Anonymous
03/08/2024 09:43
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
Anonymous wrote:I agree that the headline of this post is obnoxious and honestly it’s incredibly smart to allow the kids to come home and save for a few years after college. Just like a kid graduating without any student loans is going to have a leg up so is one who can save a few years of rent staying in what would be an unused basement.
By coincidence the best job offer my kid got after college was back in this area. I’m happy to have him move to my basement (not back into his old bedroom). He can be my roommate. No expectation of me behaving like his mom. He can have people stay overnight and he can live his life and I can do the same. He just won’t have to spend one paycheck on rent at a crappy apartment or house. I think Michelle Singletary is doing her kids a huge favor by allowing it and it’s a financially savvy decision.
Land the heli, and let go of that man child.
Anonymous
03/08/2024 09:40
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
Anonymous wrote:I know very few single adult college grads who are DC metro natives and actually rent. Makes more sense to stay at home and repurpose that basement for a while, until you can build up savings. The rent is too high.
I am a black dc metro native about 10 generations and I haven’t lived at home since 22. Work in corporate America and I make six figures. Still rent but buying a home soon. Rent is only $2k and I bring home $10k. Maxed out all accounts for years. For many years rent was only $1100 for me.
Anonymous
03/08/2024 09:36
Subject: Re:Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
I think what Michelle does is fine. She clearly has ground rules and I agree with that.
However, I know a lot of people around my age mid thirties STILL living at home. There is no way they are saving substantially because they are often in jobs that are low paying. They are going on trips, buying expensive cars and extracurriculars. I personally feel if you stay at home in your 20s you need to be aggressively saving! There’s just no reason you should be living at home from childhood to mid thirties/forties. Only exception to me is the child has mental health problems or is responsible for taking care of their family.
However, I know a lot of people around my age mid thirties STILL living at home. There is no way they are saving substantially because they are often in jobs that are low paying. They are going on trips, buying expensive cars and extracurriculars. I personally feel if you stay at home in your 20s you need to be aggressively saving! There’s just no reason you should be living at home from childhood to mid thirties/forties. Only exception to me is the child has mental health problems or is responsible for taking care of their family.
Anonymous
03/08/2024 07:33
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
I agree that the headline of this post is obnoxious and honestly it’s incredibly smart to allow the kids to come home and save for a few years after college. Just like a kid graduating without any student loans is going to have a leg up so is one who can save a few years of rent staying in what would be an unused basement.
By coincidence the best job offer my kid got after college was back in this area. I’m happy to have him move to my basement (not back into his old bedroom). He can be my roommate. No expectation of me behaving like his mom. He can have people stay overnight and he can live his life and I can do the same. He just won’t have to spend one paycheck on rent at a crappy apartment or house. I think Michelle Singletary is doing her kids a huge favor by allowing it and it’s a financially savvy decision.
By coincidence the best job offer my kid got after college was back in this area. I’m happy to have him move to my basement (not back into his old bedroom). He can be my roommate. No expectation of me behaving like his mom. He can have people stay overnight and he can live his life and I can do the same. He just won’t have to spend one paycheck on rent at a crappy apartment or house. I think Michelle Singletary is doing her kids a huge favor by allowing it and it’s a financially savvy decision.
Anonymous
03/07/2024 23:09
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
My parents begged me to live at home when I graduated college and even after I got married. Some people like their family.
Only in America do white folls want to kick them out asap and move to Florida.
Only in America do white folls want to kick them out asap and move to Florida.
Anonymous
03/07/2024 21:57
Subject: Re:Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
Anonymous wrote:This is Michelle Singletary. I object to the headline. If you read my columns, you will see our children's choice to live at home is not a failure to launch but a financial triumph. As a family, we discussed what was the most economical way for them to launch. And living at home rent-free in exchange for saving thousands a month will be a game changer for them. One daughter is saving 15% of her income for retirement while also investing in a non-retirement account. She plans to save most of her salary for a downpayment on a home. Our son is on the autism spectrum and he's saving for the time he will also be able to leave and go right into home ownership. The same for our youngest child, who is an educator. Right now, all three of our children have more saved than many people we know who are making six-figure salaries. They are very money-savvy. In many cultures, it is not a sign of failure to live at home. It's being money smart.
I’m really happy you chimed in. Our kids are dealing with a very different financial reality than those of us raised in the late ‘60s and ‘70s faced (and maybe those born later too), especially in HCOL areas. The things reasonable parents who value raising independent kids have changed along with those realities.
Anonymous
03/07/2024 21:08
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
Anonymous wrote:Anonymous wrote:Honestly, it seems like a reasonable and responsible set-up. Taking what she says at face value, they contribute to the household and are saving. I assume she lives in the DC area - rents are ridiculously high.
I find this set up a whole lot less off-putting than parents helping their adult MC kids with a down payment or daycare expenses.
I guess I feel the complete opposite. Parents helping with downpayments and daycare promotes independence and living on their own. It also lets their kids have the grandchildren quicker. Most people have no trouble paying the day to day expenses of kids but those daycare years are impossible. I pay 4k a month in daycare for my kids.
It's not promoting independence to subsidize a lifestyle that the adult child cannot afford.
Anonymous
03/06/2024 13:39
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
Anonymous wrote:Glad she chimed in but really delusional premise in this thread...WHY NOT set your kids up for success? Look at all the parents who launched their kids only to have them return after a job loss sinking in debt because nobody took the time to show them how to be financially savvy...I did the same with mine and allowing them to stay home after college gave them the time and $ to save, max out their 401Ks and ROTHs and build in that retirement planning discipline, pay off student loans, no new flashy cars, no crippling credit card debt, all following Michelle's advice!
I can only imagine all the people mad at Michelle and her kids are such terrible, obnoxious, invasive parents that their kids refused to spend a single extra minute with them which is why they can't even comprehend the concept of kids living at home post-college not because they need to, but because they want to.
Anonymous
03/06/2024 12:03
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
My then Boyfriend and now husband and I BOTH moved in with his parents upon graduation, both having jobs in Tysons. This allowed us to buy our first home in Vienna Woods for 300k at age 25. With their guidance we also completely maxed out our 401ks starting at age 22 and have done so until now at age 47. we have both stopped doing that because it’s fully funded and we are now diverting all investments into the rental market and taxable investment accounts.
oh and that house in Vienna Woods? it appreciated so much that it was instrumental in us now living mortgage free today. Any mortgage we now carry are for income producing properties.
His parents gave us the incredible gift of time. From age 22-25, we maxed out retirement on investments that have ran a spectacular bull market and were able to together save 100k, 60k of which went to a down payment 40k for a rainy day.
oh and that house in Vienna Woods? it appreciated so much that it was instrumental in us now living mortgage free today. Any mortgage we now carry are for income producing properties.
His parents gave us the incredible gift of time. From age 22-25, we maxed out retirement on investments that have ran a spectacular bull market and were able to together save 100k, 60k of which went to a down payment 40k for a rainy day.
Anonymous
03/06/2024 11:55
Subject: Re:Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
Anonymous wrote:This is Michelle Singletary. I object to the headline. If you read my columns, you will see our children's choice to live at home is not a failure to launch but a financial triumph. As a family, we discussed what was the most economical way for them to launch. And living at home rent-free in exchange for saving thousands a month will be a game changer for them. One daughter is saving 15% of her income for retirement while also investing in a non-retirement account. She plans to save most of her salary for a downpayment on a home. Our son is on the autism spectrum and he's saving for the time he will also be able to leave and go right into home ownership. The same for our youngest child, who is an educator. Right now, all three of our children have more saved than many people we know who are making six-figure salaries. They are very money-savvy. In many cultures, it is not a sign of failure to live at home. It's being money smart.
excellent response to the anonymous trolls.
My oldest kid is off to Virginia Tech in the fall and has stated he would love to come back to DC for work. I hope he can spend a few years at home building up his wealth. He already has college paid for by us, what an amazing way to start your young adult life, debt free and flush with savings and investments.
Anonymous
03/06/2024 10:49
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
Glad she chimed in but really delusional premise in this thread...WHY NOT set your kids up for success? Look at all the parents who launched their kids only to have them return after a job loss sinking in debt because nobody took the time to show them how to be financially savvy...I did the same with mine and allowing them to stay home after college gave them the time and $ to save, max out their 401Ks and ROTHs and build in that retirement planning discipline, pay off student loans, no new flashy cars, no crippling credit card debt, all following Michelle's advice!
Anonymous
03/06/2024 10:24
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
You tell em, Michelle! I have one kid doing the same thing.
Anonymous
03/06/2024 10:22
Subject: Re:Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
This is Michelle Singletary. I object to the headline. If you read my columns, you will see our children's choice to live at home is not a failure to launch but a financial triumph. As a family, we discussed what was the most economical way for them to launch. And living at home rent-free in exchange for saving thousands a month will be a game changer for them. One daughter is saving 15% of her income for retirement while also investing in a non-retirement account. She plans to save most of her salary for a downpayment on a home. Our son is on the autism spectrum and he's saving for the time he will also be able to leave and go right into home ownership. The same for our youngest child, who is an educator. Right now, all three of our children have more saved than many people we know who are making six-figure salaries. They are very money-savvy. In many cultures, it is not a sign of failure to live at home. It's being money smart.
Anonymous
02/24/2024 23:07
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
Anonymous wrote:I have no issue with this: her kids are financially savvy.
I do wonder about local life coaches/parenting coaches with kids with rather pronounced issues…
I assume a life coach is a delusional dimwit who’s going to be bad at parenting
Anonymous
02/24/2024 16:56
Subject: Michelle Singletary - WAPO finance expert has three failure to launch kids in their 20's living at home - RENT FREE
OP is being an a$$. Get your advice from Susy Orman