Q and A: 'Kidults' still living at home

Tuesday, June 30, 2015

What’s with the increase of the 20-something 'kidults' still living at home and is it a positive for the child and parent?

The active role of parenting is a longer journey today compared to the past- extending from birth, through the dependent years, adolescent years and now well into the 20’s. This has created some new social trends: the boomerang kids (the large number of children in their early 20’s who leave the parental home, only to boomerang back a couple of years later as the costs mount), the sandwich generation (today’s parents sandwiched between the time and costs of their stay-at-home adult children, and the care of their own ageing parents), and this generation of late 20-something KIPPERS (Kids In Parents’ Pockets Eroding Retirement Savings).

However for all the labels, there are some clear reasons for these delayed lifestages. The rising cost of living, housing affordability challenges, prolonged educational years and consequently larger study debts have put this generation further behind where their parents were at the same age. In addition to the higher costs, greater debts and delayed earnings are the mobile lifestyles, technology expenses and increased travel, all greater than that of their parents.

Therefore for a generation who have pushed marriage and starting a family back, from the 20-something years into the early 30’s on average, staying longer with mum and dad is not only a social option but for many a financial necessity. Based on modest rental costs, this option of staying at home with mum and dad, when compared to even modest shared accommodation costs of $250 per week represents a saving of around $15,000 per year by the time that the saving on some food and bills are included.

However, while there is a financial cost on parents, there is a social gain. Many parents in conversations with me have expressed that while they jokingly complain about the arrangement, the connection it gives with their children, the likelihood of them staying nearby as the grandchildren appear on the scene, and the many ways that it keeps parents in touch with some of the trends and changes of Generations Y and Z are all great benefits.

The key to family harmony in these new households is to ensure that parents and their payments aren’t taken advantage of, and that the adult children aren’t treated once again as dependents. A simple agreement setting out the financial contributions and domestic tasks of the family members, with an expiry date when the agreement can be re-assessed is a practical help. That way we will likely create multigenerational harmony not intergenerational conflict.


FOR MORE INFORMATION:

More on changing household structures can be found in Mark McCrindle’s book The ABC of XYZ: Understanding The Global Generations.


Welcome to our blog...

We have a passion for research that tells a story, that can be presented visually, that brings about change and improves organisations. And we hope these resources help you know the times.

Our Social Media Sites

Facebook | McCrindle Research Social Media YouTube | McCrindle Research Social Media Twitter | McCrindle Research Social Media Flickr | McCrindle Research Social Media Pinterest | McCrindle Research Social Media Google Plus | McCrindle Research Social Media LinkedIn | McCrindle Research Social Media Mark McCrindle Slideshare


Last 150 Articles


Tags

tattoos blaxland mateship Kirsten Brewer church Gen Y neutral bay year 7 video consumer house price living aged care puzzle buildings sydneysiders family etiquette recap Engineering Manager survey design teaching wellbeing ease of travel moreton bay ashley fell marriage travel conference trend tuesday define baby name digital wealth and income wages faux-ciliser Social Trend teacher easy rider coffee earning 2015 mythbusting capital cities supply and demand sector public holiday suburb children crime Christmas season wedding society middle class careers networking national crime rates celebration know the times innovative research services wealth distribution dessert financial independence darwin socialising education sector New Zeland forecast couple home ownership women millennials house builders Royals brisbane house price rise brand experience REIV National Conference workshop leadership workshop nfp professional speaker eliane miles daily commute responsive demographics participants google future-proof cars trends of 2016 JOMO conferences global generations leadership new office Territory moderators guide grandparents New South Wales Scouts social media university mobile in depth interviews poker master Wodonga monarchy google for education insights conference presentation SA students future proofing social impact housing tips McCrindle Speakers collaborative ACT entertainment January 26th English professional business index seasons engagement motivate Tasmania language Population Clock HSC urban living social enquiry quote Love environmental scanning global families social commentary suburbs marketing ACF 2016 mccrindle in the media property WA australians staying home more schools Netflix Northern Beaches Christian School investing presentations local innovation ideas school satisfaction shbc trends of 2017 Sydney keynote speaker social analysis 1980 royal family office space the australian dream Financial Planning Association of Australia work volunteers aged care resource area tertiary education 2012 hello fresh fresh cancelling event weather Charlotte omnibus results cost national private wealth New Zealand follow ageing population World Water Day salary population intern rich property price focus groups 2013 Channel Seven holiday school optimistic market research gender population growth poor communicate media commentary internet waverton Bathburst meals identity Australia Day keynote February 16 not-for-profit jobs learn weekly earnings tableau The Daily Edition publication The ABC of XYZ earn mover and shaker VIC community event TDE outsourcing equip workforce analysis demographic easter cooking growth small business interactive hornsby events product Aussie generation news safe group government life kate middleton customer high density living household optus my business awards Assistant Store Manager marriages the changing face of Sydney men finance NSW menai renter of the future experience 2016 GPO states Channel 7 brand daily telegraph housing affordability work-life Duchess of Cambridge community emerging generations office generation Z christianity social research data visualisation social change education research woolworths Northern Territory staff increasing densification vegemite school students rent global financial crisis REIV Conference student home owner alpha ACF investment Res Vis dare to dream travelling socialites future toys prince george marrickville deloitte communications local communities Australian Communities Trends Geoff Brailey research pack 2017 FOMO CBD personal growth 40 million population milestone rule keeper wage huffington post manly energy sports forecasting capital city Financial Planning Association 1994 Generation X narcissism criminal friends commute Western Australia social lives Word Up online shopping mining boom young australians social trends media release Northern beaches Event urban living index gen z optus urban taskforce vegetarian technology 1975 educated balance Financial Planning Week forum internship ipswich cash selfie not for profit Christmas lunch average aussie sydneycity baby names entrepreneurial apartment communication organisational culture royal influence paying to work spend DIY demographic transformations shopping Aussies learning stay home world youth day social commentator social issues Australians transport NEETs cost of living politics emerging trends rental stress event public speaking future proof learner property market Gen X litter cancelling plans future of work speakers proactive NT sydney speaker media activity religion city income Mark McCrindle mortgage cancel plans earnings skills PSI society trends insight non profit workplace culture training media cultural diversity panel 24 million relational program Kiwi households demographer employers Deaths qualitative research christmas educhat conference speaker tv report Christmas presents names youth unemployment facts food world pharmacy parenting Caregiver statistics rise of local townhouses aussie culture sun bureau parents economy Australian communities financial dreams domestic financial clothing ABS Myth IT Specialists teachers sector wide hobart bondi geomapping royal mccrindle research curiosity norwest researcher perth case study high density long weekend futurist healthy future urban princess charlotte social life Canberra trends analyst high school potts point resilience Valentine’s Day entrepreneurs of today affordable Hornsby Shire Council growing population offenders online visual TAS housing trends baby name predictions ethnography university degree social researcher happiness hopes 24,000,000 in the media owning a home social list sunburnt country jobs of the future mccrindle tea future of education South Australia data analyst collaboration twentyseventeen Australian demographics Merry Christmas office opening contiki entrepreneur australian social research social shifts Australian Families wealth 10 years post rationalism australian communities trends report teleworking generational trends Christchurch FPA education future report storytelling Australian Trends work mates lifestyle faux-cilising gold coast survey royal baby baby boomers staying in business social researchers real water engage national wealth financial future System's Architect Education Future Forum goal baby name trends greatness mother's day high density apartments father's day Queensland sentiments Northern Beaches environment investor debt Generation Y research data financial fears new york times going out renting Australia Day 2017 census millionth repayments sydney event unemployment sector wide study Australian Home Tuesday Trends faux-cilise pharmacies cloudy days demographic trends keynote speaker challenge wealth and income distribution relevant economic housing growth data authenticity change 23 million 1968 award retirement state EFF dreaming professional development shifts house prices millenials communities mythbusters baby career dream employment study victoria budget Queensland: QLD thought leadership priorities trend debate Wagga Wagga pyrmont Do It Yourself low density Australian Bureau of Statistics mccrindle personalities rising house prices young people Melbourne shopper's pick ageing typical australian baby boom 2020 culture Australian Dream child care organisations brands residents teach medicine slideshare thrive population map plans snapshot research visualisation newspaper generations consumerism education future crows nest visualisation home sustainable research tuesday workplace land of the middle class eliane housing market DESTEL year 12 summer SMSF suburban living Australian Census logan megatrends presentation emerging technologies affordability annual income anzac internships tea holidays Australian schools leader goals sunny days australia cold click ashley mckenzie gen alpha rain friendship Births Adelaide Real Estate Institute of Victoria Wellington 2014 Tuesday Trend acf15 schools students learning styles community engagement divorce infographic wall winter blues group session stats hills shire cartodb Research Executive village Crime Rates infographic ultimo "know the times" graphs youth fears wolloomooloo mentor australian communities forum trends Real Estate overcast winter education divorce rate meetings lalor park focus group charity generation alpha unaffordable

Archive