Thursday, October 9, 2008

Boomerang

Yesterday, my husband told me about an article in the Wall Street Journal entitled, The Next Bailout: Your Adult Children? Intrigued, I decided to check out the article for myself. The reason for my intrigue is that I have an adult child living at home. It seems that many, many, many parents do. It also seems like few parents expected to have their adult children "boomerang". I certainly did not.

It also seems to me that whenever the topic comes up, people sympathize with the adult child. I've heard comments such as, "It's expensive for them (adult children) to live on their own" or "(s)he is saddled with debt", namely, student loans.

I wonder why we are making excuses for these bright, creative, talented, often very well educated young people. I wonder why they can't work one, two, or three jobs to pay down their debt and begin savings. Why can't they find three to five people in the same situation to share an apartment to keep their housing costs low?

I was very surprised to learn that adult children living at home has become a common occurrence and that there is a blog on the subject appropriately called Adult Children Living at Home. It seems many people take comfort in the sentiment that it's happening all over, but that's not making me feel any better.

4 comments:

JvW said...

I moved out of my parents' house when I was 18. Not because they didn't want me there anymore (quite the contrary), but because I wanted to go out into the world. I didn't have a lot of money, and I accrued some debt during that time, but I learned a ton about myself and the real world.

My sister, on the other hand, lived at home until she got married at 23. She moved out for college and then returned. I never really understood it. I know that was difficult for my parents as well.

Dawn said...

My opinion is that many young adults have a sense of entitlement that the "boomer" generation didn't have.
Also, a lot of them don't seem to possess the work ethic that we were brought up with.
A lot of them don't want to start at entry-level positions either.
They don't want to work their way up the ladder ...

We got to get back some old fashioned values in our American culture.
A little personal responsibilities & integrity, would go a long way in preventing our present economic crisis.

P.S.
I'm really glad your back wealthy_1
I missed you!

wealthy_1 said...

jvw, I left home at 18 too. Never had the desire to go back either. I think that's why I'm perplexed by this phenomenon.

Dawn, I totally agree with you! Thanks for your support.

Christina said...

Thanks for the link to www.adultchildrenlivingathome.com/blog. We do try to provide resources that help families dealing with all the confusion that having adult kids at home can create. You might want to check out our contract template for help: www.adultchildrenlivingathome.com/contract.htm