Posted on 03/21/2008 12:05:34 PM PDT by Sub-Driver
Adults Forced Back Into Parents' Homes Middle-Aged Children Starting Over With Mom, Dad
UPDATED: 2:45 pm EDT March 21, 2008 MILWAUKEE -- After being laid off from her job as an events planner at an upscale resort, Jo Ann Bauer struggled financially. She worked at several lower-paying jobs, relocated to a new city and even declared bankruptcy.
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.
Financial planners report receiving many calls from parents seeking advice about taking in their grown children following divorces and layoffs.
Kim Foss Erickson, a financial planner in Roseville, Calif., north of Sacramento, said she has never seen older children, even those in their 50s, depending so much on their parents as in the last six months.
"This is not like, 'OK, my son just graduated from college and needs to move back in' type of thing," she said. "These are 40- and 50-year-old children of my clients that they're helping out."
Parents "jeopardize their financial freedom by continuing to subsidize their children," said Karin Maloney Stifler, a financial planner in Hudson, Ohio, and a board member of the Financial Planning Association. "We have a hard time saying no as a culture to our children, and they keep asking for more."
Bauer's parents won't take rent money or let her help much with groceries.
(Excerpt) Read more at wnbc.com ...
Ma Walton looks pretty good in that picture too.
Jeez...I’m gettin old.
Exactly. My mother often tells stories of her grandparents, who lived with my mother, uncle, and their parents in a 4 bedroom 1 bath house her entire childhood.
And they were the norm in their neighborhood.
“Total non-story. Multiple generations of a family living under the same roof has been a norm for people always, everywhere.”
I agree. It’s totally normal. What is abnormal is our American society of atomized individuals with weak family ties. Would you believe we even have a major presidential candidate who insulted his own grandmother in an attempt to win votes? I swear, I’m not making it up!
Don’t you just love the way they spin this junk? LOL
responsibility should have been taught before. Now it is being taught in the world of hard knocks.
Cry me a river.
The problem is that parents are living longing.
If they had died in their 60’s she wouldn’t be moving in with them.
I really don't see the connection to President Bush.
My apology , reading that after I posted, I am agreeing with you not giving you grief. LOL
Me, too!
Three years ago I bought a house with an in-law suite. My parents paid part of the purchase price and it’s where they stay 6 months of the year in the late spring thru early fall before they go to their condo in Florida.
When they’re here they buy the groceries and I pay all the utility bills. When we need a break they take a day or 2 trip to visit friends in the area if they so choose.
It’s a great life, they get to have a lot of quality time with their grandkids, and we all are richer for it.
Bush and Cheney read this article, laughing, as they ate live kittens in the secret White House S&M room...
Exactly right; I fall into that category too. I had the credit card bills, 3 loans and all that crap within 3 years of graduating highschool. I learned pretty quick that’s not how I wanted to live and changed it - over the course of 5 years and a couple bounced checks.
Do a google search under Judy Norton-Taylor. She did a playboy spread and there are nude pictures of her all over the internet. Look at your own risk, you may not think she’s too hot anymore. She’s a little chunky and could seriously use some, uh, grooming.
There are a lot of us I’d bet.
Expect Granma eating dogfood stories for the rest of the year.
Totally predictable.
Hey just add a room, put the grandkids upstairs and your kids in the cellar. Only kidding. Thank God, while we have little money we do have the room.
I presume most of these types are the hippie Baby Boomers posting on liberal websites.
Actually, kids in that age range were typically raised right - to accept responsibility. I think greed may have grabbed hold of a lot of them tho. then caught in the mortgage crunch.
FORCED?
How about an accurate headline: “families support each other during ups and downs, just as they have throughout the ages.”
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