He says, "When do you think a kid should leave home? I'm 23 living with my mom to save aggressively about 70%. It's an amazing opportunity. What do you think? Is there anything he should consider about this arrangement?" Man, this is a great question.

And I love that when young people ask this question, uh, because there are some unique things that can happen. Like, you can go live at home, and if you live at home and your parents aren't charging you rent, your housing becomes incredibly affordable. Or maybe you're on

the family cell phone plan, and even though you enter into adulthood, you're still on the family cell phone plan. Or maybe you're under the age of 26 and you're still on your parents' health insurance. All of these things are amazing things from a financial

standpoint if they're causing your footprint, your expenses to be super low. And I always find it so interesting when young people are so excited to fly the nest. They're so excited to go out, they're so excited to be on their own, their independence, like, "Mom, Dad, I just turned

18, I'm ready to..." or, "I'm 22 and graduated college, I'm ready to move out. I want to pay for my car insurance, I want to pay for my cell phone bill, I want to get my own health insurance, I want to do all these things." And while that's incredibly

noble, realistically, I don't know if that's always the most prudent financial decision, because often times it's more economical to take advantage of some of the opportunities that are available to you. In my opinion, so long as it is not negatively impacting the life of your

Parents, I'll tell you what I did when I very first got out and I was one of these people that I was so excited to be independent and so excited to be out on my own and show the world that I could go off on my own without any help, but then I

called Verizon and I recognized how freaking expensive cell phone bills were and I was like, okay, this is a problem. Can't go get my own cell phone plan, not going to do that. Hey, Mom and Dad, is it cool if I stay on your cell phone plan

and I just pay you guys what the line is costing you so that way it's not adversely affecting you and I'm also contributing to it, so I'm paying less than I would pay otherwise and my parents are getting subsidized for what

they were already paying and it was sort of this best of both worlds approach. I think if you can have an open and honest conversation with your parents, there is nothing wrong with taking advantage of opportunities available to you and stacking cash in this very unique season

of life that you're in. Agree, disagree? Want to fight? Oh, he wants to fight. I can already see it. I just, um, I I I have a different take. See, I have I want to give you the financial mutant take, but I also want to give you the conflict of

interest take from a parent who has a 21-year-old, so I'm just going to go first of all. I got to give you the analytical stuff before I get into the emotional stuff. If you read *The Millionaire Next Door*, one of the things that Dr. Stanley and

Dan Ko covered is is that millionaires success people who are good with their resources a lot of times one of the big traits that shows up is that they adult children turn out to be financially independent as well um meaning they actually launch and I think that's the

big concern and there's a lot of people out there with this failure to launch they live at home forever so but that that's the statistical stuff now let me bring it back because I wrote a few notes I'd first ask the question because this is one of those things a lot of

people remind me when you think about multi-generational living um especially let's go if the if you were because Joe sounds like he's he's younger living at home fast forward to when Joe's you know 45 to 50 years old he's got his own

family and the parents you know might come back you know and that that's a lot of times what I always say is is this out of necessity or is this choice see you I think it's a beautiful thing when I look at other cultures around the world where

you see the grandparents live super right there with the parents and they have this whole you know families are together and I grew up in a family where I didn't live with all my cousins and stuff and I was at a funeral just unfortunately like 3 weeks ago and I

think of how what a blessing it was and and it's so sad that those moments and time are gone but every holiday every event my relatives live close enough that we had get togethers it felt like a family reunion happened at least four to

five times a year and you your cousins become part of the family you know they well they are your family but you actually know your cousins like you you hide your toys when this cousin comes over you you know you it's all these fun things that is the fabric of life that

gives it meaning and excitement so I would say is this a necessity or choice and it's just like we talk about why the best thing you can give your kids is to be financially independent so that if y'all decide in the future that you're

going to move in with them or maybe the house next door or the house down the street it's out of a choice not a necessity because y'all just decided this family fabric is so tight we want to be there well I think I would tell

you Joe kind of the same thing what's the why you know there's nothing wrong if you're doing if you're checking all the boxes on success of life but in this moment in time because maybe you got career changes or you haven't found the

significant other yet that you want to go start your new life with or whatever else I actually think it's okay as long as there's a why and it intersects and this isn't out of necessity meaning that you have no other options so you're stuck at home this is a choice because

the quality of life and memories is there but just don't be a Failure to Launch have the why connected versus this is just life is going to be and I'm going to be 35 years old still living at home that that feels a little little disconnected and not what what I would

hope now here's where the conflict of interest is my daughter is 21 and I've told you the world and life is mean is because the older you get you're going to get more sentimental but sadly the better job you do as a parent the

more independent your kids will become and it's kind of this weird thing so the sentimental side of me is is that I would love if my daughter graduates college and then needs to come back just for a little bit just so I get a little

more of that love and that fabric you you have so I have a conflict of interest but I also tell my wife when we don't see her for you know a period of time that's actually good that's the way life is supposed to work she's

supposed to go make her own life and get independence but it doesn't mean that your parents don't love seeing you and and being around you um so Joe I just make it's like everything in life take an active role in your life and actually

live your life like you're the main character of your adventure and not just passively letting life happen to you if you have decided that that there's enough things in the pro columns to live at home maybe it's because you get a head start but it's also because you get

to make some memories with loved ones and it's not to the detriment of your social life and of you becoming who you're going to be an ultimate life I think that's okay but just make sure you're taking a true pulse of who you are and where you're

Going, I love that. I threw one thing because you said this, but I think it's worth an explanation. If, if you choose to do that and you do all the things he said, don't allow the opportunity to create an environment where you squander the opportunity, meaning you just live in

luxury doing all the stuff. If you're going to take advantage of that, make sure you are indeed actually stacking the cash, not just going out and driving a fancier car and going on nicer trips and doing that sort of stuff. It should be an opportunity to catapult your

I'm Saving 70% But Living At Home

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The Money Guy Show

Question about the ideal age for children to leave home, focusing on a 23-year-old saving aggressively by living with parents.

Significant cost savings from reduced housing, cell phone, and health insurance expenses.

Common desire of young adults to gain independence and pay their own bills.

Weighing independence against financial prudence; suggesting it's often more economical to leverage family support.

Personal anecdote of staying on parents' cell phone plan while contributing financially.

Importance of open communication with parents about financial arrangements.

Long-Term Implications and Parental Perspective

Financial independence of adult children as a key factor in long-term success, referencing *The Millionaire Next Door*.

Questioning whether living at home is a necessity or choice; considering multi-generational living.

Comparing cultural norms of multi-generational living and its impact on family relationships.

Importance of having a reason for living at home, emphasizing choice over necessity.

Parental conflict of interest: wanting children's independence while also cherishing their presence.

Caution against using the financial advantage to overspend; emphasizing the importance of saving and investing.

The opportunity should be used to improve long-term financial stability.