought insights into the financial mindset of 20-somethings within Generation Y, which is projected to outnumber all population segments by 2017.

The study compares the responses within the age group and reveals their financial concerns are mounting in the early years of adult life. For example, 26% of 22- to-23-year-olds feel optimistic about their personal financial future and 20% are confident about having enough money for a comfortable retirement. Only 14% of their older peers, at ages 28-29, agree on both points.--Tanya Irwin