Should A 26 Year Old Live At Home Given The Circumstances? (Chicago: rent, student loan)

[CSD610]

If he is helping with the household expenses at his parents home as well as paying off his debt and saving money I don't see a big issue with the situation as it is.
He needs to do what is right for his life and not worry with what some random unknown girl thinks about the situation.

[lycos679]

Originally Posted by Irishtom29

If he were my kid I'd throw him out, just as I did with my sons when they hit 21. Adult children have minds of their own and cause conflicts and rightfully so if they have any moxie. There can be only one bull in the pasture. IMO that this fella is content to live with his parents at his age paints him as a...well loser is too strong a term...milksop?

Did you miss the part about the debt? It would seem the parents didn't pay for the education.

Originally Posted by Vlajos

Sounds like you don't travel much.

I've gone to Europe and Russia every year since I was 2, but the poster I responded to singled out white people as if they have a different culture than other Americans and they arguably do, but the housing situation is similar among American cohorts. If the poster meant to compare Americans to non Americans then there would not have been a need to single out white people.

[Irishtom29]

Originally Posted by lycos679

Did you miss the part about the debt? It would seem the parents didn't pay for the education.

I didn't miss it. Maybe he should work part time on the side, that's what I'd do before living with my parents. Or I'd live with a room mate.

If this guy and his parents are content with the situation that's their concern. But opinions were solicited and I wouldn't be content with it from either angle.

[emathias]

Originally Posted by lycos679

Outside of Russia, which by default isn't America, and excluding Mexicans, I don't think I have seen any multi-generational households.

You don't know any South Asians or East Asians? For people who grew up in Chicago, or who imported their entire family, I know quite a few who live in multi-generational households. Certainly people who grew up elsewhere and moved here after college don't usually live in multi-generational households, but once they have kids it becomes very common for parents to move in. I also know a number of African-American households where grandparents live with their children and grandchildren.

[Vlajos]

Originally Posted by emathias

You don't know any South Asians or East Asians? For people who grew up in Chicago, or who imported their entire family, I know quite a few who live in multi-generational households. Certainly people who grew up elsewhere and moved here after college don't usually live in multi-generational households, but once they have kids it becomes very common for parents to move in. I also know a number of African-American households where grandparents live with their children and grandchildren.

This, I also know multi generational households from eastern Europe (not Russian).

[baileyvpotter]

Originally Posted by emathias

You don't know any South Asians or East Asians? For people who grew up in Chicago, or who imported their entire family, I know quite a few who live in multi-generational households. Certainly people who grew up elsewhere and moved here after college don't usually live in multi-generational households, but once they have kids it becomes very common for parents to move in. I also know a number of African-American households where grandparents live with their children and grandchildren.

Originally Posted by Vlajos

This, I also know multi generational households from eastern Europe (not Russian).

Multi-generational households are not a new concept. It was common in the US and abroad for decades,
you know the concept of the "family." It seemed to work back then and with the economy it's coming
back. If one of my children (btw) who both have student loans (and they did work when they went to
school) lost their job or something else happened - of course my husband and I would take them in and
do whatever we had to. MG, they are still my children no matter what age they are.

[Tex?Il?]

Originally Posted by Chicago87

I was talking to a friend of mine who is 26 years old. He has a decent job that pays $50,000 to $55,000 a year, but is still living at home to pay off his student debt and save some money.

He said he would be stretched thin and not be able to save any money if he moved out. He also does not want to live in a bad neighborhood.

Paying off debt and saving money is usually a good thing, but is he still considered a "loser" for living at home at age 26 despite a decent paying job and his debt payoff strategy? Additionally, do girls consider that to be a huge turnoff, or would they be understanding of the situation?

Any single 26 year old guy, even in Chicago, who is stretched thin or thinking he has to live in a bad neighborhood on $50,000-55,000 a year even with student debt has some serious issues with managing money and/or is living the high life. Is he getting bottle service at the hottest clubs?? The guy should move out, unless hes taking care of his parents. Sounds like he has some spending habits or something hes not telling about.

And yes, I think girls would be turned off most of the time.

Whether we like it or not, mainstream American culture expects young people to live on their own.

[baileyvpotter]

^^^^What if he went beyond a Bachelors and received a Master's or a Doctoral degree? The amount of the student
loan does make a difference.

[lycos679]

Originally Posted by Tex?Il?

Any single 26 year old guy, even in Chicago, who is stretched thin or thinking he has to live in a bad neighborhood on $50,000-55,000 a year even with student debt has some serious issues with managing money and/or is living the high life. Is he getting bottle service at the hottest clubs?? The guy should move out, unless hes taking care of his parents. Sounds like he has some spending habits or something hes not telling about.

And yes, I think girls would be turned off most of the time.

Whether we like it or not, mainstream American culture expects young people to live on their own.

Mainstream America is also financially illiterate, half of them anyway. We are in the top 5 when ranked by median income, but we are 27th in median wealth.

[eevee]

Speaking as a woman in her late 20's, this wouldn't bother me, especially if he's helping out in the household, financially and chore-wise and isn't living as a adult child under Mommy's rule. In fact, I'm more likely to appreciate a guy who does this versus one who stretches his budget thin so he could live in a party neighborhood like Lakeview with his "bros".

Multi-generational homes are pretty common in immigrant communities and I have tons of relatives my age, male and female, living at home. They help their parents with expenses, pay down their own debt, start saving up for their own future homes and families. Everyone wins out in the end and the guy has some money to put down for his own place once he gets married. I think I read somewhere that only in America are parents so quick to kick out their kids and kids are so eager to get out, that in other cultures, living at home is the norm and not a sign of the child being a "loser".