Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
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Anonymous
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Did anyone else read Michelle Singletary's article in the WAPO about her three young adult children who are still living at home - rent free? She claims they are saving for retirement, good grief. She has lost all credibility. I can't take her seriously.
https://www.washingtonpost.com/business/2024/02/14/financial-cut-off-adult-children/ |
Anonymous
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Honestly, it seems like a reasonable and responsible set-up. Taking what she says at face value, they contribute to the household and are saving. I assume she lives in the DC area - rents are ridiculously high.
I find this set up a whole lot less off-putting than parents helping their adult MC kids with a down payment or daycare expenses. |
Anonymous
| I still like her advice. I’m ok with her kids living at home. |
Anonymous
| This is only a problem if you buy into a certain dated and US-centric vision of what a middle-class family should live like. |
Anonymous
Can't read article, behind paywall. But are her kids gainfully employed? If so, why would you not let your kids live at home rent free if they are actually saving majority of their income and are working at least 40+ hours per week? My kid pays 1500/month to rent an apartment, because they live 2K miles from home with their job. But if they had a job in our town, I'd certainly let them live at home, saving majority of their earning for a few years. Imagine putting an extra $18K into retirement/savings per year in your 20s. By time they are 30 they could have what will become over $2M at retirement and an amazing downpayment for a house/TH/condo. |
Anonymous
| This is very common in many parts of the world. Why is OP so worked up? |
Anonymous
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I think there are cultural differences at play here as well—I bet OP is white.
In a high cost of living area like DC it makes sense. As long as everyone gets along, why not? |
Anonymous
It seems opposite to her advice for raising independent children. Advice for thee, not me. |
Anonymous
| She’s not a parenting advice columnist, right? So what’s the issue? |
Anonymous
Sounds like they are employed. She’s letting them live at home to save $$. She says when she sees they aren’t doing that appropriately, she will start to charge rent. Sounds like a very smart set up to me. |
Anonymous
| What? No, her kids work FT in good careers. The fact that they want to live at home makes me think she’s a good mom! She always gave me a good vibe of being the kind of parent who somehow manages to hold her kids to high standards but have a warm relationship at the same time. |
Anonymous
| If they are employed and banking cash for a down payment on a place, that would seem pretty reasonable and even smart. |
Anonymous
+1. Bingo! |
Anonymous
She’s a financial advice columnist, not a parenting coach. And her children are saving serious amounts of money on rent. I guess you’d rather have your kids rent fancy apartments and eat avocado toast in the name of independence LOL. |
Anonymous
+1 Such a Karen. |