If you are like me, you are still housing at least one of your children who has graduated high school, perhaps even College or beyond. We are certainly not alone. National statistics indicate that more than 60% f Generation Z still lives with one or more parents.
The reasons for this certainly make sense. College loans are saddling young adults with substantial monthly payments, buying a house requires money in savings for a down-payment, and rentals are hard to find and more expensive than ever. Life in general seems to cost more in many areas.
This is not a failure on our part as parents. In fact it I believe it is an indication of a couple of positives for each of us. First, we are able to provide a place for them. I know my children would have preferred more privacy, but the roof over the head is a reasonable substitute. Secondly, they are willing to stay with us in spite of the discomfort of perceived interference in their lives. Third, we are providing them with the opportunity to pay down debt, and save for the future.
Even if our children leave the nest, but feel compelled to return, I believe we are the generation that has been prepared to handle the financial burden and the crowding. We understand sacrifice, having that modeled by our Greatest Generation ancestors. And we have been taught to love unconditionally, something that the current culture is trying to stifle if not outright destroy. What a great time to model both of these for their future benefit.
I encourage you to be open to this possibility. Sure, it may push out your plans to downsize or travel more, for example, but it does so much to benefit your offspring that I hope you see it as worth the cost.
In the meantime, if this means you might be staying put for a while, consider looking into refinancing to a lower rate or shorter term. Use this time to pay down your own debt or close in on paying off your house while rates remain low.
As in our own house, grace is needed, so I wish the same for you.
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