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Reverse-Boomerang Effect Coming to a House Near You?


Chapter 13: What You Can and Can’t Do with This Designation

March 05, 2023

As people age, they often find that their living situations no longer meet their needs. Whether it's due to health issues, financial constraints, or a desire to simplify their lives, older adults may choose to move in with their adult children. This phenomenon is known as the "reverse-boomerang effect," and it has become increasingly common in recent years. While this can be a great option for some families, it also requires careful consideration and planning to ensure everyone's needs are met. Here are six things to consider in preparation for a reverse-boomerang:

1. Have open and honest conversations

Before making any decisions, it's important to have open and honest conversations that involve both parents and siblings about the possibility of them moving in with you. Discuss expectations, boundaries, and concerns that everyone may have. Be sure to listen to needs and wishes and try to find a solution that works for everyone.

2. Create a living space

Once it is decided that your parents will move in, it is important to create a living space that meets their needs. This may mean renovating a spare bedroom or adding an extension to your home. Be sure to consider their current and future mobility and accessibility needs when designing the living space.

3. Establish routines and expectations

Living with parents as an adult can be an adjustment for everyone involved. Establishing routines and expectations can help make the transition smoother. Discuss meals, chores, and other daily activities, and be clear about each person's responsibilities.

4. Consider their healthcare needs

As people age, their healthcare needs may become more complex. Consider whether you will be responsible for coordinating their medical care or if they will continue seeing their own healthcare provider. If they have ongoing medical needs, you may need to make modifications to your home to accommodate them.

5. Plan for socialization and independence

Living with adult children can be isolating for parents, particularly if they moved away from their own community. Be sure to plan for socialization and independence by encouraging parents to maintain their hobbies and interests, and help them connect with local organizations or social groups.

6. Discuss finances

Moving in with adult children can have financial implications for both parties. Discuss how expenses will be split, and whether any financial support will be provided by either party. If you are planning on making renovations to your home, be sure to budget accordingly.

The reverse-boomerang effect is a growing trend that reflects the changing nature of family dynamics and the challenges faced by older adults. While it is not without its challenges, it can offer a sense of security, comfort, and intergenerational support. As the population ages and economic pressures continue to mount, it is likely that more and more families will choose to embrace this trend and explore the benefits of living together as a multigenerational household. Ultimately, the decision to have parents move in with adult children should be made with the best interests of everyone involved.

If you would like to receive more information on making smart money moves for your future, be sure to contact us today!


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About the author

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Eric Pucciarelli

Managing Director, Private CFO®

Eric Pucciarelli, MBA, CRPC
Managing Director, Private CFO™

Eric is a native of Atlanta, he graduated from Georgia Southern University with a bachelor's degree in Business Management and a Master's of Business Administration.

Eric's credentials include:

  • Series 7 (General Securities Representative);
  • Series 66 (Uniformed Combined State La;
  • Masters of Business Administration;
  • Chartered Retirement Planning Counselor;
  • Past board member of the Georgia Southern Alumni Association.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. Investor Disclosures: https://bit.ly/KF-Disclosures

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation.

Background and qualification information is available at FINRA's BrokerCheck website.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. https://Bit.ly/KF-Disclosures

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