I am a firm believer that parents should never, ever, ever (is that clear enough) take on debt to support their adult children. It does not make financial sense for a generation nearing the end of its earning years to take on debt to support a generation with a full working life ahead.
That said, I know that some parents don’t heed this advice. They DO take on debt to support their adult kids, and they may find themselves in way over their heads.
If this has happened to you, you need to get your financial situation sorted out. John Skiba of Skiba Law Group has written an article explaining how to proceed with bankruptcy if you find yourself in this situation. You can find his information here.
Are your adult children "yuckies"?
Another new acronym has been coined to describe adult children living at home: yuckies. It stands for Young Unwitting Costly Kid. The interesting thing is that so many of the adult children who still rely…
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One Philadelphia neighborhood is changing its parking regulations. Several factors have led to the decision, among them the fact that the recession is forcing more adult children to move home, and they need a place…
Adult Children in the News
AdultChildrenLivingatHome.com has been featured in a number of news stories lately -- further evidence that multi-generational living is a growing trend. You can find information about all of my work with the media on the…