Kids in Parents’ Pockets Ruining Retirement Savings (KIPPERS) is a slang term for adult children who still live at home with their parents even after they leave school and reach working age.
Parents may enjoy having KIPPERS at home, but this can cause financial hardship due to the additional cost of supporting one or more children.
It can also cause them to delay making important decisions such as downsizing, moving to a more favorable climate, and retiring.
Parents should help their KIPPERS prepare for independent living by setting the rules, collecting rent, and helping them manage expenses and debt.