The declining economy has brought another unwelcome trend across the U.S.: middle-age baby boomers moving back with their parents. I was recently on ABC’s Bay Area talk show, “The View from the Bay”, discussing it. You can visit my website to view the segment: TheOrrellGroup.com.
MORE THAN one-third of retirees have had to help their adult children pay bills this past year. And, the number of multigenerational households has increased from 5 million in 2000 to 6.2 million in 2008.
Here’s a basic overview of this growing middle-aged boomeranger dynamic:
Until recently, the term “Boomerangers” (aka: boomerang children) had been mainly used to describe 20-somethings who’d go away to college but then go back to live with their parents after graduation. For Millennials, this was/is a totally accepted norm in their world and doesn’t have a stigma among their peers. Even most parents thought/think this was great because Johnny or Sally could then save money for a house, pay off student loans, and/or just be at home with them – and Millennials are known for being very close to their parents.
For me, when I was in my 20’s back in the 80’s, if I lived with my parents past the age of 21, I would have been considered a “loser”, which is why we’d pile 4-5 roommates in a 2 bedroom apartment…we’d do ANYTHING to avoid having to move back in with our parents.
Anyway, back to the point of this blog story. This economic downturn is changing the term “boomerangers” to now also include Gen X (adults 30-40′ish), Generation Jones (adults 42-54′ish) and even some younger Boomers (55-60). In a recent issue of Time Magazine (3/2/09), there is an interesting article, Bunking In With Mom And Dad, about the number of middle-aged adult children moving back in with their elderly parents (who are typically 65+), and some are arriving with a spouse and/or a few kids in the mix.
In the article they mentioned a woman with a law degree, who was 39 years old, lost her job, and burned through her savings/retirement while looking for a new job. She then lost her home to foreclosure. 600 resumes later, she still hadn’t found a job, so the only choice she (and her husband) had was to move in with her folks.
But, she’s obviously not the only adult child who has needed to seek help from their folks lately. Although this scenario of moving back with folks, with possibly a spouse and some kids, can cause a “space issue” and stress on the household, it can also be helpful for the retired parents. With more and more people over 65 years old finding themselves having to work because their retirement funds have plummeted, pooling resources can help. Even if the adult child (and spouse) can pay a little rent and help around the house/yard, it can make a big difference for an elderly person(s) on a fixed income.
Certainly there is a lot of stress and emotional issues that come with making this type of move, and until the economy improves, more and more people over the age of 30 may find themselves boomeranging back to their parents. Be sure to have honest discussions with your parent(s) ahead of time and be clear on expectations prior to moving in. This can range anywhere from: How long you expect to be there, boundaries around how they can discipline your children, how you plan to help them financially and/or with chores, etc.
Set the expectations from the beginning to avoid any potential issues once you’ve arrived!
For on-going info about Generation Relations at work, at home, and in the world, visit this popular blog: http://blog.generationrelations.com
Lisa Orrell is the author of the popular book, “Millennials Incorporated” (on Amazon), and is an in-demand consultant and speaker about Millennials & Generation Relations. She has been a featured expert on ABC, MSNBC, NPR and by many other national and international media. For more info about Lisa and to access her popular blog, visit: www.TheOrrellGroup.com
