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West Newsmagazine 5-1-24

Local news, local politics and community events for West St. Louis County Missouri.

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FACEBOOK.COM/WESTNEWSMAGAZINE<br />

WESTNEWSMAGAZINE.COM<br />

May 1, 20<strong>24</strong><br />

WEST NEWSMAGAZINE<br />

I MATURE FOCUS I 35<br />

and not enough income to cover it all. As a<br />

result, they’re forced to move back in with<br />

mom and dad.<br />

In many cases, these boomerang kids are<br />

also forcing their parents to tap into retirement<br />

savings to support them financially. A<br />

survey conducted by the personal finance<br />

company Bankrate last year found that just<br />

over two-thirds of parents have made or<br />

are currently making financial sacrifices to<br />

help their adult children. Nearly 20% said<br />

they have used retirement savings to do so.<br />

Even when parents of boomerang kids<br />

are able to keep their retirement savings<br />

intact, many are staying in the workforce<br />

longer than they intended to help them<br />

pay for these unplanned expenses. A 2023<br />

report from the National Bureau of Economic<br />

Research stated that while a “boomerang<br />

event” doesn’t generally impact<br />

parents’ long-term wealth, it does increase<br />

their probability of continuing to work fulltime<br />

after age 65, especially for men.<br />

Luckily for parents, though, the data also<br />

shows that most of these return visits are<br />

temporary, allowing boomerang kids to get<br />

back on their feet and get ahead financially.<br />

For example, more than a quarter of boomerang<br />

kids who participated in Thrivent<br />

Financial’s second annual Boomerang Kids<br />

Survey, also conducted in 2023, said they<br />

are living with mom and dad in order to<br />

save money for their own home purchase.<br />

Interestingly, parents may also be contributing<br />

to a disconnect between themselves<br />

and their boomerang offspring by<br />

failing to communicate with them about<br />

money. More than three-fourths of parents<br />

participating in the Thrivent survey said<br />

they didn’t discuss money management or<br />

set financial expectations with their adult<br />

children … and 92% had not set a timeline<br />

for them to move back out.<br />

On the calendar<br />

St. Luke’s Hospital offers an Empowered<br />

Caregiver Series designed to help<br />

families living with dementia, beginning<br />

on Tuesday, May 7 from 6-7 p.m. presented<br />

online via Zoom. The three-part series will<br />

also include sessions on May 14 and May<br />

21. In partnership with the Alzheimer’s<br />

Association, St. Luke’s experts will discuss<br />

how caregivers can navigate the responsibilities<br />

of caring for someone with dementia<br />

while also caring for their own well-being.<br />

This free class is intended for family and<br />

friends caring for a loved with memory loss;<br />

it is not appropriate for people living with<br />

memory loss or paid professionals or caregivers.<br />

Register at stlukes-stl.com.<br />

• • •<br />

Join St. Louis Oasis for a group bicycle<br />

ride, the Chesterfield to Weldon Spring<br />

Interpretive Center Ride, on Friday, May<br />

10 beginning at 9:30 a.m. The ride will<br />

begin on the Monarch Levee Trail from<br />

the Chesterfield Athletic Center across the<br />

Missouri Greenway to the Katy Trail and<br />

Busch Greenway. The group will also visit<br />

the Weldon Sprint Site Interpretive Center.<br />

The length of the ride is approximately 18<br />

miles; there is no cost to participate. Register<br />

and find more information at st-louis.<br />

oasiseverywhere.org.<br />

• • •<br />

St. Luke’s Hospital presents Coffee and<br />

Conversations on Wednesday, May 15<br />

from 10-11 a.m. at the Desloge Outpatient<br />

Center, 121 St. Luke’s Center Drive, in<br />

Building A, Conference Room 3. Join us<br />

monthly for a cup of joe and a conversation<br />

with St. Luke’s health professionals about<br />

health and wellness topics. This month’s<br />

topic is Happy Feet; join a board-certified<br />

podiatrist to learn more about taking care<br />

of your feet throughout your life. The program<br />

is free. Register at stlukes-stl.com.<br />

• • •<br />

BJC Missouri Baptist Hospital offers<br />

Today’s Grandparents classes on Thursday,<br />

May 23 and Wednesday, June 5 from<br />

6-8:30 p.m. at the Missouri Baptist Medical<br />

Center Clinical Learning Institute, 3005<br />

N. Ballas Road. The course fee is $20 per<br />

person (each person attending must register<br />

separately). Register online at classesevents.bjc.org.<br />

What keeps you<br />

up at night?<br />

Let our team of<br />

registered nurses<br />

assist you with<br />

solving your healthcare<br />

or eldercare worries.<br />

ACMCare.org<br />

314-293-0697<br />

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• Offering assistance with probate and other issues<br />

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• Helping families with long term care planning and<br />

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• Brain G. Quinn has received the designation of<br />

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Call our office for a FREE consultation to discuss your family’s solution<br />

636-394-7<strong>24</strong>2<br />

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