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Baby Boomers Moving Back in With Mom and Dad

By KSPR News

It's said "you can't go home again," but many Baby Boomers are reluctantly doing so.

Fifty-two-year-old Jo Ann Bauer is one of those people.

She got laid off from her event planning job, just got divorced and was on the verge of bankruptcy when she accepted an offer from her 80-year-old parents.

"It just sort of was a domino effect. I could survive for about 3 months on what I had and then things just really fell apart from there," Bauer said.

With home values declining and jobs becoming scarce, the number of people finding themselve in Jo Ann's situation is rising.

A new survey by the AARP shows one-fourth of Generation Xers receive financial help from family and friends.

But financial planners believe that number will grow and continue to do so for many generations to come.
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