Who Will Support The Empty Nesters?

By on October 14, 2019
Empty

When a child moves out of the home, it can bring a wave of emotions for parents. As an empty nester, it may be difficult to watch your children fully enter adulthood, but it can also signify the beginning of new experiences and lifestyle opportunities for parents. It seems that most of those whose kids have moved out haven’t really moved on!

Empty nesters are still financially tied to their children, according to the latest study of 1,800 parents whose adult children have left the “nest”. The numbers are staggering of how many young adults are still being supported by their parents. We have to ask the question, who will support the empty nesters as they moved into medical frailty and full retirement?

40% of the present empty nesters are still financially supporting their adult children in some capacity. In fact, the average empty nester spends $254 each month on their child. Survey highlights include:

38% have had an adult child move back in after moving out

Millennials have been known to live longer with their parents than previous generations. What’s even more surprising is how many kids are moving back in after they moved out. According to respondents, 38 percent had their child move back in and nearly 60 percent think their child or children will move back in again at some point.

1 in 4 still pay for their children’s cellphones

It seems that parents who have been paying for the essentials for so many years have just adopted these expenses into their budgeting. While the parents pay for the essentials, the children pay for the luxuries.

Maybe it’s no all the kid’s fault!

66% of the women over 50 respondents in the survey shared their experience of “empty nest syndrome” or a feeling of grief and loneliness since their children moved out of the house. With the parent’s lives so focused on the activities and lives of their children so so many years, it is understandable to experience some level of loneliness and lack of purpose.

As your children move on, it is a great time to re-connect with your spouse and take on new hobbies. You should have the additional resources to spend on yourself again. Plan time away with your spouse, and enjoy your new-found freedom.

 

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Who Will Support The Empty Nesters?