Tim has two wonderfully bright, capable young adult children, the youngest of which is leaving for her freshman year of college today. In the interest of full disclosure, I will admit that I have never met Tim's children, but am judging them partially on having survived Tim's influence on their upbringing, and mostly on their choice of higher learning institution.
My hope is that all of Tim's retirement dreams come true. I wish for him breathtaking travel experiences (and I don't just mean the walking up a hill kind), and years of spontaneous, precious, heartwarming, and memorable moments with his lovely wife.
I won't point out that he, his very own self, has posted on more than one occasion, stories such as this one, that could ruin a man's plan for his golden years:
One in five people in their 20s and early 30s is currently living with his or her parents. And 60 percent of all young adults receive financial support from them.
These boomerang kids are not a temporary phenomenon. They appear to be part of a new and permanent life stage.And, in case you doubt it, a recent article points out that homebuilders are now catering to "multi-generational households". Perhaps more alarming, still, is that more and more economists think sharing a home across familial generations is a great financial strategy:
...pooling financial resources among the generations is a smart way to lower the overall cost of home ownership. That’s before taking into account built-in child care (at least for emergencies and date nights) and easy monitoring when aging parents turn frail. Shared ownership allows young adults to build up savings and the older generation to draw down less on retirement savings.Sheesh, how long before kids just assume they are supposed to move back home as an adult?