I’m 23, How Should I Be Investing?
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Why is staying with your parents regarded as Wrong or a bad thing, you can live with your parents and still contribute as equals! 🤦♂️
Becoming adult is not weather you move out of your parent house or not, is about taking care of yourself and taking care of other. If you still living with you parent don’t be a dead weight. Help them out and save up for your future. I’m 225 still live with my parent, I pay for their car insurance/ utilities bill, food and they take care of the mortgage. That’s a win win to me.
I only agree with him because staying with your parents for too long destroys your self-esteem and confidence.
I moved out at 19 and moved back in at 23, I make 70k a year and don't plan on moving out ever lol, not till my passie income pays for all my expenses
Staying during his work study is fine but after that he has to move on and if he can't afford to live in NYC doesn't mean it's okay to mooch off his parents just because they can. I don't understand the people in the comments who justify it this way. If you grew up in beverly hills and waited until you could afford it there to move out, you never will. NYC is the same.
Young man, If your parents are okay for you to stay in the house I would until you are ready to leave. I'm sure they are looking out for your future and don't want you to get into debt. Make sure you are giving them some money to help pay for food & utilities. They might say they don't want it but do it anyway. It will make you feel better. This is the time to save as much money as you can and not go out and buy this & that. The more you save will help you tremendously when you do move out. You will have a bright and debt free future waiting for you. Make sure to Thank your parents for helping you be successful in your future.
I would liquidate his assets and put the money to saving for a house and put 15% tworads dividend stocks to cash flow savings on top of income
I'm 24 just graduated hopefully starting a job soon. With how housing is rn, I wont be moving out till at least 26 probably 28. My plan is to just contribute to household bills until then, and I will invest nearly every dime i make.
I like buying single stocks if it's actually a company I fully believe in. Nothing wrong with that
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I disagree, live with family as long as possible – if it is okay with all parties and possible, then stay home for as long as you can. We live in different times from when these old heads grew up and could buy a nice first home for 80,000 – 120,000 and also with inflation through the roof, and cost of living/rent is astronomical, it is the smartest and financially responsible thing to do. Invest now and invest young aggressively and pay off high interest debts!!!
In many cultures adult children stay at home until they marry. It's more economical and mutually beneficial in many cases. I want my daughters (now teens) to stay with me as long as they like in order to save money.
Shaming someone for living at home is crazy.
I have about 15k in savings , and 22 what should I invest in ive tried crypto lost on 6 k so not looking to go back there, what could I do with this money to bring in more revenue please any help is greatly appreciated and welcomed
BAD ADVICE why are you telling the kid to move out? for what? to pay ridiculous prices for rent
Do not move out! No rush pay rent & when u have enough money to live stress free do so. I had to move back with my parents I was 24 good job and 60k in savings sucks cuz now I’m 30 1 kid on the way my job won’t give me a raise and currently looking for another one
I’m 35 and I have about $250k liquid in savings which I plan to put towards becoming a homeowner but based on the current high prices on real estate, do you suggest I hold from buying or do stocks for now?
It's not Dave's day and age anymore. Living on your own isn't so easy anymore, and in NYC?? Forget about it, he'd be better off buying a brand new vehicle and living out of it. It's also so stupidly American that the younger generations are constantly pushed to leave the house. In other countries/cultures it's extremely normal to have multi-generation households.
I struggle to imagine a worse financial decision than foregoing free rent to pay for an NYC apartment without receiving any equity.
Absolutely nothing wrong with staying at your parents' house & stacking cash. As long as you're happy there and they're happy to have you, May as well take advantage.
I'm 23, have over 50% my income in savings, & 100% debt free. No way in hell I'd be able to say that if I had moved out at 18-20 like boomers expect you to.
You should move out when you are 18 latest
Started my Roth at 21
Dave Ramsey is the biggest boomer ever wasn’t hard to move out back in 1980 buddy , we live in a different society now
It’s nyc. Good luck paying rent. I would live with my parents until I got married
Sounds like an only child. No need to move out asap. Stack that money 🤑. You’re doing fine.
Ain’t no wayyyyy yall are really telling a brother to move out that’s crazy dude
I was just like this kid and am so glad i didnt take daves advice here. Graduated engineering school a bit late at 26 but secured a good job in my hometown making 130k total package. I moved back in with my parents after 4 years of being away at college and have saved 140k in 2 years. Half of which is in retirement accounts. I am planning to move out now at 28. If you have a good relationship and aren't a burden on one another there is really no good reason why you shouldnt continue saving and live at home until you are truly ready. I fully intend on taking good care of my parents in the future since i earn more than them both combined and they have always supported me.
The biggest thing I learned from this video was 50% of investing is buying good companies at good prices and the other 50% is controlling your emotions when . market is moody.I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
Dont listen to Dave on this one. A boomer who have no clue how hard this new generation is.
Get your $20k passive income. Then move out. Doesn't matter what age.
Horrible advice , If the family dynamic works and his parents are ok with it I don’t see a problem moving out at 28 , that’s still extremely young and gives the gent time to really save and invest into his future , that’s a luxury not a burden
This was really bad advice and shows how out of touch Dave is with reality of the common folk. Living with your parents until you’re 28-30 is not a bad thing, it’s a win win for both parents and child
if he's gonna finish his program at 25 then to move out at 26-28 is fine? wuht the hell? he might meet a lady or move in with friends, anything can happen but plan seems good, stay at home 👍
Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
0:00 WHO'S IN NEW YORK CITY?
Dave costing this kid hundreds of thousands if not millions, shocker
Am 18 and have 107k saved up
Has he made any videos on alternatives the Roth IRA if you make too much money.
Most unrealistic opinion given. While you have the security of your parents perfect time to invest. A kid in NYC getting told to move out before they have any money invested making 15k a year… makes sense. By the time he moves out and builds up that emergency fund they will tell him “‘you missed the most important time of your life for compound interest”
theyre all about saving money but want him to move out???
Better off riding the 'living at home' horse as long as you can. Stack coin. Do not use it as an opportunity to spend on frivolity.
No sense "becoming an adult" when, as my old man would say, "don't have a pot to piss in" and fall on your face, increasing the chance to be destroyed financially or worse.
Stay for as long as you can, within reason. Save that money
I only moved out at 29. Best decision I ever made. I was able to save and build a foundation when I had very little income.
I understand why some move out, but my parents moved from disciplinarians to “friends” in my 20s, a time in my life I found a lot of value bouncing work and life off them in a different way from my childhood.
I moved out of my parents house at 21, just to move right back in a year later. Best to stay as long as you can, to save as much as possible and learn
What’s wrong living with your parents
Stay at home long as can
You don’t have to move out asap bruh, honestly living w my parents is awesome! Lost of money saved
I disagree with Dave, as long as parents are okay, he should spend as much time whith his parents, you will never be able to get that time when theyre gone..
You want him to move out with no established credit or down payment for a house? Seems a bit unwise.