<p>My son is planning on moving back home when he starts his job and we are thrilled! </p>
<p>He will be working upwards of 60 hour weeks (reportedly) and there is no reason to be paying rent for a place that you are just laying your head at night when he can be at home rent free and saving his $$$. When he decides he wants more privacy, he will move, but until then, we welcome him with open arms! (now, check back with me after a while and see if my opinion changed LOL)</p>
<p>To me this is a trend that young families should pay attention to. In addition to saving up money to send their kids to college, it makes perfect sense to save up money to buy them a house while they are attending. Though i believe that living in the dorms for freshman year is a great thing because you make lifelong friends. I personally believe if at all feasible that parents should try to buy their children houses in the college towns that they live in. </p>
<p>These houses can provide much needed passive income by the kid renting out rooms in the house if need be during college. It can also provide a place to live after graduation or the capitol to buy a new house in the town of their choosing on landing their first job. You should really talk to your accountant about this approach, i was able to buy small but nice $100,000 houses for each of my four children and received huge tax breaks from each.</p>
<p>My accountant very wisely had me start looking around. The thing you need to ask yourself is now that the kids are grown will you really use that beach house? How about the ski cabin. I was able to sell both of our vacation homes as well as our boat and sloop. Only once did I ever hear anything from one of the kids about wanting to use any of it while they were in college. It was our youngest daughter and she wanted to take some friends up skiing and they thought they would stay in our cabin to make it more affordable. I let her charge a suite at a nice hotel instead on her emergency credit card and who knows how many packed into that room. She had a whole lot more fun than she would have staying in our old rustic cabin.</p>
<p>Just remember this is the last time that you will ever have kids with 0 income so your gifts will not be taxed outrageously. It is a great time to start looking at creative ways of moving capitol and property from you to your children. More than likely you are making more now than you ever have before, and before long it might become an obsession to move as much as possible into your children’s name so that they are able to start their families out in a good way.</p>
<p>“there is no reason to be paying rent for a place that you are just laying your head at night…” </p>
<p>I think this is called “room and board.” Paying rent teaches the child the value of a dollar. Everyone should pay for the privilege of having a bed to sleep in at night. And what about the water/gas/electricity he uses?</p>
<p>I think we need to state what it used to be like 50-100 years ago when different generations all lived in one house to today when a 22 year old returns home to his/her parents house. Years ago, if someone in his 20’s lived at home, he would contribute financially to the household. Often his paycheck would be turned over to him mother like his father would turn over his pay to his wife for the household expenses. I don’t think today’s 22 year thinks of that! The reason so many of us adults distain the idea of college graduates moving back in with their parents today, is because the graduates think they’ll live at home rent-free; with no financial responsibilities for food, clothing, gas, electricity, water, car payments, etc. This is not the way to raise a financially secure person, in my opinion. If a college graduate returns to the family home, the parents should sit him down and go over the monthly finances and state how much they expect the graduate to contribute to the upkeep of the household.</p>
<p>I would only ask my kids to contribute if I actually needed it. Hopefully, never. A cultural thing, I agree.</p>
<p>I understand the reluctance to ask the kids for $$ if the family household is not in need, but I also resent the sensse of entitlement - - that they should have adult priv w/o any adult responsibilities. Why shouldn’t a recent grad pay for a portion of the household staples, in addition to specialty food s/he asks Mom to purchase - - and how about taking a turn DOING the household shopping (not the bill, just the schlep)? </p>
<p>An important part of the transition from adolescent to adult is the realization/understanding that the paycheck has to do more than finance your recreation – so a recent grad should certainly make some financial contrib to the household (even if the parents keep the money in an account as forced savings).</p>
<p>Confirmed! Just saw on FB that S1 intends to move to San Francisco after graduation in May. Time to plan that bedroom re-do and invite some guests for next summer.</p>
<p>The thought that one day they will all be self sufficient and on their own is wonderful! For now we are taking it a step at a time before the big push comes to get out into the adult world. The youngest kids are the ones that seem to need the most growing up in my house.</p>
<p>Our Spring 2010 grad just moved out! He is in a so-so job (Montessori teacher) and shares a sketchy house in Seattle with several other roommates, but you gotta’ start somewhere! So the stats are now down to 84.9999%</p>
<p>Huzzah for ALF!</p>
<p>I’m a student age 23 and this doesn’t surprise me. My brother(Engineering degree) and older sister(Law degree) have moved out. I will have a BA Econ(useless) with an above average GPA, internships, work experience, time abroad, etc. and I probably won’t make above $40,000 a year. This will just barely cover loan repayments and food so renting an apartment just doesn’t seem logical or doable. The thing I am depressed about is not the fact that I will be living at home but more so the fact that I took college and my coursework seriously and as a result I am no better off than the people who did not. I guess this sort of economy will just separate the men from the boys. The inevitable reality is that if you have a BA then this means most employers think you less productive than the students with BS/Engineering degrees. I also have skills in programming, web design, and similar but it doesn’t matter since I couldn’t compete with a CS graduate.</p>
<p>
Make that 84.9998%</p>
<p>My son moved back and has been job hunting. Just found out he has a job in Charleston. Will be moving in a couple of weeks. Long way away 
but so happy for him :D.</p>
<p>To Buba001. The problem isn’t your degree, it’s your attitude. My kids have (a) jobs and (b) poli sci degrees. Both are fully employed, and have been since immediately upon graduation. D. earns under $40K & is living on her own (in an apartment shared with other 20-somethings) in Manhattan, quite comfortably from what I hear. And she just graduated last spring… right into the current recession & job shortage. S. has been working a little longer, and makes a little above that $40K, living on his own and supporting a wife & new baby on his salary. </p>
<p>Of course if you have a “can’t” attitude from the start, view your degree as worthless and fretting over the “competition” from people who have technically-oriented degrees, and figure that you’ll stay in your parents’ home until something magic comes along for you… well,that’s where you will end up. </p>
<p>On the other hand, if a $40K salary will barely cover food and loan payments, then you borrowed way too much to get through school. If that’s the case, then maybe that 85% figure has a lot to do with students saddling themselves with too much debt to get through school. I don’t know what to say to that… my son minimized his debt and paid the balance within 6 months of graduating, my d’s debt is higher, but still limited to subsidized Stafford loans.</p>
<p>"in Manhattan, quite comfortably from what I hear. "</p>
<p>so you haven’t actually SEEN the comfie apt, have you? ;)</p>
<p>Its clearly possible to live on 40k. Its easier in some places than others, and easier with fewer loans than without. </p>
<p>Im still a bit stuck on why living at home is so terrible.</p>
<p>bubba is fortunate that his parents live in a city where he can get a 40k job, and spend most of his salary paying down his debt. Over time he will pay that off, his salary should increase, and the economy should (eventually) pick up. </p>
<p>I think his disappointment may be that he studied hard, high GPA, and others who didnt have equal jobs. thats a real issue IMO - do your particular strengths match your field. Clearly there are fields where being sociable, being a party type person, is going to pay off more than being a wonk. If you ARE a wonk, its not necessarily a bad idea to choose a wonkish field.</p>
<p>calmom - I totally agree with you and thank you for saying it so well. The pride of succeeding on your own far outweighs the sacrifices of living on your own.</p>
<p>brooklynborndad - What is quite comfortable to a 50 year old is very different than what’s comfortable to a 22 year old. I couldn’t live in any of the apartments I lived in in my 20’s but boy was it fun!</p>
<p>I know it’s me but kids today are spoiled and pampered beyond their work entry budgets.</p>
<p>To Brooklynborndad - I’m sure my d’s bedroom is quite small, but her bedroom in my house is also very small. I don’t have to see my d’s apartment to know that she is happy with the situation. Her idea of comfy might be different than mine-- but its more likely that we both have a different view than yours. </p>
<p>I didn’t say that living at home was bad for someone who WANTS that. Certainly if the parental home is ample and the individual expects to look for work within an easy commute distance of the home, it makes as much sense as looking to live elsewhere. It also certainly makes sense for unemployed grads to park themselves there while looking for work elsewhere.</p>
<p>But I was responding to the poster’s poor-me attitude: I will have a BA Econ(useless) … I probably won’t make above $40,000 a year… I am depressed about … the fact that I took college and my coursework seriously and … am no better off than the people who did not … if you have a BA then this means most employers think you less productive than the students with BS/Engineering degrees. </p>
<p>There is a difference between a kid who expects to come home from college for a few weeks while diligently looking for employment, expecting to move out of the family home as soon as the job is lined up. And I think a kid who decides from the outset that their degree is “useless” or scoffs at the idea of a $40K starting salary is hampered by their own attitude-- that person has given up before they even started. In other words, while that kid is bemoaning their wasted degree … some other kid with a less “marketable” degree and less impressive GPA has already leaped ahead on the job-hunting front, sending out resumes & interviewing, networking, etc. – in the end the go-getter will be the one who ends up with the job, not the person who demeans their own credentials and doesn’t make an effort because of an attitude of, “I probably won’t get the job anyway, so why bother.”</p>
<p>I will respond in PM.</p>
<p>(I couldn’t edit the post above)</p>
<p>Despite my pessimistic nature I don’t think I will be unemployed after I graduate. I currently have not graduated yet so acknowledging the possibility that I could live at home is just being logical. This is good that both your son and daughter are employed and she is making 40k with a political science degree(Which I wouldn’t have computed as statistically likely until I factor in Manhattan, NY). I see no reason to argue about the way that I think. I worked six different jobs while in college and I woke up at 7am today to apply for jobs. I don’t necessarily think that “I cannot get a job, I am useless.” But acknowledging that my degree isn’t very useful in a market flooded with unemployed BA holders is being realistic. I don’t think this is a poor attitude, I think it is reality. Can I get myself out of this reality? Of course I can. It seems as if you automatically assume that I haven’t been diligently looking for employment and/or gotten interviews(Both of which I have been doing). Albeit if calling my BA in Econ a useless degree means that I need an attitude change it is most likely in personal disappointment from not majoring in engineering.</p>
<p>
</p>
<p>I’m sure you have a lot of students who studied much more than I did. A lot of the engineers with high GPA’s spent almost every weekend in the library. I think they are employed now though. As you suggest I would get angry if I was no better off than the people who majored in whatever was easy and never studied. Similarly as the engineers would get angry if they are no better off than the students who only spent moderate time in study.</p>
<p>In direct reply to the title of this thread my initial thoughts are:</p>
<p>This is b/c they love us so much, right!</p>
<p>Ah…not really.</p>
<p>What an awful prospect for parents and students alike-- but clearly the students get the worst end of the deal. What a disappointment to be unable to go forward and begin their adult life, being financial independent and enjoying life after four+ years of hard work. So sad for these young adults indeed.</p>
<p>Parents- it’s probably not that bad-- we get free help with the lawn, snow removal and household projects (for which some of us might be too old) such as climbing ladders and cleaning the gutters and replacing roof shingles.</p>
<p>Enough sarcasm-- this is very sad for everyone all around.</p>
<p>
</p>
<p>I have a hard time with the confounding of a BA in econ with an engineering degree. It’s an apples & oranges comparison – if you wanted to be an engineer than, yes, you should have opted to major in engineering. But if your aptitudes and interests leaned toward econ… then engineering would make no sense. </p>
<p>Maybe your post is merely reflecting the angst of a college senior worried about the future … but it simply isn’t realistic to characterize a bachelor’s degree in anything as “useless”. The job market is better for people with degrees than without it – and $40K is a very reasonable starting salary for a recent college graduate. </p>
<p>I mean… instead of thinking about what you think is wrong with your degree… why don’t you focus on figuring out what type of job you think you might want and would be reasonably qualified for when you graduate? And consider where you want to be geographically – certainly if you want to return to your hometown, then returning home makes sense for you. But my d. felt her best options were in NY or DC, so she concentrated her job search there – and she was much better off being there in terms of availability for job interviews.</p>