SBS is airing a new and an interesting series this week. Its called ‘The Nest’. This new show is about ‘Kippers’ - Kids In Parents’ Pockets Eroding Retirement Savings. Adult kids aged between 20 and 29 who continue to live with their parents are called Kippers.

According to 2006 census, 16% of people in this age group are still living their parents. Rising living costs, rising rents and rising property values are all contributing factors for this new trend. Most of these parents enjoy having their kids in their homes.

The kids need to make best use of this situation. The huge amount of money they save by living with their parents does not mean they have extra money to spend. They must use this situation to save as much as they can…..If they don’t do that then it is definitely a shame.

If their ‘adult’ kids were still not living with them, the parents would be saving every penny they can for their retirement. And now with their ‘adult’ kids living with them, most of them might be unable to save much. If the parents need to save money for retirement then they should not hesitate to ask their children for some money towards the expenses.

Topics: Financial Topics |

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