What to know about the boomerang generation

The term boomerang children are used to describe adults who move back in with their parents after a period of living on their own. Though the reasons for it vary, this phenomenon is becoming increasingly common.

A growing trend
According to an analysis of census data by the Pew Research Center, about 15 percent of millennials and 10 percent of Gen Xers were living in their parents’ home in 2016. In fact, for the first time in more than 130 years, adults aged 18 to 34 were more likely to be living with their parents than with a partner in 2014.

In many cases, adult children return to their family homes for economic reasons. They may earn low wages, have high debt, or want to save money. A breakup, return to school or the pandemic may also be influencing factors.

Tips for cohabitation
When adult children move back in with their parents, a period of adjustment tends to follow. One way to keep the peace in this situation is to clearly outline the responsibilities and boundaries of each member of the household. Expectations regarding chores, money, and privacy should be clearly defined. Additionally, parents should establish upfront to what extent they’ll support their child financially. To ensure there are no misunderstandings, it can be a good idea to put the agreement in writing.