Reply to After graduation, rent if lives at home?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I can’t imagine not charging rent (my kid has a decent job l8ned up) but my husband doesn’t want our kid to rush into an apartment lease. So I don’t know.[/quote]

DC moved in after they graduated and we set up a pretend budget as if they were going to be living in an apartment and estimated their living and eating costs. (I pumped it up a bit)   We said they needed to set up an investment account at Fidelity or wherever they wanted and they needed to deposit the estimated amount into that each month. Then, we said they needed to put in the max to their company sponsored 501k plan (15%)

That way, they would not get used to too much extra spending money.

They did their own laundry and were required to cook one dinner a week for everyone.

They ended up living at home for 2 1/2 years before they moved out and had a very nice nest egg in the Fidelity account.  [/quote]

This is the perfect way to do it!  By the time your kid moved out, they were well on their way towards a decent retirement (starting early is the key) and likely near a decent downpayment for a starter home/townhome/condo.  And also well aware of what it costs to be an adult .[/quote]

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