Episode 32: Preparing for Boomerang Kids
Nearly 55% of young adults will move back in with their parents before the age of 27, and these so-called “boomerang kids” can have serious financial implications for parents.Kathy Longo, CFP®, CAP®, CDFA®
According to the Bureau of Labor Statistics, nearly 55% of young adults will move back in with their parents for a period of time before age 27. These ‘boomerang’ kids often return home while they look for work, while they save to buy their own home, or while they pursue higher education. Regardless of the reason, this scenario has financial implications for parents and it may require taking measures to protect your own financial health.
Don't forget to visit https://flourishfinanciallychallenge.com to login and track your progress. Complete fifty challenges and you will receive a free hardcover copy of Kathy Longo's book, Flourish Financially, as well as a customized Amazon Echo Dot. For more information about Kathy, her firm, and the great things they are doing for people like you, visit www.flourishwealthmanagement.com Don't forget to leave a review on our Alexa skills and keep Flourishing!
About the Author
Kathy Longo brings over 25 years of expertise and experience to Flourish Wealth Management. Kathy is wholly dedicated to improving the life of each client and finds joy in making complex matters simple and easy to understand. She excels at asking the right questions, uncovering new possibilities and implementing the most advantageous strategies for success. Playing such a pivotal role in her clients’ lives remains an honor and a privilege. After earning a degree in Financial Planning and Counseling from Purdue University, she began her career at a small firm in Palatine, Illinois where she worked directly with clients while learning to build a viable, client-centric business. Over the years, she gained extensive knowledge and wisdom working as a wealth manager, financial planner, firm manager and business owner at notable, various sized companies in both Chicago and Minneapolis.