Answer: 28

Questions:

• At what age would YOU find it embarrassing to still be living at home with your parents/guardians? Explain.
• At what age do you hope to be out on your own and not living at home with your parents/guardians?   
• Can you name a few reasons why adult children are living at home?
• Do you think if you were to live at home after high school/college that you would  be expected to contribute to household expenses? Why or why not? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers: (from CNBC)  This figure came from a survey from TD Ameritrade:

• Moving back in with your parents after college is not a new concept. But around age 28, it starts to get old.
• That’s when the situation begins to get embarrassing, according to a new survey from TD Ameritrade.
• That goes for all of the generations surveyed, including young millennials and even younger Gen Z respondents, as well as parents.
• Overall, the stigma around children living at home into their 20s has decreased, according to TD Ameritrade’s research.
• One reason kids move back in with their parents is student debt, cited by 31% of millennials and 20% of Gen Zers.
• Many adult children who live at home are not paying rent, the survey found. Those who do pay to live at home are shelling out an average of about $500 per month.

Bottom line, this should be a time where parents and their adult children set (financial) goals and a plan for the kids can move out at some point. The article also notes that it is important for those living at home contribute something to help with household expenses.

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In case you missed it, this week on the NGPF podcast we had Burton Malkiel, the author of Random Walk Down Wall Street, a book which sparked the Index Fund Revolution

About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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