The pros and cons of having adult kids living at home
Biden ‘not confident’ there will be a peaceful transfer of power in first interview since dropping out of the raceexperience of having their 20-something children at home
Convenience also plays a factor in why adult kids are living at home , along with wanting to be close to their family .While 45% surveyed said that their child moving back in has improved their relationship, taking care of their kids is taking a toll on parents. “If you have adult kids living at home—which isn’t uncommon nowadays! — it’s an opportunity to model good financial practices while encouraging them to save diligently,” said Leasa Melton, manager of product strategy for BOK Financial.
Beyond their own financial woes, 46% of parents surveyed expressed worry about their child’s ability to be financially independent. Whether this information took root is a different debate: just 20% grade their child’s understanding of financial matters as A or higher, compared to 27% who grade themselves the same.The survey found that one in five parents said having their adult children at home has negatively impacted their own retirement or financial plans.
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