How to Get Your Adult Kid Out of the House
Jill Schlesinger coaches a woman on a delicate subject: telling an adult child it's time to move out.
Jill Schlesinger (Editor At Large): You seem very comfortable. You seem all relaxed.
Female: We just came from a party.
Jill: Will you spend 30 seconds with me, “no.” Busy, no one wants free
financial advice. You want to know about the topic. Its an easy topic.
Female: What’s the topic?
Jill: Do you like that? I’m Jill. Last year was Broadway’s biggest season ever
with over 12 million tickets sold. Let’s see if one of those theatre lovers
needs some financial advice.
What are you going to see today?
Female: We’ll go see West Side Story.
Jill: So you’re seeing the whole soundtrack.
What question could I possibly answer and I mean anything. It could be
your investments, taxes, life insurance, education funding, what’s on your
mind, what can I help you out with.
Female: Let me think now I’m just going to think now. I’m retired.
Jill: I love that job, I inspire to have that job. Fabulous.
Female: Okay we own 2 homes, we own a home in New Jersey and – right now
our son lives in the home and we really do want to sell it and we don’t
know what to do with him. He’s getting married.
Jill: Oh okay.
Female: And they’re going to relocate eventually and the hold up is kind of him.
We almost have a buyer for the house as well but you know he’s family. I
Jill: He is your son. Okay so when I used to have clients like this what we
would try to do is we would give the child a little bit of a heads up so
normally if you were your tenant you would say hey, I’m giving you 1
month notice and you’re out of here. We’re going to vacate the property
and you’re out on your tushy good luck. Now its your son so you don’t
want to do that but what is reasonable to say when he’s going to get
Jill: So I think what might be reasonable to say is this. You know what honey
its been great, we’re having a good time but mom and dad actually had to
take care of ourselves and our financial future and the good news for you,
you say to your son is that if we take care of ourselves you won’t have to
take care of us in the future, right and so we’re going to give him a little
bit of a heads up and you’re going to say to him you know when you get
married part of this process should be, I need you to go find another place.
Go rent, if you’re not ready to buy its okay but mom and dad need to sell
their house. They need that money so that they can really secure their
Now does that seem that something you could say.
Female: Clearly absolutely.
Jill: Now when you get that big pile of money very big hopefully, what are you
going to do with it?
Female: Pay off some of the mortgage of the house down the shore.
Jill: And you’re going to live full time down the shore?
Female: Yes we were down there now.
Jill: What’s the mortgage rate on that house?
Female: Oh I don’t remember.
Jill: 6 ish?
Jill: 5ish maybe you don’t have to pay it all off.
Jill: I mean that’s one thing to consider. You know why I don’t always say to
pay off the whole loan because if you need money for some reason you
can’t go and refinance it 5 years from now if rates are much higher so
what you should do is sort of look at what your whole situation is. You
look at like how much money do we have that’s liquid and what’s none
liquid and if you don’t have enough money that’s really readily accessible
don’t pay off that home mortgage so keep that in mind. Now I got more
question for you did you get a long term care insurance.
Female: Long term care insurance, no,
Jill: Nursing home ish kind of thing. Maybe you should investigate that.
That’s— Listen I got my mother for his 60th birthday gorgeous long term
care policy so its something to consider.
Jill: The reason why is this. Let’s say I’m 50 something okay so the deal is that
once you turn 60 the likelihood that you get sick and need to spend some
of your money increases dramatically right but if you buy the insurance
now you might be able to get it at a cheaper rate because you got already
sick and you’re healthier so by the time you really need it you probably
can’t qualify for it so investigate. Go to a, do you have an insurance guy.
Jill: Everyone has an insurance guy. So go to the insurance guy and make sure
you have that and do you have your wills and your trust and everything.
Female: Yes those are all done.
Jill: You got a gold star.
Female: Okay thanks.
Jill: Way to go. Excellent!
How to Get Your Adult Kid Out of the House
It seems like when I was a kid, my mom had to struggle to get me to come inside. My siblings and I would spend endless summer days roaming the hills near my home, playing war through the woods, building forts, and even just lying back in the tall grass and watching the clouds....
Would you have guessed that video games could improve your mind, or your life? Some folks might scoff at the thought that video games might be useful or beneficial in any method, other than give a little diversion. But, there are quite a few edges from enjoying video games!...
Kids Cubby House Accessories Kids Cubby House Accessories...
Liverpool is a great place to find adult dating partners. This article explains why. It also contains advice on getting the best out of adult dating in Liverpool and how to attend parties held in the city....
A common misconception in today\'s society is that a chubby baby is a healthy baby. Yes, we all love cute, chubby babies, but the sad reality is that too many of those chubby babies will later turn into unhealthy, chubby adults. As parents, it is our job to ensure we build a good foundation for our children...
Everyone knows what the "moon rooms" or "moon houses" are. Those are those huge inflated rooms at the carnival where people can go in and jump on this huge pillow-like floor. It's like a cross between an air pillow and a trampoline and kids of all ages love them....
Active adult housing communities are places restricted to people 50 or 55 and older in age....
THIS ARTILCE TALKS ABOUT HOW TO RAISE YOUR KIDS TO BE PRODUCTIVE AND RESPONSIBLE ADULTS....
A wooden kid\'s playhouse can take the form of an outdoor clubhouse or simply an outdoor playhouse that will keep your children occupied during these long summer months....
Kids learn a lot of things when they are playing...