Elise Povejsil '12 Among Millennials Who Are Part of a Trend

August 4, 2015

A new analysis of U.S. Census Bureau data by the Pew Research Center "shows more Millennials are now living with their parents than during the Great Recession," according to a Forbes article. "This is despite higher levels of employment for the 18 to 34 age bracket, and a slight increase in their median wage."

In exploring the trend, Sue Campbell writes, "Elise Povejsil, 25, lives in Chicago, Ill. She graduated from DePauw University in Indiana in 2012 -- blessedly debt–free -- and accepted her parents' standing offer to move home. She was earning money working in marketing, she says, but quickly saw the advantages of returning to her childhood room."

Povejsil, a conflict studies major at DePauw, is content marketing coordinator at John Wiley and Sons in Oak Brook, Illinois. She says, "Number one, location-wise, where they live (close to Chicago) was nice. And number two, why go out and get my own apartment that would cost at least $1,000 a month if I could stay with my parents and build up my bank account? If had that opportunity, why not take it?"

Campbell adds, "After about two and half years of living at home, Elise had paid off her car, started a savings account to give her a cushion in case of emergency and socked away the maximum allowed into a Roth IRA and her work 401(k). 'A big piece of it for me was setting up the nest egg so I could have flexibility down the road and have options,' Povejsil says."

The DePauw graduate sees another advantage to the arrangement: Povejsil says the bond with her parents grew. "You’re just starting out in life," she explains. "You don’t have huge knowledge of what to do about some relationship or work or money questions. They were awesome advisers. Any question I had, we could discuss it. I didn’t have to wing it alone. I could draw on their experience and wisdom."

Access the complete piece at the magazine's website.

Back