The pitfalls of grads moving back home [CNBC]
Bryn Mawr Bank Corporation (BMTC)
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Source: CNBC
Source: John Storey John and Colleen Story with their three daughters, Becca (left), Erin and Megan. When John and Colleen Story's oldest daughter, Becca, graduated from college with a teaching degree, it was their idea that she move back home with them and save money while she got her career off the ground. They committed to a one-year time frame and set some ground rules: They wouldn't charge her any rent and there would be no curfew. At the end of 12 months, Becca had saved more than $15,000 and moved out on her own. It put her on a great financial path, said John Story, 60, and we had a lot of fun. Of course, not all experiences with boomerang kids are as rosy. Today's young adults are significantly more likely to be at home for an extended stay compared with previous generations of young adults who lived with their parents, according to a study by the Pew Research Center. Fifteen percent of 25- to 35-year-old millennials were li
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