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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I have a 24 year old who earns $50k a year and is up for a promotion that will put her at earning $70k plus bonuses and she can remain living at home for as long as she wants to as long as she is saving money. We want her to be able to launch with enough savings for a down payment if she chooses to buy a home or enough to cover her living expenses for 1-2 years if she chooses to rent.

[/quote]

Why? That seems like an awful high bar to reach in order to move out. There are so many benefits to living with roommates/friends, I’m surprised so many people are dismissing it. [/quote]

It makes sense to have roommates so that you are sharing the rent as well as are not alone, especially if you are away from home in another city for education or a job.  BUT, makes zero sense to spend any money if your parents are cool with letting you be at home for zero or a  small rent.  The amount of money you can save is phenomenal and when you start your married life, you can afford an amazing home with a large down payment.

I am wondering, is this why people here are in a bad financial situation and can never dig themselves out of poverty?  I thought this was an obvious solution? [/quote]

I don’t think there is data on this, but my guess is people who leave home after college are more successful.  They are more adventurous, entrepreneurial and have pressure to make smart financial decisions because they have rent and bills to pay, so they move along to better jobs & opportunities.

College grads that stay home tend to live in the suburbs where there aren’t as many jobs. Many some are good at socking away money, but many more are depressed, unstimulated and lonely. [/quote]

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