Parents helping adult kids have to take care of themselves, too

A record high percentage of adult children are living at home with their parents, a Pew Research Study has found. In 2012, there were 21.6 million adults ages 18-31 living at home with mom and dad - 36% of that age group. Given the Great Recession from which we have not fully emerged, and record-high levels of student debt, the trend is not surprising. What the study found that is surprising (well, maybe not) is that men are more likely to live with their parents than are women.

Most parents are glad to help out. And I'd venture to say that generally speaking, it's the children, not the parents, who find the situation most onerous. Still, having an adult child living at home can put a financial burden on parents. According to The Wall Street Journal, it costs parents anywhere from $8,000 to $18,000 annually to have an adult child at home.

Eventually the vast majority of our adult children will find a job, will move on to school, move out, build a life. But when it comes to retirement, seniors are on their own. There are no loans to help with retirement! And the reality is that most children will not be as willing to throw open their doors to needy parents as their parents were for them. If you're a parent helping out an adult child, you should not neglect your own financial needs!