Friday, 26 February 2010

  • YUCKIES: Young Unwitting Costly Kids



    Who are YUCKIES? They are Young Unwitting Costly Kids—18 to 30 year olds who won’t (or can’t) leave the family nest behind, citing an inability to be financially independent. They feel it’s the norm for their parents to pitch in and support them until they get on their own two feet.

    In England, YUKIES are a significant financial strain on their aging parents. A survey by The Children’s Mutual of 1,500 families finds that 30% of parents remortgage their house to pay off student loans and debts as well as help with a down payment on a first house for their children. These “golden goodbyes” cost an average of $50,000 per household, jeopardizing or delaying retirement plans for many parents.

    The families in this survey had just one message for parents whose children are still young — save, save, save!

    Do you feel parents should help out their 18–30 year children after they finish their education?

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  • redhairedgrrl@xanga
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