Welcome to a new demographic trend: The "Crowded Nest." In millions of families, the children are moving back home again — that is, if they ever left. Plus, there's a good chance one of their grandparents will move in, too, or at least require financial support. If this describes your household, you know that the result can be emotionally and economically exhausting.

Fortunately, you can take steps that will help you meet your responsibilities to all family members without sacrificing your own future financial security... or your sanity.

1. Set ground rules for home-again children and move-in parents, and put them in writing. This may include charging your children rent and asking your mother-in-law to contribute to household expenses each month. That way everybody knows his and her rights and responsibilities. If necessary, schedule a weekly family meeting to discuss needs and air concerns.
2. Set a departure date for the kids to leave the nest. Yes, you love them, but lock in a hard deadline for them to have saved up for that first home or simply move into an apartment.
3. Consider purchasing long-term care insurance for your parents. For more information, click here.
4. Tap into available community services to help with your parents. Between adult day care, the care van, and home health care visits, there may be a lot of support out there about which you're not yet aware.
5. Don't forget to take care of yourself. Continue accumulating assets for your own retirement. As you enter your peak earning years, now is the time to put aside as much money as possible... so you don't end up as a burden on your children. More than that, take the time for your personal needs and, if married, for those of your spouse.

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