‘I can’t afford to keep paying for two households’: My adult sons live rent-free in my house, while I pay for 50% of utilities in my second husband’s condo
From Dow Jones & Company:
A mother has been struggling to decide whether to ask her sons to move out of her home after trying to support them through a variety of obstacles. She originally bought a house with her now ex-husband in 2007, and continued to live there with her two sons after their divorce in 2009. Now married to a new man, the mother is looking to downsize in order to avoid impacting her retirement funds. Her family is feeling anxious about the situation, and she is soliciting advice from MarketWatch on how to broach the topic with her two adult sons.
The best solution provided by MarketWatch is to have the sons downsize to a smaller apartment, which will allow them to live independently. This will help them understand the value of money and the concept of accountability for oneself. According to the National Bureau of Economic Research, one-third of children aged 18 to 34 live with their parents as non-caregivers, but supporting adult children can also impede parents’ ability to save for retirement and is not recommended. The mother should discuss the topic with her sons in a sit-down conversation, and guide them through the process of moving out.
Read more: ‘I can’t afford to keep paying for two households’: My adult sons live rent-free in my house, while I pay for 50% of utilities in my second husband’s condo