Reply to Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I live at home with my parents.  I make $180K, pay $40K in taxes, spend $10K, and save $130K.

I'm always amazed when I read the posts from the couples here making $800K and saving $160K (i.e., effectively saving $80K each).  Living with your parents is such a cheat code to skyrocket ahead in life that I am surprised it's scorned instead of being the norm.[/quote]

Interesting that you used the term “cheat code.” Maybe you are cheating yourself out of learning to be a more responsible and reliable adult.

Money isn’t everything: character is more important in the long run. 
[/quote]

Can a person develop character while living at home?

I’d say yes, but structure is required. [/quote]

Difficult to develop adult responsibility and reliance on oneself if someone else is paying for the roof over your head and many other of your living expenses. 
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Not really, if you are saving 95%+ of your salary.  Many can be responsible people without actually being forced to live in poverty.  
Very fiscally smart to do it for a few years.  Especially if you have a great relationship with your parents.  [/quote]

Sorry, it is very different to live at home with parents rather than one’s own or with roommates. Relying on someone else to pay for your housing, electricity, water, internet is essentially living as a child. Adults pay their own way. 
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A responsible adult in their 20s, just out of college who is living at home with a financial plan to save save save (80%+ of their salary) is still an adult.  In fact, it shows they have a great relationship with their parents and are financially smart enough to recognize how far ahead they can get by choosing to do this.  They most likely know they can budget and pay for themselves, but then they might not have enough for 7K Roth and another 8-10K in 401K and wont' be able to save for a downpayment while living in a HCOL. So they make the sacrifice to live at home in order to save.  If anything, it's a sign of independence and being a smart adult.  
Even smarter choice if they do it to also rapidly pay off any student loans.  Money isn't everything but living at home with minimal expenses to you can give you a huge leg up in life.  IN reality, it doesn't cost your parents much to have you there...just food and electricity/gas.

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