Cutting the Umbilical Cord: Taking Advantage of the Baby Boomers

"I feel so bad, like I owe them so much. They've done so much for me, and are still supporting me. I feel stuck trying to return my thanks and yet, I still can't let go."

Does this sound familiar?

Most of us Mellenials are already well into our twenties, an age that prior to our generation accounted for a life already bogged down by extreme responsibilities.

In history, and even currently in some cultures and religions around the world, age had an entirely different expectation:

Age 13: Boys became men and were often "inducted" into this new responsibility.
Age 15: Women were married off and most times already expecting their first born child.
Age 18+: Both Man and Woman work to support older generations and the next in line.

This makes me wonder, as our lifespans increase with improved science and technology, are we lengthening the time it takes to "grow up" while taking advantage of our parents?

I came across an article entitled Boomers Go Bust Over Kids. A very interesting look into how Generation Y is causing a financial rift for their parents, the Baby Boomers.

According to the article one-quarter of, kippers, or "kids in parents' pockets eroding retirement savings, continue to live at home, and of that 25%, it's mostly 20 to 30 year old's still living at home.

'Having spent many years in their parents' well-established homes, Generation Y has grown accustomed to a high standard of accommodation and is now demanding well-located housing that is also spacious and affordable,'' McCrindle says.

''Many of them are expecting to start their economic life in the manner in which they've seen their parents finish theirs.''

An adviser with mortgage broker Smartline, Kim Wight, agrees. ''The perception is that it is difficult for kids to get ahead but the kids also have to realise that they are never going to have what mum and dad had [straight away], because they worked all their lives for it,'' Wight says.

Read more: http://www.smh.com.au/money/planning/boomers-go-bust-over-kids-20110910-1k2rs.html#ixzz1nBPLf3OF

So at what point, I have to ask, is all of this love, kindness, and support actually hindering our growth?  Is the love of our parents and our own hesitation at letting go and taking a chance at the good and bad actually preventing us from becoming self-sufficient additions to society's future?

Parents generally want the best for their children, and strive to give every opportunity they can to succeed in life, but will it take them getting older and their pockets emptier to finally say "enough is enough, get out of my house and out of my wallet" to force us to get off of our comfortable asses and take charge of our own lives? Or have we become so self-obsessed with taking the time to discover our dreams, careers, and futures that we're subconsciously taking advantage of past generations and pro-longing our onset into adulthood?

Will it take something drastic to happen before the umbilical cord gets cut and we choose to "grow up?"

Even Peter Pan, in all of his childhood whim, was supporting the Lost Boys.