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

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

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[quote=Anonymous][quote=Anonymous][google][quote=Anonymous][quote=Anonymous]Her advice makes sense for people who grew up poor, made it to the middle class, and are terrified about being scammed or wasting/losing their money. Which makes sense based on what she's shared about her background. And it is good advice for a lot of people. But it would not work for everyone. Things like paying off her low-interest mortgage early are emotionally comfortable but not economically wisest. Having kids live at home is good for some families, but not all.[/quote]

It's a really sad state of your relationship with your kid if "it's not good for you" to have your 23 yo kid living at home, if you have space.

We don't have the space (downsized to a 2 bedroom condo as soon as last kid went to college---had been planning that for 6+ years).  So it's tight when kids are home from college.  If one gets a job in our area (VHCOL) we will help them with rent, if needed, the first few years.  We would even rent them a place in our luxury condo building (one of the top 3 buildings in the city) if it works with job location---so they are close by yet independent.  But if we had a 3-4 bedroom place we would let them live with us.  All while giving them their independence and encouraging them to save $$$.

I guess I just don't understand why you wouldn't want to let your kid live at home if you could.  They can still become independent adults, and are well on the way to doing that if you let them. [/quote]

Sure is easy to judge when you deliberately moved into a 2 bedroom condo as soon as your last kid went to college. Seriously. [/quote]

Yes, we wanted to live in the city, that was always our plan for retirement. By the time we implemented this, first kid was out of college and in a job 2K miles from home, so not coming back to live with us anytime soon.  Younger kid lives with us on all breaks and over the summer.  We also have a 2nd home, but it's also different than where the kids grew up.  It's in a calmer/more rural area that is only 45 mins from us.  However the kids don't want to live there.  
However, if either of our kids ever decide to come live in same area as us, we will help them rent a place nearby, ideally in our building.  We would have to do that because there is no way a 22/24yo could afford to live in our building on their own.  But we would happily welcome our kid back to live with us if there was space.  Unfortunately, I'm not purchasing a 4 bedroom condo in the VHCOL area/city we live in on the off chance my kids want to live with us for a few more years.  Cheaper to help them rent a place in our building should the situation arise that the kids are working in our city.    [/quote]

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