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Oh your parents pay for food and cell phone and car insurance too?
In other words, you think the way to wealth is to be a leech instead of earning your keep...gotcha.
Hey, I do my part since they're in their 60s. Physical labor. It's a mutually beneficial relationship that will one day help my children. This is one or the best ways to rise into a different social class. Probably one of the only truly reliable ways.
Hey, I do my part since they're in their 60s. Physical labor. It's a mutually beneficial relationship that will one day help my children. This is one or the best ways to rise into a different social class. Probably one of the only truly reliable ways.
Is the market value of your labor greater than the market rent of your portion of the house plus the bills your folks are paying for you?
Is the market value of your labor greater than the market rent of your portion of the house plus the bills your folks are paying for you?
Does it matter? We're symbiotic. We help one another like families do. However I'm being smart with my money unlike welfare sponges and other millennials who complain about how unfair the world is. I make something of it.
Does it matter? We're symbiotic. We help one another like families do. However I'm being smart with my money unlike welfare sponges and other millennials who complain about how unfair the world is. I make something of it.
Yes, it matters. Is it more than the market value of the bills, or not?
Simple. If the answer is yes, than you are actually losing compared to living on your own and working second and third jobs, and hence you cannot attribute any of your financial success to living at home. If the answer is no, you're being a leech and not earning your keep.
There is no reason living at home should be better financially than living elsewhere and performing the same services for pay, unless your parents are losing what you are gaining - in which case, your plan is not sustainable because if your kids do to you what you do to your parents, you will lose it all.
It is a zero-sum game, ultimately. The way to win that works for everyone has nothing to do with living at home. rather, the key is to produce more than you consume. This is a fundamental of economics.
Simple. If the answer is yes, than you are actually losing compared to living on your own and working second and third jobs, and hence you cannot attribute any of your financial success to living at home. If the answer is no, you're being a leech and not earning your keep.
There is no reason living at home should be better financially than living elsewhere and performing the same services for pay, unless your parents are losing what you are gaining - in which case, your plan is not sustainable because if your kids do to you what you do to your parents, you will lose it all.
It is a zero-sum game, ultimately. The way to win that works for everyone has nothing to do with living at home. rather, the key is to produce more than you consume. This is a fundamental of economics.
The thing is wealth is usually a multi generational effort. In cases where you don't magically rise from janitor to CEO you have to slowly save and Invest to make it. By sacrificing for me there's a good possibility I will be a millionaire. And rise above being merely middle class. I can afford to let my kids go to medical school/law school unlike what I did and thus they can maintain an amazing standard of living and pass it on.
Last edited by Dick Cheney; 01-24-2015 at 06:00 PM..
The thing is wealth is usually a multi generational effort. In cases where you don't magically rise from janitor to CEO you have to slowly save and Invest to make it. By sacrificing for me there's a good possibility I will be a millionaire. And rise above being merely middle class. I can afford to let my kids go to medical school/law school unlike what I did and thus they cab maintain an amazing standard of living and pass it on.
Sure, but every multi-generational effort had to start somewhere. There must be a way to make it and build wealth without living at home.
Not to mention that living at home severely limits your job opportunities to something not requiring relocation - and this alone would have ruined my career 7 years ago!
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