Reply to Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Her advice makes sense for people who grew up poor, made it to the middle class, and are terrified about being scammed or wasting/losing their money. Which makes sense based on what she's shared about her background. And it is good advice for a lot of people. But it would not work for everyone. Things like paying off her low-interest mortgage early are emotionally comfortable but not economically wisest. Having kids live at home is good for some families, but not all.[/quote]

It's a really sad state of your relationship with your kid if "it's not good for you" to have your 23 yo kid living at home, if you have space.

We don't have the space (downsized to a 2 bedroom condo as soon as last kid went to college---had been planning that for 6+ years).  So it's tight when kids are home from college.  If one gets a job in our area (VHCOL) we will help them with rent, if needed, the first few years.  We would even rent them a place in our luxury condo building (one of the top 3 buildings in the city) if it works with job location---so they are close by yet independent.  But if we had a 3-4 bedroom place we would let them live with us.  All while giving them their independence and encouraging them to save $$$.

[b]I guess I just don't understand why you wouldn't want to let your kid live at home if you could.  They can still become independent adults, and are well on the way to doing that if you let them. [/b][/quote]

+1 I'd be happy to have my kids live at home for a couple years, assuming they are actually saving money and being good contributors to the household. I did a short stint home with my parents right after graduation, moved out to an apartment that was really too expensive, moved back home for a bit to save money, and then moved out for good. My sister did the same.

The scorn for this is similar to how some people react about students living at home during college. It works for some people. No, it's not the same experience as living on campus and you need to be more intentional about getting involved but can be the smart financial choice.

My BIL and SIL had their three grown children living with them into the kids' mid-20s and I know it drove them a little crazy. But they are now all late 20s/early 30s and all own their own homes, two are married with kids, one has his own business. A few extra years to get established help launch them to solid adult financial lives, didn't hinder their independence.[/quote]

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