'We Were Not Planning On This Kind Of Expenditure At This Point In Our Lives,' How These Parents Are Dealing With Their 'Boomerang Kid'
Two parents from Sherman Oaks, California, moved their 24-year-old daughter back into the family home in early 2024. In their mid-60s, the parents, who asked to remain anonymous when speaking to CNBC, expected that they'd be closing in on retirement at this point in their lives. Instead, they're canceling vacations and delaying retirement in order to accommodate their daughter's $5,000 a month living expenses.
"We were not planning on this kind of expenditure at this point of our lives," the mother told CNBC. "The reason we do it is because we don't want to see her on the street."
The family isn't alone in having their plans upended by the unexpected return of an adult child. The phenomenon, which experts have termed "boomerang kids," has been steadily growing over the last few years.
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A Thrivent study on boomerang kids released in 2025 found that 46% of parents report that their adult children, ages 18-35, have moved back home at some point. The reasons for these moves vary from economic factors like debt, stagnant wages, and rising housing costs to personal factors like divorce or illness.
While many parents say they are happy to provide a safety net for their children, there's also recognition that it often has a significant and negative impact on their own finances. According to the survey, 38% of boomerang parents say that having their children move back in has impacted their ability to save for long-term goals like retirement.
The Sherman Oaks parents say they are feeling that pinch, to the point that it has caused tension in their relationship with their daughter.
So they've turned to parenting coach Kim Muench for help navigating their new situation.
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The move is a great first step in healing the rifts that boomerang situations can create, Muench told CNBC. "Parents sometimes hesitate to get help for themselves and invest in their health ... because they're already spending more than they would like to support their adult or emerging adult children," she says.
Ultimately, though, Muench says open and honest conversations about money and timelines are the only way to ensure the familial bonds won't be permanently affected by a return home.
She suggests starting with small financial boundaries, like asking your child to contribute towards a bill or put a set amount of money away in a savings account to mimic paying rent.
"When their son or daughter is not taking [financial responsibility] on incrementally, [parents] actually get very worried that they will be financially providing for the rest of their lives," Muench told CNBC.
"It takes consistent conversations, because it's probably not going to happen in the first conversation," she continued. "And it takes an emotional maturity level on both the parents and the emerging adult side to figure out how they can work together."
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This article 'We Were Not Planning On This Kind Of Expenditure At This Point In Our Lives,' How These Parents Are Dealing With Their 'Boomerang Kid' originally appeared on Benzinga.com
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