Living Cheap and Loving it sounds great to me...an article in the April 2009 issue of the AARP Bulletin.
It contained something that floored us and should scare you too...a direct quote:
"An AARP Bulletin survey found that 32 % of people over 50 are living with their parents, their adult children or both. Another 15% say it's "likely" that they'll begin living with parents or children in the next year."
When I read the article, I thought how bad the economy must be to contemplate moving in with family for retirement.
Now we love our family...we are also glad they are an 13 hour drive away...if you know what I mean. It is great to visit but we are too set in our ways, 36 years of living away from them, to ever consider living with family again.
If this article is correct...and I am not really a fan of AARP...that is close to 50% of folks at retirement age...baby boomers...living at home or thinking about it.
If this is you I would take a strong look at some of the lifestyles that we have enjoyed in the last 16 years before moving back in with the folks or your kids. In no way shape or form is this a viable option for retirement...IMHO.
Frugal sure...but what we have experienced is frugal and fun too...living with family does not sound like fun to me.
We have experienced fun frugal living by:
These are all fun and cheap lifestyles I would try before I considered this option for "retirement"...nor would I consider moving in with your children a viable retirement option...you are free day care in that scenario.
In this same article, a section was devoted to sharing ahome with others...never tried this personally, but this sounds better than the living at home option.
On example that was given, a couple along with 3 others bought a 8 bedroom house in Seattle. With this option you will have savings in food and shared cooking responsibilities; less rent; utilities; transportation (if you car pool), etc.
This option may have more appeal to you than moving in with family.
Remember, you can choose your friends...not your family.
Please try the other options for fun, frugal retirement living than this nuclear option...