Your 23, still live with parents, about to make 70k year, what’s your plan?

PrimordialXY · 2020-05-18T02:49:27+00:00

Milk one more year with parents while saving as much of that income as possible. I'm talking full fragulity and delayed gratification. Max out Roth IRA for the year, pay off any loans or debt, and then finally move out to a moderately nice apartment in my ideal location which would be close to work and activities because fuck a commute.

purnoss · 2020-05-18T04:07:20+00:00

Why the hell would he move out any time soon? Lmao. Live there as long as you can, move out around 26 or so. Save all that money.

Greaterbird · 2020-05-18T06:29:56+00:00

Buy the house from them. Now it's my house. My house, my rules. I'm the dad now. Make my parents sleep in separate bedrooms. It's easy because they already do that. That just makes it easier to fuck my mom. Because I'm the dad now. Make myself a little brother. I'm like a father to him.

I raise him in my image. Eventually he gets a job at 23 making the 23 year inflation equivalent of 70k per year. Eventually he buys the house from me, fucks my mom and makes me and dad sleep in the other room while he makes himself another brother.

I guess I should have seen it coming.

Raizen42 · 2020-05-18T02:52:14+00:00

Live with your parents a little longer and save as much as possible. Put 20% down on a place so you don’t have to pay PMI and move out. I’m 24, make the same money you do and bought my own place 3 months ago. Nothing beats living by yourself you can do whatever the fuck you want and having your own place it’s a plus for pulling girls.

I’m also gonna start traveling soon as there’s more to the world than your hometown has to offer. If you’re interested in traveling you should do the same. Also invest some of your money into a Roth IRA or something similar. Other than that just have fun and enjoy life man.

2020-05-18T02:46:18+00:00

Live at home for a year and build up a fat stack....save every fuckin penny. Then next year put a down payment on a house.

Edit: it’s going to depend on your budget you want to have 20% saved to avoid PMI.

Typically new has a bit of a premium attached to it.

Don_Draper27 · 2020-05-18T03:47:50+00:00

Renting something low cost with a high quality individual can add serious value to your market. Especially if they’re social butterflies you can easily jump in on their social circle.

amwfhunter · 2020-05-18T05:39:07+00:00

Stay with your parents and make the money first.

Figure out your taxes and plan your budget around that.

With respect to your house, what do you plan to do with it? Are you going to live in it my yourself or rent out rooms to help pay for costs?

You could always buy a house to rent out completely and continue to live with your parents.

Consider also investing some of your money in the market. Right now market is bearish so do your research. Long term buy and hold in index funds.

The key of your objective is to establish good credit and increase your net worth using more tactically aggressive approaches as you are young so you can take on more risk.

Johnewenthethird · 2020-05-18T06:06:27+00:00

What job?

2020-05-18T09:42:57+00:00

If that was me I wouldn't rush out the door. Probably get a buy to let property first and then my own place later. Good luck.

kdsflyfree · 2020-05-18T15:53:19+00:00

Invest some green in a Dave Ramsey course like FPU. This will answer your question.

2020-05-18T02:37:46+00:00

Move out soon lol

RedRiver0415 · 2020-05-18T09:03:27+00:00

Learn the difference betwen "your" and "you're."

HurricaneHugues · 2020-05-18T05:54:34+00:00

Buy *The Richest Man In Babylon
Speak to a financial advisor and start building a robust investment portfolio. Saving is for the blind.
Stay 1-2 more years with oarents to cut back on cost of living.
Invest. Invest. Invest.

2020-05-18T02:37:57+00:00

Move out.

Title	Your 23, still live with parents, about to make 70k year, what’s your plan?
Author	KaiSmashSmashSawmash
Upvotes	3
Comments	22
Date	May 18, 2020 2:28 AM UTC (6 years ago)
Subreddit	Posted in /r/askTRP
Original Link	https://old.reddit.com/r/asktrp/comments/glstb5/your_23_still_live_with_parents_about_to_make_70k/
Archive Link	https://theredarchive.com/r/askTRP/your-23-still-live-with-parents-about-to-make-70k.665794 https://theredarchive.com/post/665794

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