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Our kids are not okay — The great education heist
Draining retirement & savings into a broken educational system
“A man who has not prepared his children for his own death has failed as a father.” — T’Challa ( Black Panther)
This past September, a friend of mine and her partner had her 26-year-old son move back in with them, now joining her 24-year-old who had moved back in just months earlier — reconstituting a family of four. The return of their adult children to the family home, it seems, is reflective of a broader trend seen today, where young adults face unprecedented challenges in establishing their financial independence. Factors like socio-economic volatility, the world’s unstable political landscape, competitive job markets, and the escalating cost of living all, to some degree, contribute to this scenario.
In my small city outside Toronto alone, for example, you can not find a 1 bedroom for under 1,800$CND a month, making it near impossible for a single person to afford to live alone. Consequently, many parents find themselves revising their future and financial strategies to accommodate the extended dependency of their children, signaling a shift in the traditional life milestones and family dynamics.
