Earlier this month, writer Jasmine Li published an article on Fortune, titled 'Broke boomers are moving in with their millennial kids, who are seething.'
In it, she highlighted that as more and more boomers reach retirement age, an increasing number of them are running out of money and, therefore, turning to their adult children for support — the median retiree has $142,000 in savings, which is a far cry from the $1 million they say they'll need to live comfortably.
And according to the Pew Research Center, 9% of multigenerational households were headed by 25- to 34-year-olds in 2021, up from 6% in 2001.
Li's text was a hit and after Reddit user LightRobb discovered it, they shared it on the platform's forum 'Boomers Being Fools.' People immediately started discussing it and sharing stories of their own struggling old folks, providing a human side to the grim figures.
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