In recent years, the number of multigenerational households continues to increase. In 2014, 19% of the American population lived with multiple generations under the same roof. These households contain two or more adult generations or both grandparents and grandchildren. There are some economic benefits of living with parents or grandparents, including keeping a roof over your head after losing a job and repaying debt like student loans. It is important, however, for multigenerational households to discuss financial responsibilities and have budgeting tools in place.
See Ann Carrns, Multigenerational Households: The Benefits, and Perils, NY Times, August 12, 2016.
Special thanks to Naomi Cahn (Harold H. Greene Professor of Law, George Washington University School of Law) for bringing this article to my attention.
