Mary Ellen was hot.
Posted on 03/21/2008 12:05:34 PM PDT by Sub-Driver
Adults Forced Back Into Parents' Homes Middle-Aged Children Starting Over With Mom, Dad
UPDATED: 2:45 pm EDT March 21, 2008 MILWAUKEE -- After being laid off from her job as an events planner at an upscale resort, Jo Ann Bauer struggled financially. She worked at several lower-paying jobs, relocated to a new city and even declared bankruptcy.
Then in December, she finally accepted her parents' invitation to move into their home -- at age 52. "I'm back living in the bedroom that I grew up in," she said.
Taking shelter with parents isn't uncommon for young people in their 20s, especially when the job market is poor. But now the slumping economy and the credit crunch are forcing some children to do so later in life -- even in middle age.
Financial planners report receiving many calls from parents seeking advice about taking in their grown children following divorces and layoffs.
Kim Foss Erickson, a financial planner in Roseville, Calif., north of Sacramento, said she has never seen older children, even those in their 50s, depending so much on their parents as in the last six months.
"This is not like, 'OK, my son just graduated from college and needs to move back in' type of thing," she said. "These are 40- and 50-year-old children of my clients that they're helping out."
Parents "jeopardize their financial freedom by continuing to subsidize their children," said Karin Maloney Stifler, a financial planner in Hudson, Ohio, and a board member of the Financial Planning Association. "We have a hard time saying no as a culture to our children, and they keep asking for more."
Bauer's parents won't take rent money or let her help much with groceries.
(Excerpt) Read more at wnbc.com ...
The reporter forgot to mention that it was all Bush's fault....
Don’t forget global warming.
This is obviously another unintended consequence of ETHANOL MADNESS...............
|
I’m not going to believe this is a problem until children in their 70’s and 80’s have to move back in with their parents who are in their 90’s and 100’s.
******************
Forcing? Please.
There may be one (possibliy unintended) upside to this. These people may be able to help out their parents that need extra care. Even if they don’t they may be able to physically help them do things, that they may not otherwise have done if they lived out of state. Maybe they may even become closer to their folks. I’d hope that this happens anyway.
Total non-story. Multiple generations of a family living under the same roof has been a norm for people always, everywhere.
Oh to God how I wish my kids would move back in bringing my grandchildren with them. I would love having a couple of strong backs back in the house. Not ot mention the joy of having them and theirs under the same roof. A bit tight, but, well worth the loss of pricacy.
Of course, it has NOTHING to do with the spending habits of these individuals.
Simple solutions:
The parents may not expect such a contribution and wouldn't ask for it, but it is certainly appreciated.
Exactly. For some reason my having (a) a real job, unlike an “events planner”, (b) no debt aside from my car and home, (c) $0.00 credit card debt and (d) just a touch of responsibility for my money is a lifestyle these people can’t fathom.
What a huge manatee.
Mary Ellen was hot.
Thank you - a move back to a more ‘normal’ society. Perhaps a more rational one as well.
Plenty of good economics with this as well.
I know quite a few middle age people living with their parents. In all of the cases it is the children who are helping the parents who have become more dependent in their later years. Usually the only thing that the parents contribute to the arrangement is the only thing they own -their home.
I just spent 10 days staying with my elderly parents. The heat almost killed me. 65 degrees outside, 85 inside.
Hard to believe, Mary Ellen is 50 years old now.
There are 5 rules to financial stability:
1 Spend less than you earn.
2 Avoid debt.
3 Build in some liquidity (emergency savings).
4 Have a long term plan
5 Remember it all belongs to God anyway, and you’re only entrusted with a certain amount.
Of course, you can’t buy the latest Playstation/Wii games doing this, nor the McMansion with the 3 BMW’s,
so, what the heck, move back in with your elderly parents.
Ma Walton looks pretty good in that picture too.
Jeez...I’m gettin old.
Exactly. My mother often tells stories of her grandparents, who lived with my mother, uncle, and their parents in a 4 bedroom 1 bath house her entire childhood.
And they were the norm in their neighborhood.
“Total non-story. Multiple generations of a family living under the same roof has been a norm for people always, everywhere.”
I agree. It’s totally normal. What is abnormal is our American society of atomized individuals with weak family ties. Would you believe we even have a major presidential candidate who insulted his own grandmother in an attempt to win votes? I swear, I’m not making it up!
Don’t you just love the way they spin this junk? LOL
responsibility should have been taught before. Now it is being taught in the world of hard knocks.
Cry me a river.
The problem is that parents are living longing.
If they had died in their 60’s she wouldn’t be moving in with them.
I really don't see the connection to President Bush.
My apology , reading that after I posted, I am agreeing with you not giving you grief. LOL
Me, too!
Three years ago I bought a house with an in-law suite. My parents paid part of the purchase price and it’s where they stay 6 months of the year in the late spring thru early fall before they go to their condo in Florida.
When they’re here they buy the groceries and I pay all the utility bills. When we need a break they take a day or 2 trip to visit friends in the area if they so choose.
It’s a great life, they get to have a lot of quality time with their grandkids, and we all are richer for it.
Bush and Cheney read this article, laughing, as they ate live kittens in the secret White House S&M room...
Exactly right; I fall into that category too. I had the credit card bills, 3 loans and all that crap within 3 years of graduating highschool. I learned pretty quick that’s not how I wanted to live and changed it - over the course of 5 years and a couple bounced checks.
Do a google search under Judy Norton-Taylor. She did a playboy spread and there are nude pictures of her all over the internet. Look at your own risk, you may not think she’s too hot anymore. She’s a little chunky and could seriously use some, uh, grooming.
There are a lot of us I’d bet.
Expect Granma eating dogfood stories for the rest of the year.
Totally predictable.
Hey just add a room, put the grandkids upstairs and your kids in the cellar. Only kidding. Thank God, while we have little money we do have the room.
I presume most of these types are the hippie Baby Boomers posting on liberal websites.
Actually, kids in that age range were typically raised right - to accept responsibility. I think greed may have grabbed hold of a lot of them tho. then caught in the mortgage crunch.
FORCED?
How about an accurate headline: “families support each other during ups and downs, just as they have throughout the ages.”
We have been telling our two children since they were in Kindergarten that they are going to graduate from college, get a good career, get married and have kids. (In that order!) They can come back to visit, but not to stay.....AND THEY BETTER FOLLOW THROUGH WITH OUR PLANS!
Sadly, I have seen numerous examples of this: Parents who can't say No and adult children who think they're entitled to raid mom & dad's wallet. It doesn't end until the parents both die. If these "adult-children" have siblings who work and are responsible there is huge amounts of resentment and anger, as well there should be. It's bad bad bad....
Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations are doing that Gen-X and Y will end up paying for.
Freep mail me to be added or dropped. See my home page for details and previous articles.
My husband LOVES “the Waltons” and just TiVoed
They must live close by, many of us whose kids have moved away would love to have them back as long as they came as a family.
There is some of this happening. It might be the retired old folks moving into their child’s house and getting a job to help with the mortgage payments. I know one like that.
btt
We’ve got three kids, two 38 & 40, a third 28 serving in the US Army (for 10 years now) and the standing tongue-in-cheek joke was,”With Dad it was Graduation, a wake up and then ‘ou’re outta here!’” LOL!
they’re still out there, they know the rules...
I fell into that category myself. Was in my 30’s made bad decision cost me credit card debt, almost lost my job,lost my fathers respect.
Decided was time to grow up, took all hours I could get at job. Payed off credit cards, payed off debt to my father, got my house in order.
Within 3 yrs, was debt free, bought a place.
Started saving money.
My job is in jeopardy now, however I am in position that I can weather storm if needed.
Judging by your post you are younger than I, and learned lesson earlier than I did.
I say good for you and continue on a conservative path, serve you well in long run.
Don’t forget your towel. Want to get high?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.