Photo: Getty Images/iStockphoto By Ted Jenkin Sep 13, 2019 7:29 am ET Ted Jenkin is the co-CEO and founder of oXYGen Financial, a financial advisory practice focused on the X & Y generations. He also blogs at yoursmartmoneymoves.com.
When my daughter graduated in May, my wife and I gave her a specific deadline: By the end of the summer, find a job, find an apartment, and find out exactly what your monthly expenses will be when you are living on your own. Of course, kicking your kids out of the house doesn’t necessarily mean that you won’t offer some initial help, but it does mean that they will be responsible for paying for their housing bills. We were steadfast that our daughter’s basic bills--rent, electricity, television, food, entertainment, etc.--would all be on her dime on her time. If she wants to shop at Whole Foods instead of Aldi, then good for her. She will just need to figure out a way to afford it.
It is somewhat like materialistic extremism on parts of parents to 'kickout' their children after completing their graduation , here it ends the bond of family relationship of love and care between parents n their children , good bye Mama good bye Papa
can’t wait until every homeowning boomer is worm food😎
Safety nets are not permanent places of residency, maybe we should extend our get tough parents to college graduate kids approach, to our social programs!
'It's your duty to capitalism to send your kids to the rentlords.'
not sure if that's a realistic timeline but ...
Careful, you're starting sound normal. You're on the verge of pitching Personal Responsibility and we can't have that. the left wing extremists will boycott you.. Better step back and focus on more government hand outs, Gender Study degrees and laziness.
As a parent you should realize that profit driven capitalist America is the reason your college educated kid can’t afford a place to rent or buy.
Wow. This needs to be said?
You, as a parent, have to be decisive about the fact that your college-graduate kid's “safety net” of living in a temperate earth is coming to an end says WSJ Climate Health Management Expert.
Opinion | WSJ Wealth Management Expert Ted Jenkin is a heartless jerk. Probably.
That is freaking horrible kicking your kid out.
This is about the level of family advice I expect from a financial publication.
Boomers always give millennials shit, when it's them who destroyed the country. The boomers grew up in a generation where the economy was so great that could work part time at a diner and buy a house. Now you can work full time and not afford rent at a shitty apartment.
If you as a parent let them borrow 50k or more to go to college then you owe them a cheap living arangement for a while.
That's not a safty net, thats a hammock
I don't get why the family unit has to break up in this country. There are many other countries that the family units stays together and is better off for it. Closer families, no need for $1000 a month day care, many other benefits.
I am the youngest of 5 kids. My parents paid my tuition and rent when I was in school and I had a job to pay for everything else: car, phone, bills, going out, etc. When I graduated my dad celebrated that he could finally cut me off 💯! 😂
When some day your retired self asks to move in so they can take of you, and they say no and put you in a home, don’t be surprised (or mad)
Don't have to do it cold turkey. Make her $ rent, put on House rules that most 20 something's hate. She should want 2 move out for the benefit of freedom & self respect if she can! If she can't, make her contribute for x time before you can't keep her because of her laziness.
I agree with the principles behind this. Teaching our children financial responsibility is, of course, of the utmost importance. At the same time however, I would want my kids to know, and more importantly, take comfort in the knowledge that should they need us, we'd be there
Asian parents don't do that. We love having our kids home with us.
Not a bad idea. My mom did pay for my school, but after I graduated, she became ill. I was 26. From then on, I'm the sole care taker, pay everything at home from service bills to food. Good way to experience the reality of life. Not easy, but I'm grateful.
Geepers Wally, thanks for the direction.
That’s okay. They’ll probably just move far away. And never let you see the grandchildren.
This is a trash take.
See the insanity of the richest 1%! My son will leave when he is good and goddamned ready! If he wants to stay to makes sure I'm ok...like I did my mother...than he stays! Michael Jackson left home at 30...and bought the Beatles and Elvis music catalogs! My son don't pay nothing!
Oooof very grateful for my parents to allow me to live at home after graduating college. I think they realize I took the burden of loans upon myself and know that it’s very financially difficult to move out even a few years after graduating
Boomers and Karen's gonna love this one
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