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Old 08-26-2016, 02:02 PM
 
91 posts, read 45,369 times
Reputation: 294

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I had a high net worth when I was 18 invested in stock and bonds so can't say I can relate. I can go out right now and find a basic apartment here for $350 a month. If you can't afford $350 a month, something is very very wrong.

I suggest you stay at home if you live in a high col area. I have since age 18. I'm 35 now. I live in a $350k house which I will inherit and don't pay a penny in upkeep. I have lots of money that just piles up in my bank account. My total monthly living expenses are just $300 a month with a net income of over $5000 a month and growing.
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Old 08-27-2016, 08:35 AM
 
Location: USA
6,171 posts, read 4,954,982 times
Reputation: 10548
Quote:
Originally Posted by johnsmith5a View Post
I had a high net worth when I was 18 invested in stock and bonds so can't say I can relate. I can go out right now and find a basic apartment here for $350 a month. If you can't afford $350 a month, something is very very wrong.

I suggest you stay at home if you live in a high col area. I have since age 18. I'm 35 now. I live in a $350k house which I will inherit and don't pay a penny in upkeep. I have lots of money that just piles up in my bank account. My total monthly living expenses are just $300 a month with a net income of over $5000 a month and growing.
It's unfortunate, but high COL areas are where most of the decent jobs are these days.
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Old 08-28-2016, 03:08 PM
 
125 posts, read 71,546 times
Reputation: 159
Anything is possible; I don't recommend the whole move out thing though.. In fact I think it's best to stay home during college, and commute to one. (Up to an hours drive should be fine)
I think Americans would be a whole lot better off if they tried multigenerational living like the Hispanic and Asian immigrants.
The Amish do it and they aren't doing bad at all...

In fact it all comes around, your kid is allowed to stay home, so then when you get too old to live alone your kid brings you in to his/her home to care for you.

That's how it used to be done, but not anymore I guess..
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Old 08-28-2016, 04:11 PM
 
47 posts, read 42,146 times
Reputation: 69
Quote:
Originally Posted by LudditeMan View Post
Anything is possible; I don't recommend the whole move out thing though.. In fact I think it's best to stay home during college, and commute to one. (Up to an hours drive should be fine)
I think Americans would be a whole lot better off if they tried multigenerational living like the Hispanic and Asian immigrants.
The Amish do it and they aren't doing bad at all...

In fact it all comes around, your kid is allowed to stay home, so then when you get too old to live alone your kid brings you in to his/her home to care for you.

That's how it used to be done, but not anymore I guess..
I'm not going to college
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Old 08-28-2016, 04:25 PM
 
Location: Oregon, formerly Texas
5,242 posts, read 3,398,836 times
Reputation: 8783
Yes.

Step 1: get a job that brings in at least 1500 a month net. Honestly, this is not that easy. At age 18 without work experience, it may take a while. But once you're bringing in about $1500 a month, you can start shopping for rooms.

Step 2: rent a room in someone's house or apartment, target rent ~500. I live in an above average CoL place and decent rooms in pretty nice houses rent for $600. You can get a cheap room in a crappy apt. or duplex for 350-450.

Eventually work your way up to making more money, rent an apartment on your own. More money, stable career-type job, buy a house, get married, etc... (if you want).

College helps. You will find the competition for living wage jobs to be intense.

Alternate route - join the military. I did, and I never needed mom & dad's money again.
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Old 08-28-2016, 04:28 PM
 
17,627 posts, read 12,218,187 times
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Quote:
Originally Posted by jamary1 View Post
But you're mad that your dad won't buy you a car? You seem to be pretty upset about that in your other posts?


Very true and fun call out
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Old 08-28-2016, 04:31 PM
 
125 posts, read 71,546 times
Reputation: 159
Quote:
Originally Posted by redguard57 View Post
Yes.

Step 1: get a job that brings in at least 1500 a month net. Honestly, this is not that easy. At age 18 without work experience, it may take a while. But once you're bringing in about $1500 a month, you can start shopping for rooms.

Step 2: rent a room in someone's house or apartment, target rent ~500. I live in an above average CoL place and decent rooms in pretty nice houses rent for $600. You can get a cheap room in a crappy apt. or duplex for 350-450.

Eventually work your way up to making more money, rent an apartment on your own. More money, stable career-type job, buy a house, get married, etc... (if you want).

College helps. You will find the competition for living wage jobs to be intense.

Alternate route - join the military. I did, and I never needed mom & dad's money again.
Or if you stayed at mom and dad's until you were 20 and saved at least 1k of the money every month you'd have enough to make a downpayment on a modest home, or purchase/start a business.
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Old 08-28-2016, 04:35 PM
 
47 posts, read 42,146 times
Reputation: 69
Quote:
Originally Posted by LudditeMan View Post
Or if you stayed at mom and dad's until you were 20 and saved at least 1k of the money every month you'd have enough to make a downpayment on a modest home, or purchase/start a business.
That's not an option
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Old 08-28-2016, 05:29 PM
 
4,810 posts, read 1,360,040 times
Reputation: 4784
Quote:
Originally Posted by ChappelleJr View Post
I'm not trying to be another 18-25 year old living with mommy&daddy.
Don't you think that if you really wanted a good answer to your question, you would have gone into some detail to mention whether you're working (or have good prospects) or whether you have substantial savings?

I'm going to guess that if you didn't have the foresight or the consideration to provide any basic information then, no, you're probably not a good candidate for living on your own at this point.
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Old 08-28-2016, 06:00 PM
 
47 posts, read 42,146 times
Reputation: 69
Quote:
Originally Posted by Clarallel View Post
Don't you think that if you really wanted a good answer to your question, you would have gone into some detail to mention whether you're working (or have good prospects) or whether you have substantial savings?

I'm going to guess that if you didn't have the foresight or the consideration to provide any basic information then, no, you're probably not a good candidate for living on your own at this point.
I am
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