Although traditionally your children grow up and move out of the family home, a phenomenon has occurred in recent years known as boomerang kids.
This occurs when adult children move back in with their parents as young adults who were living independently have now “boomeranged” back to their family home. . It’s become so common that there have been multiple films centered on this topic including “Failure to Launch” featuring Matthew McConaughey. Unfortunately, this trend doesn’t just mean an upset for the home. It’s also led to a financial crisis and a slow economic recovery.
Relationship Counselling Perth performed a study with parents of adult children. One in every nine parents said that they children had returned to their home in the last year and 68% of those parents reported high stress levels and a decrease in happiness and leisure time. Not only does this trend have psychologically negative effects, it’s also a financial burden for parents as 76% reported higher personal expenses.
Health concerns are also prevalent. Forty-six percent of women reported sleeping worse when their children came home and 40% reported weight gain.
Fidelity and Stanford Center also surveyed more than 9,000 retirement-plan participants still working full time to understand how major life events affect happiness, health, and wealth. The results of their study were released in May.
Research findings indicate that a key factor in living a long and healthy life depends on being able to navigate life events that have the potential to influence a person’s finances, career, happiness, and health. These conclusions were drawn in the Sightlines Project study.
Although it’s common for children to come home after college if they haven’t found full-time employment, older adults also frequently move in with their parents. In the United States, more 18-34 year olds live with their parents than with a spouse.
A report on this phenomenon, The Changing Economics and Demographics of Young Adulthood: 1975-2016 found a major shift in the past 40 years. In the 1970s, young adults were more than twice as likely to live with a spouse than with their parents.
The report also looked at the characteristics of adults who lived with their parents. Most of them are not working or studying, they have high school diplomas of less, and about 20% of them have children. Half of them are white and the majority are male. Only 25% have disabilities. Additionally, almost nine in every 10 young adults living with their parents a year ago are still living there today, making this their permanent residence.
This trend is very recent in society. Back in 2005, the majority of young adults lived independently. By 2015, only six states had a majority of young adults living independently. This living arrangement hasn’t proven ideal for either parents or their adult children. Used to having their independence, adult children have to adjust to having the parents in charge of the home. The challenge of two generations living together isn’t an easy one to navigate and can have a negative effect on parent-child relationships.