How close are the relationships between young adults and their parents today? Which factors account for closer or less close relationships between the generations? The theoretical model considers opportunity, need, family and cultural-contextual structures. The empirical analyses draw on the Swiss TREE survey (“Transitions from Education to Employment”). They reveal remarkably close ties between the generations. However, we also find a number of strains, such as the separation of parents and unemployment of adult children, that contribute to family relationships being less close. The findings provide insight into the reality of intergenerational relationships during a dynamic period of life.