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| Sunday, March 23, 2008 |
| Moving back home at middle age |
CNN.com's story: Moving back home at middle age elicited a great big "Yikes!" from me when I read it. Then in December, she finally accepted her parents' invitation to move into their home -- at age 52. "I'm back living in the bedroom that I grew up in," she said.
Taking shelter with parents isn't uncommon for young people in their 20s, especially when the job market is poor. But now the slumping economy and the credit crunch are forcing some children to do so later in life -- even in middle age.
[...]
A new survey by the retiree-advocacy group AARP found that one-fourth of Generation Xers, those 28 to 39 years old, receive financial help from family and friends.
The online survey of nearly 1,800 people ages 19 to 39 also found 57 percent believed they were "financially independent." But in a separate question, 33 percent said they received financial support from family and friends. |
| posted by Boston Gal @ 12:47 AM *
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| 5 Comments: |
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I read that in the paper this morning. EEEKS!!!
I can't imagine moving back in with my parents unless they needed help at home or something. And, even then, I think I just might work longer/harder to help them afford in home care.
I RAN out the door when I graduated from college. I love my parents, just in small doses.
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I know a lot of people that are doing this. They all have in common being not married, having a scattered job history and older parents having health issues. Yes it is not ideal but I think the article states it right... "But you take humble steps in order to move forward."
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This wouldn't be so bad if homes in the US were designed for multi-family living more often. My grandparents' house in Germany was 3 storeys, each one a complete functional unit on its own. Over there it's pretty common for the eldest child to stay in the house even after marriage. It definitely helps with keeping wealth in the family.
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Greece has the same stacking houses and family theory.
if 57% are "financially independent" and 33% receive support. Couldn't that mean that of those 43% who are not financially independent are the 33% who get help? You can read stats anyway you want to make your point.
Also, we are financially in great shape. But for Christmas and birthdays we get cash. Does that make us part of the 33%?
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I wouldn't read this article seriously...this is limited anecdotal evidence masquerading as financial news. It is more an example of people making terrible personal choices than any reflection on the economy.
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I read that in the paper this morning. EEEKS!!!
I can't imagine moving back in with my parents unless they needed help at home or something. And, even then, I think I just might work longer/harder to help them afford in home care.
I RAN out the door when I graduated from college. I love my parents, just in small doses.