The Cost of Perpetual Parenting of Adult Children

For many boomers, the empty nest seems more like the empty bank account. After college, kids boomerang home for a few months or years, driving up monthly household expenses. Even when they leave, they often return to the “Bank of Mom and Dad” for help with costs from new cars to camp for the grandkids. All those added outlays are impacting millions of boomers, causing many to delay or modify retirement plans, according to a new study by Hearts & …

Move Aside Millennials, Make Way for Gen Z

First the boomers were nudged from the media spotlight by millennials, the largest and most diverse generation. And who can argue that our adult children have made an indelible imprint on how we live, work and play. But now millennials are about to get some competition. Here comes Gen Z. Although the starting date can vary, Gen Z encompasses newborns to teens, beginning with those born in 2001. Demographers and marketers alike slice and dice the U.S. population in generational …

Sharing Accounts With Adult Children: A Good Idea?

 “I have an embarrassing secret. And if you’re a millennial, chances are you’ve got the same one.” The secret? Journalist Elizabeth Weingarten reveals in her Slate article,  “In Defense of the Digital Umbilical Cord,” that she is on her parents’ cellphone plan and “mooches off” their HBO Go and Netflix accounts. Apparently she was shamed by a Glamour magazine article that chastised that it’s not OK “if you’re 26 and your parents still pay your cellphone bill. Cut the cord on that …

Talk More, Text Less With Adult Children

In accepting the Oscar for best supporting actor last week, J.K. Simmons didn’t dwell on thanking the Academy and the Whiplash crew. Instead, he exhorted, “Call your mom, dad everybody. If you’re lucky enough to have a parent or two alive, call them! Don’t text, don’t email. Call them. Listen to them for as long as they want to talk to you.” The 60-year-old actor later told reporters that message was prompted by his realization that he had missed too many opportunities …

Are Millennials Becoming a Generation of Renters?

In the aftermath of the 2008 recession, boomer parents were besieged by millennial children boomeranging home to reclaim an old bedroom. Now our adult children are leaving the nest once again as they find work and perhaps a significant other. But where are they moving? And are the making the leap to homeowner? For decades, after a sojourn in the city, young adults typically headed to suburbia with their growing families for a better lifestyle. However, while millennials flocked to …

Why Millennials Are Waiting to Have Children

Remember this jump rope ditty? “First comes love, then comes marriage, then comes Sally with the baby carriage. How many babies will she have?” Then we’d madly jump, getting to 20 or 30 babies before pooping out. While our adult children likely never sang that song (or jumped rope for that matter), they have given the rhyme their own real-life twist: Either babies come before marriage or they come years after marriage, usually depending on the education level of the …