By Paul Morrone CFP®, CPA, MSA
Millennials have created an entirely new set of social norms that break the mold forged by their parents and grandparents. For generations, there was a predetermined order as to how some of life’s biggest events were handled. You graduated school (high school or college), started your career, got married, bought a home, and then had children. This universally accepted path was upended as younger individuals became saddled with mountains of student debt, pursued independence and have delayed getting married nearly 10 years later than previous generations. The result is the cohabitation of friends or significant others that are not legally married, some with no intention of ever being married. From a financial planning perspective, this poses its own set of challenges which can create chaos in the event something takes a wrong turn.