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February 18, 2009

Boomerang generation or boomerangers

Your Guide

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Definition

Term used to refer to children who return home to live with their parents, usually as a temporary measure to allow them to continue their education , increase their savings  or simply because they are not ready ( financially or otherwise) to live on their own.

Referring Cite

N/A (Sl)

Additional Helpful Information

From a retirement planning perspective, boomerangers  have a negative impact on their parents’ retirement nest egg, as amounts that could be diverted to their nest-egg have to be used to provide necessities for the boomerangers.

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

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Annual Benefit Limit

Definition The annual benefit limit for defined benefit plans is the lesser of: A) 100% of the participant’s average compensation for his or her highest

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