Emerging adulthood milestones, perceived capability, and psychological well-being while transitioning to adulthood: Evidence from a national study

Abstract

Using the 2017 wave of the transition to adulthood dataset, this study examined the association between the achievement of key milestone markers of adulthood and the well-being of emerging adults between ages 18 and 28. Results indicate that relationship status, financial behavior, and perceived capability were positively associated with the well-being of emerging adults. The results also indicate that financial responsibility, mediated by cohabiting relationship status, was negatively associated with relationship satisfaction and life satisfaction of emerging adults. All relationship categories were positively associated with well-being when compared with the reference group of emerging adults who were single and not in a relationship. The study also found that being African Americans or other racial-ethnic minority groups was negatively associated with life satisfaction, thus indicating a greater need for programs and policies to bridge the gap in perceived well-being that currently exists between Non-Hispanic Whites and other racial-ethnic minority groups. Educational attainment was positively associated with the perceived well-being of emerging adults. Implications of the key findings of this study are included for financial planners, scholars, and policymakers.