The savvy dental hygienist: 4 facts about the Bank of Mom and Dad

Bill and Carly are both in their early 60s. Bill is a diesel mechanic and Carly a dental hygienist. They have three children: Julie, age 29; Megan, age 26; and Samuel, age 24. 

Julie just finished and MBA program after living at home while waitressing for five years after college. She has a local placement with a good salary, yet plans to live one more year at home while attacking $150,000 in student loans.

Megan is in her second year at a dental hygiene program. She lives out of town with her parents picking up the $30,000 per year tab.  She will be totally independent in a year.

Samuel has not attended college and has been in and out of jobs since high school. He lives at home with no ambition, yet has no criminal record yet.

Pew Research Center Facts

· Adults aged 40-59 with at least one grown child---73% provided aid to an adult child in the last year.

· Nearly one-quarter of 25-34-year-olds are living with parents or grandparents

A 2014 Money Survey found that 30% of parents helping to support grown children spend at least $5,000 a year on their kids.

The National Association of Realtors revealed that 54% of first-time home purchases were delayed in 2013 because student loan debt hurt their ability to save for a down payment.

Bill and Carly look forward to the next year as both Julie and Megan will be out of the nest and totally independent.  BUT, Samuel presents a persistent financial problem with no solutions in sight.  I personally know two dentists with children in their 50s still living at home.

More from Dr. Carlsen: How hygienists can control their personal debt

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More from Dr. Carlsen: How hygienists can know their retirement number in less than 10 minutes