I was at dinner with a colleague and his five children the other evening. Most of his kids, like mine, are in their twenties, living at home, or trying to launch with varying degrees of success. Comparing notes—my five children are between the ages of 21 and 31—we remarked on how different this period of life is now from our own experience at that age. Where we could expect to buy a home that was four times our annual salary, our children can expect to carry a mortgage seven times theirs.
My conversations with many parents have confirmed a few things that we should expect when caring for a twenty-something:
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