The transition to adulthood in Western societies, termed emerging adulthood (EA), holds new challenges for family relationships across and within generations. Drawing on Self Determination Theory and Bowens’ Family systems theory, this study examines the combined contribution of personal resources and relationships with parents and friends to satisfaction with life among young Israeli adults. It also examines the possible change in parental support that occurs with increasing age. A convenience sample (n = 572) of young Jewish Israeli adults (18–29 years) completed structured questionnaires. Using regression analysis, we modelled the associations between personal and support variables to life satisfaction as well as the interactions between age and parental support. The findings reveal that young women reported receiving more parental support than young men. Commitment to values and beliefs and greater support from friends make a positive contribution to life satisfaction. High parental support impairs life satisfaction as age increases. The study extends Bowens’ theory to understand the developmental stage of young adulthood and emphasize on the practical level that therapists need to familiarize themselves with the protective variables at this stage of life and the changing role of parental support.