Empty Nest, No More
Ways to ensure a happy household with parents and adult children living under one roof.
RETURN OF THE BOOMERANG GENERATION
More than 1 in 3 millennials are living with their parents.1
Estimated length of stay: 3 years.2
Most Common Reasons For The Shift
Cost of living independently
Millennials’ net worth is half as much as Baby Boomers’ was when they were young adults; wages have also declined 20% for today’s boomerang generation.3
SHARING THE WEALTH
When Supporting Their Adult Children, Parents Feel:
67% Closer to their children emotionally
66% More companionship with their children4
Benefits for Parents:
Help with household responsibilities
Develop stronger intergenerational bonds
Contribution to monthly expenses
Benefits for Adult Children:
Save money for a down payment
Pay off student loan debt
Contribute higher amounts to retirement and emergency savings
ACHIEVING FAMILIAL HARMONY
Take these steps to ensure everyone is on the same page:
Discuss expectations, such as length of stay and schedules
Share household costs or chores
Spend time together while respecting boundaries
Listen to each other and openly communicate
If your children are coming back home, it’s a good idea to consider revisiting your
budget to account for their return. Use this opportunity to talk to your children
about saving and spending habits to help them achieve financial independence.
1 More Than One-Third of Young Adults Live at Home, U.S. Census Bureau, 2015.
2 It’s Becoming More Common for Young Adults to Live at Home – And for Longer Stretches, Pew Research Center, 2017.
3 Financial Health of Young America: Measuring Generational Declines Between Baby Boomers & Millennials, Young Invincibles, 2017.
4 Parents and Their Grown Kids: Harmony, Support, and (Occasional) Conflict, The Clark University Poll of Parents of Emerging Adults, 2013.
ALIC51819 (exp. 10/20)