McLEAN, Va. (10/29/13)--You're finally over Empty Nest Syndrome. Maybe you've taken up a new hobby, or you and your spouse are enjoying getting to know each other again. Then...your adult child asks to move back home (USAtoday.com Oct. 22).
Thirty-six percent of young adults ages 18 to 31 were living with their parents in 2012, up from 34% in 2009 (The Wall Street Journal August). Unemployment, the high cost of buying a house or paying rent, and postponing life events such as getting married are factors. Or maybe a divorce is why an adult child is moving back home.
Whatever the reason, if your little chickadee is coming back to the nest, consider these ideas to keep the peace, based on the Pew Study, "Why Adult Kids Still Live With Their Parents":
You've most likely met with a financial adviser about retirement planning. That mentor can help you decide what you can and cannot afford to do for adult children. Setting rules before they move back home can help you keep your retirement goals and savings on track.
For related information, listen to the Home & Family Finance Radio segment "Before You Give Your Kid a Loan" in the Home & Family Finance Resource Center.