source: USA Today

Economy compels some to move home with parents

After being laid off from her job as an events planner at an upscale resort, Jo Ann Bauer struggled financially. She worked at several lower-paying jobs, relocated to a new city and even declared bankruptcy. Then in December, she finally accepted her parents’ invitation to move into their home — at age 52. “I’m back living in the bedroom that I grew up in,” she said.

Taking shelter with parents isn’t uncommon for young people in their 20s, especially when the job market is poor. But now the slumping economy and the credit crunch are forcing some children to do so later in life — even in middle age. Financial planners report receiving many calls from parents seeking advice about taking in their grown children following divorces and layoffs.

Some of Erickson’s clients are giving as much as $50,000 at a time to their kids, many of whom have overextended themselves with big houses or lavish lifestyles. And the sliding economy might threaten their jobs.

Anna Maggiore, 27, lost her job as a publicist in Los Angeles about three years ago and moved into her parents’ house in Los Alamos, N.M. She tried to find jobs, but nothing stuck, so she enrolled full-time at the College of Santa Fe to finish her bachelor’s degree in business. She figures her parents spend about $1,000 a month on her, including a car payment, car and health insurance, school and other costs. Her father is a retired nuclear physicist and her mother, a guidance counselor, will retire this spring. Now Maggiore is looking for work so she can supplement their income.

“as you go out into the world my advice to you is… don’t go! It’s rough out there. Move back with your parents. Let them worry about it!” - Rodney Dangerfield, Back to School

We’re pleased to announce the resurrection of LOLFed, the only site, as far as we know, to mesh LOLCats and Federal Reserve chairmen together. The current flurry of Fed activity meant it was bound to happen.

Here’s the segment from Jim Cramer’s Mad Money where he interviews Republican hopeful Ron Paul:

Jim Cramer is a funny guy. He sucks up to Ron Paul over the Federal Reserve and yet weeks ago he was screaming for the Bernanke and the FED to intervene:

But then again, they’re the only game in time. I suppose you gotta play ball.

LOL, Cramer.

Anyway, I support Ron Paul and encourage you to check out

http://www.teaparty07.com/
http://www.ronpaul2008.com/

What the federal reserve has been doing to America since 1913 is a travesty. I think Paul is the only one who recognizes this.

A few news articles:

Many rich 80s Yuppies ’struggling’

According to a report by the Liverpool Victoria friendly society, 45% of former 1980s Yuppies claim they are struggling financially or failing to live within their means, At the same time, seven out of 10 former Yuppies, now aged between 45 and 55, say they should have saved more money earlier in their career and 32% worry about how they would cope if their regular income stopped.

The number of people splashing out on expensive dining has halved, from 20% of Yuppies in the 1980s to just 9% now, while only 13% still buy the latest gadgets, compared with 18% 20 years ago. Instead the number of former Yuppies donating money to charity has doubled to 21%, up from 9% in the 1980s, while they are also five times more likely to be concerned about the environment and eating organically. More than half of former Yuppies say saving for retirement is now one of their top financial concerns, followed by paying off the mortgage, at 40%, and repaying debts at 34%.

Nigel Snell, communications director at Liverpool Victoria, said: “Our research on Yuppies has found that yesterday’s privileged minority appears to have become part of today’s anxious majority. YouGov questioned 2,409 people during September.

Yes, it’s getting tough out there.