Adult children who move back in
Most adult children and their families don’t consider the possibility of returning back home, but it happens more than you think! They return to mom and dad for various reasons but for the most part these center around being jobless, getting divorced, going into debt, or trying to avoid debt by cutting down certain costs.
Surveys say that 1 in 9 baby boomer parents experienced adult children returning home for one reason or another in the past year alone. Unsurprisingly, 75% of parents say they experienced higher costs as a result of this.
Though helping out family is admirable, make sure you’re not draining your retirement savings by doing so.
