The “Boomerang Kids” — young adults who leave to go to college, get married or just show off their independence — are moving back in with mom and dad. Boomerang Kids can be a mixed blessing for parents, both emotionally and financially.
Especially during hard economic times, adult children head for home. According to a survey, about 40 percent of 2017 graduates still live with their parents. Moreover, 42 percent of the 2015 graduates surveyed said they are still living at home.
The reasons are many, the first being economics. While the recession has touched Americans of all ages, it has been very hard for young adults. This has sent many kids back home. Plus, there is the matter of debt, especially college loans. For many recent graduates, it makes smart economic sense to move back in with their parents where life is comfortable and rent is either low or nonexistent. Then, of course, some return for personal reasons, such as recovering from a divorce or an illness.
Parents are often glad to help out, both emotionally and financially. As a result, the arrangement often works to everyone’s satisfaction. However, there are risks, especially for the parents. These include not only family tension and misunderstandings, but also money. The return to the family can become