Almost Two Million Young People Are Not “Emerging”

Young PeopleI love the line in the country song, “Mammas, Don’t Let Your Babies Grow Up To Be Cowboys”. …”Cause they’ll never stay home”.

Thousands recently graduated from high school and college. Despite the motivational commencement address about moving on to the next stage of life, many graduates will continue living at home for a decade or more. Young people are not emerging. Does America have a problem?

A recent Census Bureau Report led to some dramatic headlines:

Report: 1 in 3 U.S. young adults live with parents; 2.2 M are ‘idle’.

Census: More Americans 18 to 34 Now Live With Parents Than With Spouse

The Census Bureau tells us:

“More young people today live in their parents’ home than in any other arrangement: 1 in 3 young people, or about 24 million 18-to 34-year-olds, lived in their parents’ home in 2015.

Of young people living in their parents’ home, 1 in 4 are idle; …they neither go to school nor work. This figure represents about 2.2 million 25- to 34-year-olds.”

What is adulthood?

The Census Bureau defines adulthood as achieving four milestones; working, living independently, marriage and having children. Many survey participants disagreed with their definition:

“Most of today’s Americans believe that educational and economic accomplishments are extremely important milestones of adulthood. In contrast, marriage and parenthood rank low: over half of Americans believe that marrying and having children are not very important in order to become an adult.”

The participant’s response correlates with Dr. Jeffery Jensen Arnett’s paper, “Emerging Adulthood”. He believes young people aged 18-25 are bridging the gap between childhood, adolescence and having not yet entered the enduring responsibilities that are normally associated with adulthood – calling it “Emerging Adulthood”.

He contends that attaining adulthood are individualistic qualities of character – accepting personal responsibility, thinking and acting independently and becoming financially independent.

Some good news

In the 1970’s, Gail Sheehy wrote a great book; “Passages”, outlining what normally happens in each decade of life. She concluded that our society is getting younger, 80 is what 70 used to be, 60 is what 50 used to be, etc. Each chronological age is behaving as though they were younger than the generation before them.

The Census Bureau survey weighs in:

“In 1976, over two-thirds of women, …were mothers by the time they were 25 to 29 years old. To find that same proportion today we have to look among women who are aged 30 to 34.

…In 1976, some 85 percent of women and 75 percent of men were married by the time they were 29 years old. To find at least that same proportion today, we have to look among people in their early 40s. …Young adults are not necessarily giving up on marriage. They are waiting longer.

…Over the long term, women’s chances of marrying are nearly as high as they were 20 years ago, but their chances of marrying as young adults have fallen sharply.”

This subject generated much discussion among my peer group of early baby boomers and retirees. Once we graduated from high school, we were expected to leave home, either heading off to college or joining the military. Those who were not college material started in the trades as apprentices and worked their way up the economic ladder.

While the academics use fancy terms, my grandfather’s simplicity still holds true. He taught me that all animals are responsible to bring their offspring to the point they can survive, (and hopefully thrive) on this planet – on their own. As a youngster, my mission was clearly understood; I was expected to grow to be self-sufficient. Family elders would not be there to look after me.

So what’s the good news?

Despite the fact many in the young generation are being coddled, wrapped in bubble wrap, shipped off to college with their “safe spaces” shielding them from reality, the vast majority are eventually figuring things out and becoming productive adult members of society.

Who’s left at home?

The Census Bureau digs into the details:

“At 24.2 million people, the population of 18- to 34-year-olds living at home is a large and diverse group. …About 81 percent are either working or going to school.

…Of the 8.4 million 25- to 34-year-olds living at home, about 1 in 4 are idle, meaning they are not in school and do not work.”

The majority of the young people still living at home are making progress toward becoming self-sufficient; it’s just taking longer than it has in the past.

Of the 1 in 4 who are idle, over 25% are disabled and have some type of limitations. Their health plays an important role in their decision to live with parents.

What remains is approximately 1.6 million who are able to work and/or go to school but not doing so. They are described this way:

“They tend to be older millennials, white or black and have only a high school education, compared with their peers who are working or going to school while living at home. …They are more likely to have a child, so they may be caring for family…”

Dr. Arnett discusses parenthood:

“Parenthood ranks low in young people’s views of the essential criteria for adulthood …but those who have had a child tend to view becoming a parent as the most important marker of the transition to adulthood for themselves.

The explorations that occur in emerging adulthood become sharply restricted with parenthood, because it requires taking on the responsibilities of protecting and providing for a young child. With parenthood, the focus of concern shifts inexorably from responsibility for one’s self to responsibility for others.”

Does parenthood cause young people to grow into adults? The census bureau tells us, “Nearly 40 percent of all births in the United States are to unmarried women.” They draw no conclusion on this subject.

A poorly educated, single parent living at home has very little opportunity for financial and emotional independence. During their early years, decisions they made affect the rest of their life; particularly if their partner does not accept parenting responsibility.

What does this mean for family elders?

The “Race to the Finish Line” has changed. Once the nest is empty, parents generally focus on their next phase of life – planning and funding retirement.

The generation that married in their early 20’s saw their children leaving the nest around the time they were 50. Many were in their peak earning years and could play “catch up” – racing to save as much as possible to be able to retire. There was a 10-15 year bridge to the retirement phase.

Parents of the 8.4 million children still living at home past age 25 have a bigger retirement planning challenge. Supporting your children for even a few more years can cut 1/3 or more off the bridge to the finish line – or cause parents to continue working longer. Those harboring the 1.6 million between ages 25-34 who are “idle” and not making progress, have even bigger challenges.

The millennial generation is taking longer to move through each cycle. Millennials will probably work well into their 70’s (or longer) to be able to retire.

Set expectations and glorify the goal early on. Francis Marion, (High Country Blog) wrote a terrific article, “The Things Men Do”. He discusses risk and responsibility and begins with a cool quote:

“There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences. – P.J. O’Rourke”

The ability to be financially and emotionally independent applies to all, not just men. While the timeline may be different, the goal and expectations have not changed. Using some common sense (and avoiding pregnancy) seems to be working well for most young Americans.

I saved the best news for last.

Way to go cowgirls! I believe the best marriages are between adults who choose to be married, where neither is financially dependent on the other. The cowgirls are doing terrific! The Census Bureau has some significant points:

“There are now more young women than young men with a college degree…

…More young people are working today and have a full-time job. The driving force has been the rise of young women in the labor force…

…A woman with a college degree is less likely to be married by the age of 25 than one with only a high school diploma. By the age of 35, …the college-educated woman has a greater chance of being married and staying married… A college-educated woman has a 78 percent chance of still being married by her twentieth anniversary. A woman with only a high school diploma has a 41 percent chance.”

Despite the bubble wrap and coddling, the system is still working – most young people are growing into responsible adults.

Parenting, grand-parenting (and great-grand parenting) are wonderful phases of life. The true joy comes from helping each generation grow to become independent, responsible adults; fulfilling their role in the natural order of things. Whether they grow up to be cowboys or cowgirls, help keep the line moving. When your judgment day comes, rest easy; you did your job!

And Finally…

“A government big enough to give you everything you want, is strong enough to take everything you have.” – Thomas Jefferson

For more information, check out my website.

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Until next time…

Dennis
www.MillerOnTheMoney.com

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Persnickety
Persnickety

A lot of words with very little content.

Either it’s no longer desirable to be a real adult, or it’s so difficult that people are failing to achieve it. I think both are at work to an extent.

The stated fact that women with college degrees are more likely to stay married is, by itself, a good thing, but it hides the fact that such women are less likely to have children, and those who do will have fewer, and if they are on a professional career track, often delay to an age at which both child and mother’s health is adversely affected. This is a public health problem and is highly dysgenic.

What the essay fails to come out and state is that the current state of affairs is PRECISELY that illustrated in the dystopia-comedy Idiocracy.

Mark
Mark

Well living at home is working well for illegal alians. So much so that 3 generations will soon cram into the same living space.

I suggest if the millennials want to live out side the home, buy a camper van and park it in their folks driveway.

Anything, is better then being an indentured servant and forking all disposable income and potential savings to shyster landlords. Whos motto is “if you dont take the room i have family of 6 mexicans who will”.

IndenturedServant

There’s a HUGE difference between immigrants (legal or not) and millenials. The immigrants do it to save money/get ahead…..a very smart strategy. The minnies do it to escape reality and remain unemployed. Shit if I was a minnie I’d be working two or three jobs (as I did fresh out of high school) and taking full advantage of living cheap if not free.

I know plenty of minnies that are out there forging their path but I know many more who are just idling. They will come to regret that if they survive the coming war/s.

Excellent idea on living in a camper. My wife and I did that ourselves primarily to pile up cash when we first moved to our current home city. We found jobs, got the lay of the land so we could make a smart decision on where to buy a home and took our time shopping for a home all while paying only a couple hundred dollars a month for rent and utilities. A couple of smart college kids living in travel trailers were my neighbors at the time. That was 24 years ago. We don’t regret a minute of it. We even made money on the used travel trailer we were living in when we sold it.

peaknic
peaknic

“Parents of the 8.4 million children still living at home past age 25 have a bigger retirement planning challenge. Supporting your children for even a few more years can cut 1/3 or more off the bridge to the finish line – or cause parents to continue working longer. Those harboring the 1.6 million between ages 25-34 who are “idle” and not making progress, have even bigger challenges.

The millennial generation is taking longer to move through each cycle. Millennials will probably work well into their 70’s (or longer) to be able to retire.”

As a Gen-Xer who married late and had children at 39 and 42 (my first and only ones, not “accidents”), I have the same issues as above, albeit from the opposite end – my kids will be looking to go to college just as I’m ready to begin looking at retirement. I will never get that chance to catch up and will likely need to work until I die.

IndenturedServant

Why can’t they pay for their own college? Millions have worked part and full time while going to college. If they work a couple of jobs each summer as well they should escape with minimal debt. I’d make damn sure they are going to college in fields that have definite prospects immediately upon graduation. They can even start working and saving during their high school years. The more skin they have in the game the less likely they are to be involved in stifling freedom of speech and agitating in general once they get to college.

The millenials are being “enabled” in their laziness. Don’t be an enabler.

EDIT: Please ignore this comment. I’ve been informed that due to tuition increases over the last 30+ years, there’s no point in trying. Millenials and their parents are just doomed to be losers who will never have the ability to get ahead or retire. So, don’t even try. I’ll be happy to mop up your share of the crumbs left on the table for myself. Please return to your Xboxes in mommy’s basement. That is all.

Persnickety
Persnickety

Compare college tuition costs today and 30+ years ago to realistic unskilled-worker wages (minimum to 150% minimum wage) for the same time periods. If you can do math, you will have the answer.

IndenturedServant

Well fuck, I guess that’s good enough reason not to even try and forgo your own retirement because of it. There’s nothing like snatching defeat from the jaws of victory!

I actually love it when people are defeated before they even try. It means less competition in the workforce which I’m still a part of.

I’m well aware of the math and I’m well aware of college kids who work throughout college including their summer breaks and use that money to minimize the student loans they take. They’re also smart enough to get degrees in fields that are in demand. They even study, get good grades and could give two shits about the snowflakes, SJW’s and agitators on campus. I’m sure they’re just wasting their time though. I’m sure they’ll repair to their parents basement and spend the early years of their working lives lamenting the fact that they didn’t rack up more debt and spend way more time on Marxist extracurricular activities.

Boat Guy
Boat Guy

Working your way thru college is a rare option if at all these days . You of all people should know that indentured servants pay half of their production in tribute to the big fat whore in Washington

peaknic
peaknic

Actually, IS, I agree with you and I am acting accordingly. I am busy spending every cent (and then some) on building the doomstead that will house them when TSHTF, which I fully expect to happen before they will be going to college. So, no 529 plan is being funded in the stock market that will go poof in any case.
My wife is the one who will be the most disappointed, because I am also not saving for 2 $50k+ weddings (in today’s dollars), either. She thinks I’m joking when I tell them they will get married in a tent behind our house!

James the Wanderer

My children took longer to mature than my wife and I did. Although, if you ask her my wife will probably say I still haven’t grown up!
The elder child has a set of goals and is planning to get there. The younger one still hasn’t graduated college yet, so he’s still working on the first goal.
I don’t mind sheltering them a while longer from the kind of world the SJWs want us to live in.

NickelthroweR
NickelthroweR

Greetings,

What I’m curious about is the trendline. Are the numbers increasing or decreasing? Where something lies is not as important as where it is going. Finally, as a side note, I find it hysterical that a person can’t buy a pack of smokes or a beer until the age of 21 but can take out a $120k loan for a degree in Communications the day after turning 18. How does that make any sense?

Persnickety
Persnickety

“How does that make any sense?”

Of course it’s dumb, but think of how much money is involved and who stands to receive that money.

Who has the better lobby – colleges, their legions of workers, and banks, OR convenience stores and beer makers?

BTW, last I checked you only had to be 18 to buy cigarettes. Not sure since I’ve never bought any in my life.

musket
musket

Cut the umbilical cord, turn into the wind and launch their ignorant asses……

Llpoh
Llpoh

I have no issues with kids living at home – so long as they pay their own way (get a job!). Families need to be the primary social structure – not the govt. The govt has usurped the role of families via welfare. That shit needs to be reversed. Families need to be the support group for its members – not uncle sugar taking from the productive to give to someone else. That role needs to be filled by families.

MarshRabbit
MarshRabbit

Subterraneans (i.e. basement dwellers) lol

Anon
Anon

I would say that some millennials fully understand the game, and that is why they stay home. You have got to be out of your mind to take on loans for dumbed down schools only to get a piece of paper that gives you nothing in terms of ROI. And buying a home nowadays, at historically low interest rates, where the DTI of most is way outside of historical norms, is a financial suicide mission. Rents, as well are in the stratosphere compared to incomes.
Everything is out of balance. The smartest thing any millennial could do is learn a trade that cannot be outsourced or off shored, save as much money as possible, learn the basics of investing (for when this shitshow finally has its curtain call) and definitely avoid marriage or any women, other than casual dating, at least until the check boxes above have been secured. Just my humble opinion.

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