Episode 32: Preparing for Boomerang Kids
Nearly 55% of young adults will move back in with their parents before the age of 27, and these so-called “boomerang kids” can have serious financial implications for parents.
According to the Bureau of Labor Statistics, nearly 55% of young adults will move back in with their parents for a period of time before age 27. These ‘boomerang’ kids often return home while they look for work, while they save to buy their own home, or while they pursue higher education. Regardless of the reason, this scenario has financial implications for parents and it may require taking measures to protect your own financial health.
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