Boomerang Kids

For those of you empty nesters with children in college, we have a word of caution for your financial planning. A survey by jobtrak.com reports that more than 60 percent of college students plan to return and live at home after graduation. Among all respondents, 26 percent plan to stay at home for up to six months and 11 percent will hang around for seven to twelve months. And, you have a 24 percent chance that your college grad plans to live with you for a year or more. One reason given for these plans is that many have borrowed to get through college and realize that it is cheaper to live at home than to go out on their own. Are you ready for this?