I asked a few of my friends whether they had heard of the Boomerang Generation. Although the phrase was unfamiliar to them, when I described what it meant, several of them quickly remembered someone who was live proof of the term. The Boomerang Generation is a term used by the media to characterize the present generation of young people (aged 18 to 35) who are not financially independent and opt to live with their parents after living on their own for a period of time.
According to the Pew Research Center, 13% of parents with grown children between the ages of 25 and 34 had an adult child living at home. The percentage of college graduates who return home after graduation and live with their parents has risen from 42% to 52% in the last four years.
The biggest contributor to this tendency has been the economy. Many adult children returned home to see out the slump. And what began as a temporary “crash pad” has turned into their permanent home. According to a Pew Research Center examination of Bureau of Labor Statistics data, 37% of 18 to 29 year olds are jobless or out of the labor market completely. However, it is not simply the jobless who are returning home. A sizable number of boomerang children are returning to the nest or accepting parental assistance to help them create professions, pay off educational loans, or heal from divorce.
The topic of boomerang/delayed home departure has sparked several questions and debates. Critics of the practice, such as Kathleen Shaputis, are worried about the harmful impact on adult children’s financial and social independence. It has been claimed that young people who return home after being unsuccessful in their job search typically become more inactive in their job search, particularly if they continue to be financially supported by their parents. Many young people find it challenging to adapt to their parents’ domestic expectations after coming home from the unrestricted freedom of college life. Parents are also becoming aware of the need to learn how to handle a new and different family structure.
Though intergenerational cohabitation might be difficult, many people who have participated in the arrangement have found it beneficial. The arrangement forces everyone concerned to interact and compromise in ways they didn’t when the kids were little. It may help the young person financially while also benefiting the parents. In many cases, the young person keeps all or virtually all of his earnings. Making a mutually beneficial agreement leads to strong adult relationships between parents and adult children.
If you have an adult kid who has wanted to return home or a boomeranger living with you, it is not too late to set some ground rules for a smooth transition. First, discuss the return home. It is a chance for you to discuss the changes you have experienced since your kid moved out, as well as to hear about the changes your child has experienced. You must be at ease and optimistic about the situation, and before making a final choice, consider the following advice.
Set a time limit: Define mutual expectations for the estimated amount of time for the boomerang child to come home, whatever the circumstances are. Will this be a three-month or a year-long stay? Discuss mutual expectations regarding house rules and obligations, in addition to the time restriction. This should be a two-way dialogue, not a parental proclamation.
Discuss rent and other financial contributions like food, phone, and other other expenses. Approximately half of the boomerang kids pay rent ranging from $200 to the market rate. Some families begin with a low monthly rent and gradually increase it as the months pass. Some families have acknowledged to charging rent but saving the money as a nest egg when the adult kid moved out.
Setting a curfew for a fully-grown, independent adult may seem ridiculous, but it is necessary to discuss and agree on a set of home rules, especially when it comes to topics like late nights, relationships, drinking, and overnight guests.
Decide on domestic tasks, such as cooking supper one night a week, grocery shopping, yard maintenance, or cleaning. A talk of this kind is necessary; otherwise, it is all too easy to revert to the mom-takes-care-of-everything routine.
The key to a happy home will be communication. Expectations, tasks, and funds should all be discussed openly between parent and adult kid. One of the key reasons for welcoming your adult kid into your house is to encourage independence. To attain that aim, each family will work in a different time period and with varying amounts of assistance. You will need to be aware of what works best in your family so that you do not feel resentful of the circumstance and your boomeranged may gain independence.