When the value of stocks and bonds in your portfolio has declined, tapping the bonds of your family can be a valuable asset — especially in retirement.
Joseph Jastrzebski, a 68-year-old manager at Home Depot, wants to retire soon. When he does, he and his wife, Valerie, plan to move in with extended family.
The Sayreville, N.J., couple already live part-time with their daughter, son-in-law and grandchildren. Once they sell the family home the Jastrzebskis will move in permanently.
As retirement investments have been eroded during this economic crisis, the number of multi-generational family households has been growing — returning to a trend from half a century ago.
Since 1980, there has been a 33 percent increase in Americans living in multigenerational households. Investors may be recouping some of losses than have sunk their 401(k)s and other retirement portfolios over the past two years, but not enough to keep many soon-to-be retirees from worrying.
Together again: More retirees moving in with children