We've noted several times in recent months that, despite the 'economic recovery', a record number of young 'adults' are moving back home with mom and dad after college and staying there well into their 30's.
Now, as confirmed by a recent study conducted by Fidelity and the Stanford Center on Longevity, the added stress of caring for all those 'adult' children is putting a severe emotional and financial strain on Baby Boomers with over 75% saying their adult children are cutting into their budgets and over 50% saying they're generally less happy about life. Per Fidelity:
Adult children who move back home is a common event mdash; one in nine Boomer parents surveyed said their kids returned "to the nest" in the past year. And it's taking a toll: 68 percent of parents reported they are more stressed, and more than half said they are less happy (53 percent), less satisfied (54 percent) and have less leisure time (53 percent). Those new housemates come at a cost: 76 percent of parents said they face higher expenses. The health impacts are significant for women, as 46 percent reported sleeping worse and 40 percent reported gaining weight.
At one point in time in America, living at home with mom and dad after crossing out of your teenage years and into your 20s was embarrassing and something that was generally avoided at all costs. And while hard times come and go, 20-somethings who were forced back into their parents' care worked their tails off until they could save up enough money to once again regain their freedom.
That said, these Boomer parents shouldn't expected their basement-dwelling snowflakes to leave the nest, for the second time, anytime in the near future because, as we pointed out a few weeks ago, roughly one-third of all millennials live at home with their parents and one-fourth of them can't be bothered with enrolling in school or finding a job.
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12 comments:
Well, that is what happens when you can't find a job or lose your job or don't get paid crap... This is also what happens, when you make little to no money and you get taxed and fee'ed to death... But just wait for those clowns to start running their mouth about how you don't need help and that once you get help via the govt, you are a stain on the system... But that is only becasue they fell into money or was gifted money and or was lucky enough to grow up where they could work until they retire and actually have money... But wait until their premiums for health care go up, they will change their tune when their house gets a lien on it for not being able to pay the premiums...
And you can think this healthcare overhaul will save you but you are stupid and sadly mistaken to think that... The govt wanted its hand in the healthcare industry for a reason, and if you think for one second they are going to willy-nilly relinquish it you are more stupid than dirt...
Want to make a bet that most of the Baby Boomers end up in nursing homes because those millennials dont want to take care of the elderly! Watch and see!
Again, I'm a millennial who works hard, bought a home within my budget, got married, volunteer and work for community. Many are like me. I speak out against the liberal insanity and did so years ago in college. Remember, if you don't like a generation, look to the one that raised them. The parents from the 1980s and 1990s were all about participation trophies (or the blacks, who just ignored their children.). Let's get real here, it's time to reward those who work and cut off welfare to those who won't.
4:01...well said. I am a senior and find it refreshing to hear your perspective. Obviously YOUR parents did something right. I agree with your general assessment of the 80s and 90s era parenting which is a sad state of affairs. Bottom line, you reap what you sow.
Thank you. I appreciate the kind words, as would my parents. We aren't all idiots!
See my response below. Get a damn education (tech school, military, etc.) Then get a damn job then get a damn wife and live a productive life without being a drain to everyone else!
You raised 'em!
Please take them to the shooting range and teach them how to shoot and show them that they will need this information very soon. They can help defend the family and themselves. Buy plenty of ammo if you want to survive . Try to deprogram them from the obama brain washing. when this is done , they will be good soldiers . If you live in or around a city the thugs will be the first you have to destroy , leave them lay and take their guns and what ever you can use . Try not kill them , it is better to wound them for scare tactics . These teachings will come in handy when the $hit hits the fan .
I am a baby boomer and was out on my own since I was 17. Worked while going to high school. Got married and had my first child at 18. I had 3 children and now have 7 grand children. My two boys went out on their own at 17 and 19. My daughter graduated college then got married and has 3 children. All are doing well and working taxpaying members of society. My oldest boy had 3 jobs when he was 14. he liked a lot of things and knew the only way to get them was to work for them. I never gave them any cars because we didn't have much money with five of us to feed. But hey it never killed them and they all have a good work ethic. If more parents today would give their kids more of their time instead of material things they would be a lot better for it. Most kids today if you ask them would rather their parents do things with them and spend more time with them rather than just give them cars and things,
Do these parents let the little idiots smoke pot in the basement?
The parents might be smoking pot with the little idiots.
Pot has nothing to do with it.
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