How much money save up before moving out?

[Anonymous]

Solid job, if they have enough for their needs, they should be fine. They can even work on their savings as they go.
No minimum savings.
It’s all about the net income (minus) fixed bills. They should avoid set bills beyond rent, utilities, and if they can afford a car, a car.

[Anonymous]

Anonymous wrote:It depends if they are renting or buying. For renting I'd say $5k-$10k. Obviously more if buying, maybe $30k or more

They’ll need more savings than that if buying, if they have a down payment. And the biggest suck of buying is all of the little things needed to fill a place.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Forty years ago I was 30 and saved 50,000. It was enough to buy a home.

This is the way to do it. Parents forcing kids out at 18 just puts them in financial stress for years and years.

Better that they live at home, work fulltime, and save up some money, rather than wasting it on rent.

+1

My DS saves 90K/yr after taxes and maxing out his 401K after graduating from college in 2019. He lived at home from 2019 until 2024, and invested that money in Nvidia, Amazon, and Tesla during the pandemic. He finally moved out two months ago with around 1.3M in cash & stocks.

Wow, that’s awesome Those were very risky stocks during that time and no one knew for certain they were going to do that well. and I’m glad it worked out.

My kid has been a software engineer at Amazon for half of that time, and he is against investing more into it. So other than the growing $$$ RSUs they gave him (and his employment), that’s the only investment in AMZN he’s making.

He has the rest if his life for his portfolio to grow, that the risk FOR HIM is not worth it this early on. He’s a finance nut like his dad, so he moves a smaller amount of “play money” around in his E*TRADE account .

[Anonymous]

Anonymous wrote:How much money should one have before moving out? it's one year salary enough? over 100k?

I would say enough for a down payment of a house/apartment.

[Anonymous]

Why do you need money to move out?

I moved out and got a two bedroom apartment in a two family in Astoria. My owner landlord just wanted to see our Offer Letter and Paycheck and I had enough Deposit and first months rent.

And years later moved to Bethesda and same thing. Landlord wanted offer letter and first pay check and call HR to verify.

[Anonymous]

Anonymous wrote:How much money should one have before moving out? it's one year salary enough? over 100k?

In reality, all you need is to be 18yrs. old.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How much money should one have before moving out? it's one year salary enough? over 100k?

In reality, all you need is to be 18yrs. old.

Great way to make your kid struggle the rest of his/her life and be just as poor as you.

Never heard of "generational wealth"? After a couple generations, children don't even have to wage slave anymore if they don't want to.

Now if you are rich, and want your kid to have bootstraps and whatnot, then put money in a trust that they don't get until some age like 40y/o.

[Anonymous]

It's healthy for children to move out and live as an adult. Whatever is good enough for the landlord is good enough.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Forty years ago I was 30 and saved 50,000. It was enough to buy a home.

This is the way to do it. Parents forcing kids out at 18 just puts them in financial stress for years and years.

Better that they live at home, work fulltime, and save up some money, rather than wasting it on rent.

+1

My DS saves 90K/yr after taxes and maxing out his 401K after graduating from college in 2019. He lived at home from 2019 until 2024, and invested that money in Nvidia, Amazon, and Tesla during the pandemic. He finally moved out two months ago with around 1.3M in cash & stocks.

Good for him!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much money should one have before moving out? it's one year salary enough? over 100k?

In reality, all you need is to be 18yrs. old.

Great way to make your kid struggle the rest of his/her life and be just as poor as you.

Never heard of "generational wealth"? After a couple generations, children don't even have to wage slave anymore if they don't want to.

Now if you are rich, and want your kid to have bootstraps and whatnot, then put money in a trust that they don't get until some age like 40y/o.

This makes no sense. Generational Wealth is financial wealth and assets that can be passed down from one generation to the next.

Nothing to do with kid living at home and saving money before moving out!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Forty years ago I was 30 and saved 50,000. It was enough to buy a home.

This is the way to do it. Parents forcing kids out at 18 just puts them in financial stress for years and years.

Better that they live at home, work fulltime, and save up some money, rather than wasting it on rent.

+1

My DS saves 90K/yr after taxes and maxing out his 401K after graduating from college in 2019. He lived at home from 2019 until 2024, and invested that money in Nvidia, Amazon, and Tesla during the pandemic. He finally moved out two months ago with around 1.3M in cash & stocks.

SMART GUY! My son is 25 and has about 400K saved. Still lives at home.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much money should one have before moving out? it's one year salary enough? over 100k?

In reality, all you need is to be 18yrs. old.

Great way to make your kid struggle the rest of his/her life and be just as poor as you.

Never heard of "generational wealth"? After a couple generations, children don't even have to wage slave anymore if they don't want to.

Now if you are rich, and want your kid to have bootstraps and whatnot, then put money in a trust that they don't get until some age like 40y/o.

This makes no sense. Generational Wealth is financial wealth and assets that can be passed down from one generation to the next.

Nothing to do with kid living at home and saving money before moving out!

You must be trolling as you contradict even yourself.