If junior is living in the basement after losing his job or not being able to find one in the first place, consider yourself typical. It's an increasingly commonplace retirement planning dilemma.
According to the U.S. Census, the percentage of men age 25 to 34 living in the home of their parents rose from 14 percent in 2005 to 19 percent in 2011. Daughters did better -- 8 percent lived at home in 2005; 10 percent in 2011.
For younger offspring, the numbers are even higher with 59 percent of men age 18 to 24 and 50 percent of women that age living in their parents' homes in 2011. College students who only live part of the year in the dorm are included in these numbers.
It's hard to think about kicking your kid out when jobs are so hard to find, but if he has become a permanent fixture on the couch and he's getting in the way of enjoying retirement, here are some things to consider:
- Working a McJob isn't the end of the world. These jobs may not pay very well, and you may have to kick in a few bucks if you want your kid to get one and move out. But everyone might be better off in the end if it leads to permanent employment. And it could -- somebody has to be the manager.
- Push him to look hard for a job that he wants. Personally, I've found nagging to be very effective. Daily emails and other messages from you about possible job opportunities may be enough motivation that he'll get moving in a direction that he finds more appealing than any idea you could ever come up with.
- Give him a job. If your son isn't going to go to work someplace, he can take over lots of responsibilities at home -- cooking, cleaning, washing, yard work. A couple of weeks of this and McD's will look a great opportunity.