Tyler Durden – May 8th, 2017
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.