According to a recent MoneyRates.com study of 2,000 adults, about 85% say the door is open to adult kids who move back home for financial reasons.
Additionally, the Pew Research Center found that 36% of all 18- to 31-year-olds were living at home in 2012. While parents may feel it is always their responsibility to care for their children, doing so may be at the risk of their own financial security.
This is especially the case when parents take out additional loans for their kids, overpay on expenses in order to accommodate another mouth to feed, and using retirement funds to help support their kids.
Helpful Baby Boomer ideas include:
- How to agree on financial contributions
- Deciding whether to downsize or stay in the family home
- How to avoid putting an adult child’s financial needs first
Books for Boomers: Reviews & Coaching Tips (FREE ebook edition)
Boomer Retirement Life Tips (ebook edition)