Setting Your Kids Up for Financial Independence
The term "boomerang kids" has, unfortunately, become part of the popular lexicon to describe grown children who leave their parents' home only to return when they aren't able to achieve financial stability as an adult.
According to the Pew Research Center, only about a quarter (24%) of young adults are financially independent from their parents at age 22. This is down from about a third (32%) of 22-year-olds who were financially independent from their parents in 1980. In addition, almost half (45%) of young adults between ages 18 and 29 currently receive financial help from their parents.
