And just when you thought it was safe redecorate the kids' rooms.
Baby boomers have reclaimed their independence with empty-nest housing, but a survey released Tuesday shows that some "boomerang" children of the boomers may re-feather these empty nest in the near future.
According to a survey by Harris Interactive for Pulte Homes, the "Flower Children" of the '60s are fast becoming 21st Century "empty nesters" with many voicing the expected view that they are ready to reclaim their independence.
The Harris/Pulte survey revealed some of the following attitudes.
-- 71 percent say parenting was a wonderful experience, but it wasn't easy; roughly 19 percent admit it was more challenging than they expected; 58 percent are emotionally prepared for the kids to leave the house.; 57 percent feel an increased freedom to be themselves; 26 percent felt "like a newlyweds once again" after the kids left home for good; and 36 percent will move to a new home when they become empty nesters.
But though lauding their new-found independence, the survey also showed that 25 percent of baby-boomers expect their adult children to move back in with them at some point for a temporary amount of time. However, of that group, 28 percent say the free ride is over and they plan to make these returning children pay rent.
Also, of those boomers polled, 15 percent report that they have grown children who already returned to the nest. These so-called "boomerang kids" are a growing social phenomenon.
The AARP notes that the baby boom generation, that cohort of Americans born between 1946 and 1964, "has long commanded the attention of demographers, politicians, marketers, and social scientists. Seventy-six million strong, baby boomers represent the largest single sustained growth of the population in the history of the United States. Their mass alone has had an enormous impact on the national psyche, political arena and social fabric."
Harris Interactive notes in the survey that this huge population boom came after American soldiers returned from World War II and prior to the widespread use of birth control in the mid 1960s. As America's 76 million Boomers move from parents, to empty nesters, to retirees, to old age, they continue to have a profound impact on social, political and economic issues.
Julie Tillson, 57, a high school teacher, has experienced the boomerang phenomenon first hand. After going away to college for several years, her daughter returned home. "Stephanie moved back in with us for three months," Tillson said. "She needed to because of financial reasons. She felt like a failure and it was hard. But by the time she moved out again, we were sorry to see her go."
According to U.S. Census figures, currently more than 25 percent of Americans ages 18 to 34 live with their parents. And these numbers may increase too -- with one job search Web site reporting that 62 percent of college students say they expect to live at home after graduation.
Other findings on "boomerangs" by the survey, included that: 65 percent of respondents reported that they would "be happy" to help if their grown kids needed to move back in; almost one-fourth (23 percent) would feel "obligated" to help; and of parents eager to find other living arrangements for their adult children, fathers (33 percent) were more likely to do so than mothers (14 percent).
Also, demographers are also beginning to view boomers as a possible "sandwich generation" with the empty nest rapidly getting crowded again not only from the returning boomerangs but also from aging parents who made need assistance in the form of living with their boomer children.
The survey found that 24 percent of boomers anticipate that their parents or in-laws will move in with them; and about one-half say they would be happy to have their parents or in-laws move in; 51 percent say they would feel obligated to help.
The majority of boomers surveyed look forward to having grandchildren. However, the survey found that feelings are mixed about baby-sitting those grandchildren for an extended period. Of those surveyed, 38 percent would be happy to baby-sit for more than two weeks, and 28 percent would be unhappy to baby-sit that long.
Boomers are looking forward to retirement, the survey reported that 23 percent plan to spend their retirement on wellness and health; 22 percent responded that they plan to spend on traveling; 19 percent plant to spend retirement relaxing, and 16 percent want to work toward becoming debt-free.
Also, of those polled, 23 percent said the best word describing their view on retirement is "free-tirement, while 36 percent think that they will have enough money to live comfortably in retirement.
However, 40 percent of respondents are not sure if they will have enough money to live comfortably; 25 percent do not think they will have enough money.
Nearly a fourth of respondents (21 percent) think between $500,000 and $1 million will be enough for retirement; 20 percent said it would take from $1 million to just under $2 million. Under half, or 40 percent, said they believed their children will be better off financially than they were when the children eventually become empty nesters.
Harris Interactive conducted the online survey between April 29 and May 3, 2004 among a national sample of 1,174 U.S. residents aged 40-70 years old.
(Pulte has been conducting annual baby boomer surveys since 1996.)
Pulte Homes, Inc., based in Bloomfield Hills, Michigan, has operations in 44 markets across the United States.
