“Boomerang” kids returning home? Get ready for stress and dissatisfaction.
Adult children moving back with their parents is so common a phenomenon that it’s inspired Hollywood movies (witness Failure to Launch with Matthew McConaughey). Credit the financial crisis and the slow economic recovery that has followed.
One in nine parents surveyed by Fidelity and Stanford University’s Center on Longevity said their offspring had returned “to the nest” in the last year. Sixty-eight percent of those parents reported they were more stressed, and more than half said they were less happy (53 percent), less satisfied (54 percent), and had less leisure time (53 percent). Nor did parents report those housemates coming cheap: Seventy-six percent of respondents said they faced higher expenses.
Stanford Center on Longevity's Sightlines Project director Tamara Sims is a former EDGE-SBE mentor.