64% of parents aged 55-60 have children living at home because of slow economic growth, the high cost of living and unemployment.
Research shows that 64% of middle-class parents aged 55-60 have children living at home because of slow economic growth, the high cost of living and unemployment.
Despite a slight reduction in the official unemployment rate in the first half of the year, joblessness is not only affecting young people but also parents, who have to bear the financial responsibility for their children a little longer.
“This means the empty-nester stage, when adult children become independent, appears to be happening later, leading to parents bearing financial responsibility for a longer period,” Paul Egan, managing consultant at the institute and co-author said.“At the same time, the study found that nearly two-thirds of middle-class individuals aged 55 to 60 expected their financial position to improve over the next five years.
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