Generation Nation: The Boomerang Generation

“Generation Nation” is an upcoming podcast series from host Bobbie Battista that examines the issues, characteristics and trends that define the five generations of Georgians who now live, work and play together and the impact their integration is having on our society.

Are your kids moving back in because they can’t find a job? Have college debt? Not ready to leave home?

A recent New York Time Magazine article revealed one out of five young people in their 20s or early 30s are back living with their parents. 60 percent are receiving financial support from their parents. Compare that to a generation ago, when one in ten young adults moved back home and even fewer received financial support.

Often called the Boomerang Generation, Millennials are facing a number of obstacles in their efforts to launch independent lives. Many are burdened with the financial stress of college loans. Post- recession jobs are still hard to come by – the unemployment rate among those 18-35 remains stubbornly in double digits. Add in the high cost of living, a lack of preparation for the workplace and for some, a reluctance to just let go of the family bonds and we now have what may be a “new normal.”

So, what are families to do? Lifestyle gerontologist Dr. Alexis Abramson says set certain goals and boundaries. Consider putting a time-frame on the re-appearance of children in the home, for example. Among other things, you’ll have to discuss house rules like who pays for what, and you will likely wrestle with the question, “Can my date sleep over?”

It can be hard on both generations. Parents can feel put upon and taken advantage of no matter how much they love their children. And grown children will likely want their parents to stop treating them like…well, children.

How do Millennials feel about this? Believe me, most of them would like to move into their grownup lives as quickly as possible, but knowing the resourcefulness of this generation, they will take this opportunity to redefine an economic and social evolution. As the Times stated, these Boomerang kids appear to be part of a new and permanent life stage for generations to come.

Tags: millennials, boomerang generation, Dr. Alexis Abramson