Don't convert that room yet-- Study shows nearly half of college grads move back home


This weekend, we celebrated moms and grads.

The University of Oklahoma, Oklahoma State University and the University of Central Oklahoma, among others, held commencement ceremonies in the days leading up to Mother's Day.

Turn's out moms with a college graduate, may have a live-at-home-adult-child for many more years to come.

A study conducted by investment firm TD Ameritrade, shows 48 percent of post-college millennials moved back in with their parents after graduation.

Most young millennials, the survey showed, said they would only be embarrassed to still be living with mom and dad when they reach age 28, while more than a quarter said it would still be okay to live at home until age 30 to 34.

The "Young Money" survey interviewed 2,000 teens and young millennials. The teen group was made up of 13 to 19-year-olds. The young millennials group had participants aged 20 to 26. The was a big contrast between the two groups.

Most teenagers (65 percent) said they don't expect to move back home after graduation. The teen group also said they would be embarrassed if they still lived with their parents at age 26.

"Today’s college graduates are clearly under financial strain due to escalating tuition fees and stagnant wages,” JJ Kinahan said in a statement.

Kinahan is the chief strategist at TD Ameritrade.

“Moving back in with mom and dad is a short-term sacrifice that could pay off in the long-run. That’s only if the boomerang young adults are saving and wisely investing the thousands of dollars they would’ve spent on rent and other living expenses, and – at the same time – are paying down their student debt," he said.

close video ad
Unmutetoggle ad audio on off