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Stuck in the Middle

Stuck in the Middle. Middle Age is Changing…. “ BOOMerang kids” Some statistics. 59% of parents are providing financial support to their adult children when they are no longer in school 50 % are giving their kids a place to live at home 48 % are helping with living expenses

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Stuck in the Middle

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  1. Stuck in the Middle Middle Age is Changing…

  2. “BOOMerang kids”Some statistics • 59% of parents are providing financial support to their adult children when they are no longer in school • 50% are giving their kids a place to live at home • 48% are helping with living expenses • 41% are helping with transportation • 35% are providing insurance coverage • 29% are providing spending money Boomerang Kids = young adults aged 18 to 39 who left home only to return to the roost

  3. Why do boomerang kids return home? • Divorce • loss of employment • temporary financial problems (example: debts from schooling) • save money to buy their first home "The general sentiment is that financial pressures are higher for this generation.“ Ted Beck, CE: National Endowment for Financial Education (NEFE)

  4. Challenges facing boomerang parents • Delayed retirement • taking on additional debt • giving up privacy

  5. Do these boomerang kids do anything? • 42% are contributing in non-financial ways • Cooking • Cleaning • child care • 75% are contributing financially to the household • 52% chipping in for food • 34% helping with utilities • 31% putting gas in the family car • 29% helping with the rent or mortgage

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