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Asset Preservation Advisors


State: GA

APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Millennial Parents Say Goodbye; Millennials Say Hello

At what age would Millennials feel embarrassed that they were still living with their parents?

| BY Donald Liebenson

There’s good news and bad news for the parents of Millennials, The good news is that on average, Millennials expect to be living independently by age 21. The bad news is that nearly two-thirds (63 percent) said they have no qualms about moving back home if they cannot make it on their own.

A substantial majority of Millennials see benefits to moving back home, according to the 2nd annual Generation Z Survey recently released by TD Ameritrade. Eighty-one percent of those currently living at home after college or planning to do so said it allows them to save money, while nearly half (48 percent) feel it allows them to be selective about employment opportunities.

But hang in there, parents. Millennials aren’t planning to make the move permanent: When asked at what age they would be embarrassed to still be living at home, Millennials, on average, said age 28, while 88 percent said they would be embarrassed to still be living at home at 30. Just about half  (49%) would be embarrassed to still be living at home at age 25.

Employment is a factor in what makes a house a boomerang home. The survey found that employed Millennials are less likely to move back in with Mom and Dad after college, while . those who have never worked are significantly more likely to want to return to live with parents (39 percent vs. 26 percent).

Uppermost on the minds of Millennials is being socked with a large student loan balance upon graduating college, the biggest concern of 46 percent of respondents, up from 39 percent last year. More than one-third (36 percent) are worried about being able to afford higher education at all. But a majority (54 percent) still believe that college is a worthwhile investment and critical to achieving success, while nearly two-thirds (64 percent) believe that college is worth the cost because it increases the likelihood of secure employment.

How do Millennials plan to pay for college? According to the survey, 68 percent are counting on assistance from scholarships and grants, while 55 percent expect to receive help from their parents. Almost half (46 percent) said they will be paying for college themselves with savings or money earned while working during college years. Forty-four percent anticipate taking out student loans.  

Belying the stereotype that Millennials feel entitled, Millennials anticipate that their first job out of college will pay a conservative $36,900, the survey found. They are expecting that their annual salary income will progress into six figures by the time they are 60.

Millennials, the survey found, have a traditional view of their futures. They chart their major life events in this order:

1. Start a job.
2. Buy a car.
3. Pay off student debt.
4. Get married.
5. Buy a home.
6. Start saving for retirement.
7. Have children.

Even Millionaire Millennials have heightened personal financial concerns, according to a recent wealth level study conducted by Spectrem’s Millionaire Corner. More than half (58 percent) are concerned about paying for their children’s education. Almost half (49 percent) fret about maintaining their own personal financial situation. Forty-six pecent worry about either themselves or their spouse losing a job, compared with 40 percent of Gen Xers and 29 percent of Baby Boomes.

Related story: Boomerang children—Many happy(?) returns. Click here to read more.

About the Author

Donald Liebenson


Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.  

A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.