Multigenerational Living: On the Rise

Editor’s note: This post is modified from Amy Goyer’s article, Multigenerational Living Is Rising, and May Be to Everyone’s Benefit in the September/October 2011 issue of the American Society on Aging’s Aging Today magazine. Laura and Paul Patyk, both in their mid-40s, have a full house. With six children, any home would be a bit crowded. But in 2003, the Patyks invited Laura’s parents to live with them when her mother became ill with congestive heart failure and a stroke. A …

The Goyers: Opting for Multigenerational Living

I’ve had a strange obsession with watching The Waltons the past few months. I find myself DVRing every episode on three different channels. I watch 4 episodes a day. For some reason, I’ve been oddly attracted to their TV-land multigenerational family living and the connection to my childhood (when The Waltons was in its prime.) Now I know why. In the beginning of September my parents and I will be moving in together, forming our own version of 21st century …

Census: Recession Drove Shared Households and Higher Poverty Rates

A new Census Bureau report confirms what every re-feathered nest, caregiving combo, or extended family household knows: Following the recent recession, there were more combined households in 2010 (22 million – 18.7 percent of all households) than there were in 2007 (19.7 million.) And guess what else? Personal poverty rates are higher among the adults who live in these households. The findings validate my favorite refrain: When finances get tough, families come together.  That includes opening our homes, cleaning out …

Study: Boomers Give Up Savings to Help Parents, Kids

Baby boomers are selfless? Apparently many are, according to a new study by Ameriprise Financial. The financial group’s recent study, Money Across Generations, polls three generations: affluent baby boomers (with $100,000 or more in investable assets) along with both the parents and the children (over age 18) of baby boomers. New findings from the study indicate that baby boomers are holding off on major purchases and instead of channeling those savings into retirement accounts to support their Gen X and …

The Takeaway: More Than Half Of Youngest Adults Living With Parents

It’s a story that’s been developing for several years now””more and more young adults are moving back home with their parents (or never leaving in the first place). Now the U.S. Census Bureau has data.

Caregiving, Recession Likely Behind 64% Rise in Children Living with Grandparent

There are many different data sets we can look at regarding family living arrangements, multigenerational households and grandparents caregiving for grandchildren, but consistently they all show growth in recent years. The latest Census Bureau report on the topic once again confirms the increase in families bringing generations together. The U.S. Census Bureau recently released the report, Living Arrangements of Children: 2009, which indicated 7.8 million children live with at least one grandparent, more than double the 4.7 million children living …