Living at home with your parents?
This is an opportunity you will never have again in your adult life. Use it wisely!
Your parents may get on your nerves. But living at home with them is a huge opportunity to save and start building your wealth!
Many people use this time as an excuse to party and be irresponsible with their money. Let me tell you, folks: you are a fool if you don’t take advantage of the free or dirt cheap rent your parents charge. Not to mention free cable and utilities!
What’s more: you’re only going to have this opportunity for a limited time.
When I was younger and lived with my mom, I was a saving machine. If I could have, I would have saved 90% of my paycheck.
I don’t care if you’re a millennial, a Gen Xer, or whatever. Take advantage of living with your parents, and at the very least, save! If you can save and invest, that’s the holy grail.
I believe that we all have opportunities in life to improve our economic situation. You just have to be smart and aware enough to know a great opportunity when you see one.
Imagine this scenario:
- You’ve lived with your parents for the last five years.
- You saved $500 a month. That’s $6000 annually. It comes out to $30,000 over five years.
- You invested that $6000 a year in – let’s say Amazon, for the hell of it. Buying over the course of 12 months each year, you’d now have about $90,000.
I see so many people in this situation who squander the opportunity – because they don’t see living at home sweet home for the opportunity that it is.
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