• CONNECT WITH A FINANCIAL PLANNER   »   CONTACT US   |   CALL: 1-323-905-4380  |
  • In The News:
    Share This:
     

    How to Get Your Adult Children To Move Out – Video Me Time with Frangela

    Here is a clip from an early episode of the show Me Time with Frangela airing on Raycom stations across the country. Check your local listing for times and channels. If you have grown children still living at home you are not alone, you need these tips to help them become fully functioning adults faster.

    Frangela – How to get Adult Rid of Adult Children Ruining Your Life:

    Adult children still living with their parents is not uncommon these days. Reasons can range from the inability to find a job, in their field of study, after college to a lack of motivation. What should the parents of these adults do to help them leave the nest and go out into the world to make it on their own?

    I recently sat down with the hosts the new daytime talk show, Me Time with Frangela, and discussed ways parents can get their adult children out of the house. Hosted by “Frangela” otherwise known as the comedy duo Frances Callier and Angela V. Shelton, Me Time taps into Frangela’s 20-year friendship and experiences as comedians, pop culture pundits, actresses, radio/podcast hosts, writers, Tweeters, and Facebookers. Perhaps best known for fighting bugs on NBC’s I’m a CelebrityGet Me Out of Here, Frangela has also been featured on The Oprah Winfrey Show and VH1’s hit weekly pop culture show Best Week Ever.

    I reached out to other financial experts from the Fincon Community. Here are a few of my favorite answers on how they would help get their adult children to move out.

    Play Barry Manilow records. Make kale salad every night. Buy them a car with a manual transmission. Just shooting from the hip, here. – Casey Fleming

    Teach them how to manage their student loans – Joshua Cohen

    Followed up with And match their payments, like an employer would with a 401k! from  Rebecca Greaves Neal

    My parents gave up on my brother moving out and now embraced it – they are considering paying him to be their caretaker as they age. I fully support this plan #wheredoIchipin 😂my brother is the oldest of three. he is 44 – Joanna Zarach

     Change the locks and don’t give them a key. But seriously, don’t coddle your kids and DON’T LET THEM MOVEHOME IN THE FIRST PLACE.- Emilie Lima Burke

    David Rae Financial Planner LA with Frangela Angela V Shelton and Frances Callier
    David Rae Financial Planner LA with Frangela Angela V Shelton and Frances Callier on Me Time with Frangela Set.

    Additionally, there are other ways to help your adult children live on their own. That, of course, depends on your individual situation and just how aggressive you want to be. Is your wish to get them out immediately or help them successfully enter the workforce? Your choice may be the difference between changing the locks and helping them move into a new place.

    If you think this problem is likely to take care of itself, it won’t. No joke. I had a 90-year-old neighbor whose son was still living at home. It took his father’s passing for the son to move out and that was after he sold the home. I think the majority of parents would agree that they would rather not die in order for their kids to move out of the house. Although depending on who you ask, that may sometimes seem like the best option.

    Shut Down the Parental ATM- To Get Adult Children To Move Out

    Why would your kids ever want to move out if you are doing everything for them and handing them money along the way? You may need to do this slowly, but begin to shift their bills into their names, and have them start contributing to their own living expenses. Stop paying, or partially paying, their cell phone bills, car payments, and auto insurance. Have them buy their own groceries and chip in for utilities. Adults in their 30s (and 40s for sure) are too old to still be getting an allowance. Don’t you think?

    Help Your Kids Make a Plan and Help them Move

    Getting an apartment is a big undertaking. There are things like the first month’s rent, security deposit, furniture, utilities, etc. It can be overwhelming so you may need to help them set a move out date. You may also wish to consider encouraging, and in some cases forcing, them to save for that security deposit. That is especially true if they are working. They will need to grow up and learn how to be a responsible adult at some point.

    How much is it worth to have your house back? Not having kids live with you is Priceless!

    Shutting down the parental ATM is often step one to get them out of the house. But in some cases, it may be worth paying the security deposit on the apartment to help the move-out! You want your house and life back but be sure you aren’t co-signing or getting sucked into helping with monthly rent. Otherwise you will end up still subsidizing their lifestyle after you’ve entered a nursing home.

    Charge Rent to Encourage Adult Kids to Move out Faster

    This solves a few problems for those whose kids are working. It will light a fire under their butts to get a move on to move out. If they are paying rent they probably would rather live on their own. If you are feeling generous, you can save this money on their behalf to help pay for their upcoming security deposit or furniture. However, you may prefer to use the money to take a trip in order to escape your kids. Some parents have even used the money to fund Roth IRAs for their kids who have jobs. The decision is yours.

    Make Living with You Unappealing

    Every time your kids have their friends over, embarrass them by greeting their guests while wearing a robe and a facial mask.  Give them a long list of chores to be done daily.  Set a curfew. I’m sure you can get creative.

    Don’t dig yourself in a hole in order to provide welfare for your adult children for the rest of your life. Keep paying down your credit cards, keep saving for retirement and keep yourself healthy. Otherwise, you might be living on their couch in a few years. If you’re lucky. They might not even have a couch for you if they don’t turnaround things today.

    I hope you enjoyed the clip. Check your local listings to see where Me Time with Frangela airs. I appear regularly on the show- so keep an eye out for more clips coming soon.

    Live for Today, Plan for Tomorrow. Make sure to tune into Me Time with Frangela.

    DAVID RAE, CFP®, AIF® is the Los Angeles  fiduciary financial planner with DRM Wealth Management, a regular contributor to Forbes.com,  Advocate Magazine, Huffington Post, Investopedia. Not to mention numerous TV appearances that have earned him the unofficial title of the Hollywood Financial Advisor.  He helps smart people from Beverly Hill to Manhattan get on track for their financial goals.  For more information visit his website at www.davidraefp.com

    You may also enjoy this related post about Schitt’s Creek.

    Tax Deductions + Other Fun with Schitt’s Creek on Pop

    Connect With David Rae, Financial Planner LA

    David Rae, CFP® AIF®

    President / Founder DRM Wealth Management LLC

    1(323) 905-4380

    david.rae@financialplannerla.com

    "How to Get Your Adult Children To Move Out – Video Me Time with Frangela"

    © Copyright 2024

     

    Comments 1

    Show Comments

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    © 2024 Financial Planner Los Angeles

    Disclaimers:

    This site has been published for residents of California (Insurance License # OE10562), Arizona, Ohio, Florida, and Colorado. All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security investment or instrument or to participate in any particular trading strategy. Securities and investment advisory services offered through DRM Wealth Management LLC a Registered Investment Adviser. The videos, articles and other content maintained on this site as well as the opinions voiced in this material are resources for educational and general informational purposes only and are not intended to provide specific advice or recommendations for any individual. No information on this site constitutes financial advice and should not take the place of consulting with a certified financial planner and tax, legal or other financial advisor. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.