Jump to content
Washington Football Team Logo
Extremeskins
Forum Rules and Guidelines

NYT: What is it with 20-somethings?

MattFancy

By MattFancy
in The Tailgate

Recommended Posts

mjah

mjah

Posted
Posted
1/3 of Gen Y live at home.

Strictly speaking, 100% of Gen Y live at home. ;)

Let's say Gen Y is, by birth year, 1980-1995. That leaves a nice 5-year transition away from the end of Gen X (for instance, I'm in that transition period). And please, no claims that Gen X lasted longer than that. I know, I've seen the websites too. It's BS.

Anyway, by the above definition the 33rd percentile for Gen Y age was born in about 1990 and is currently 20 years old (subject to some assumptions about birth rate per year, etc.). The youngest were born in about 1995 and are currently 15 years old.

I guess I'm not all that surprised, then, that 1/3 of Gen Y'ers list their parents' address as their own permanent address. Even if the whole thing was driven by age -- which I realize it's not, but still -- I'd expect something in that ballpark. I do wonder what the rate was for other generations at the same age.

I don't see the big deal about living with the folks -- for 3 years or less anyway -- after college. Never did it myself, but it seems like a smart thing for many a savings-minded recent grad to do. And it's not like most suburban parents don't have the room...

Link to comment
Share on other sites
SloppyOneXXVI

SloppyOneXXVI

Posted
Posted

I went into business for myself at 26 and it did not work out at 28 I had to sell everything I owned to pay off the debt I ran up. I had to swallow my pride and move back in with my parents. Was one of the hardest things I have ever done but when you have a newborn you will do anything to make sure they have a roof over their head. We paid rent and I worked my ass off to save up enough money to buy a new place. It took 8 months and we have never looked back.

The point is there are sometimes that people need to do this. And thank god I had a great family that supported me.

But I also see a lot of 20 somethings that just want to freeload and that does bother me. Unfortunately it is more then just the 20 somethings more and more people want a free ride it seems

I think everyone can agree that the "freeloaders" trying to "find themselves" are wastes and make my whole generation look bad.

I quoted this particular story for a reason. With no money, debt, and a new kid he was able to afford a new place in 8 months... 8 months!!! Even with the low housing prices anyone living in the DC area can't do that. Say, for example, I'm 26 and make 80k (which is alot for 26). In eight months, with no rent, cell phone, car payment, insurance, food costs, possible rent to parents and 33% taken out in taxes (I'm estimating) you can save $40,000. That's a down payment on a $200,000 home. The ONLY thing you can buy for $200,000 in this area is a condemned home or a one bedroom junk condo.

My point, our current economy does not allow for an entry-level job member (making 80K) buy a home within eight months of joining the labor force.

That's assuming you have ZERO expenses. So, while I'm not doing it, I understand why people would want to stay at home and save money. Everyone (parents and kid) bites the bullet for two years and the kid is better off in the long term.

To me, this is more logical than paying $1000 a month for rent that has zero investment value.

Link to comment
Share on other sites
thebluefood

thebluefood

Posted
Posted

I don't get it, either. I'm working my rear end in school because the last thing I want (or need) to do is live with my parents any longer. They're getting along in years and don't need to be taking care of me any more. I need to start fending for myself and scratching out my own living.

Link to comment
Share on other sites
Special K

Special K

Posted
Posted

Why would we move out of the house if our parents make life easier for us at home?

I was definitely one of these people. I lived at home for a year and a half between college and grad. school. My dad needed help at his office about the time I graduated in 2005 and I was still undecided between med school and public health school. So I moved home with the parents and started working at the office. It was freaking awesome. I worked at the office all day and was able to help my dad and I felt good about that, and got to experience a lot more of the clinical side of health care, came home at night where my mom cooked me a balanced meal, washed my clothes, even cleaned my room, lol. Just like the good old times! Played tennis with my dad all the time, got to spend time with my nephew and nieces in the summers swimming in the pool. It was the life.

Now, one thing is, I think my parents were cool with this because they knew it was a temporary thing. If I had the intention of sitting around at their house indefinitely they would very likely not have been "okay" with that. But as it was, I had some issues to deal with at the end of college and I think they were happy to have me home after I graduated to keep an eye on me and help get me going in the right direction again. They knew I wasn't going to be there for more than a year or two and by working with my dad, I was able to kind of reconnect, get back to my "roots," and do something constructive to help the family. I was also able to save money to use for the ridiculous rent my roommates and I had to pay in SoCal in grad. school and I was home to be involuntarily voluntered by my dad and brother to help with YMCA youth sports programs (which was actually a great thing :D ).

So there ya go. There's my early/mid-twenties life's story. Going home after college was probably the best thing for me. My parents were able to slap some sense back into me and I became much closer to my family. I saved up money, evaluated what path I wanted to truly take, and took it. Oh yeah, and when I was at home, I met my future husband (who's very different from me in that he's been on his own since he was 16) :) We currently live on our own and pay all our own bills and don't plan on moving in with our parents in the near future :silly:

Link to comment
Share on other sites
heytred

heytred

Posted
Posted

Maybe it's just a culture swing... times are and have changed. Sure, it's outside the norm for older generations, but I don't find it that odd, and I doubt a majority of "20-somethings" do either.

Although, there is a huge difference between free-loading and transitioning.

Link to comment
Share on other sites
Rdskn4Lyf21

Rdskn4Lyf21

Posted
Posted

:ols:

I was just talking about this with my mom yesterday. She knows how frustrated I am to still be living at home. I love my parents and get along great with them, but this definitely wasn't the plan.

Growing up, I wanted to move out when I went to college. I was planning on Maryland because my grandparents live across the street and many cousins have gone there. Unfortunately, out of state costs would have been brutal, and I was lovestruck. I decided to go to school down here (I'm an idiot).

A few years in down here, and I began working at a company that was setting me up nicely financially (I changed schooling to part time, I'm an idiot). The only problem is, just as I was getting ready to put a down payment on the place, the company started downsizing. In less than two years they went from 80 employees in 3 offices in South Florida to 2 in an apartment. Whatever money I had saved I put into full time school again.

After a year of not being able to find a job and spending most of my savings (the only thing I don't pay for at home is rent and occasionally food). I took a part time job at my school because I needed some sort of real income, even though I'd be making more weekly off unemployment because of my previous job.

I'll be finishing my Bachelor's this fall and my Master's next fall. I've already begun work on my Master's, and the tuition costs coupled with a part time job leave room for little else. I am getting student loans now, and I figured that I would use the extra money to enjoy life traveling a great deal now when I have less responsibilities. After all, I'm hoping to resume working full time after fall (:fingersx:)

Do I like living at home? I get NHL Center Ice and Sunday Ticker for free, so it's not the worst of things. Can I wait to get out? Hell no. If I had the money and a full time job, I'd be out on my own.

This isn't what I envisioned growing up, but I'll make the best of it.

Link to comment
Share on other sites
Mr. S

Mr. S

Posted
Posted

Do I like living at home? I get NHL Center Ice and Sunday Ticker for free, so it's not the worst of things. Can I wait to get out? Hell no. If I had the money and a full time job, I'd be out on my own.

This isn't what I envisioned growing up, but I'll make the best of it.

I think that's the case for most of us right now. We don't want to be at home, but we can't necessarily afford being out yet, whether due to being in school, expensive houses/apartments, no jobs, low income, etc....

Yeh I'm looking for a job right now, and if I got offered a job that paid enough, I would be out within 3 months or so. My (Indian) parents are mixed on it, my mom surprisingly is the one who understands, my dad is still used to the idea of kids staying at home until they are married.

Maybe it's cause I don't watch as many sitcoms anymore, but I notice there was a huge push to move out after 18 while growing up in the 90s portrayed in sitcoms, and that does not seem to be the case anymore. My friend always said senior year of college that this was the last schooling he wants to do and that he expected to fly the coop soon. He grew up in a typical old-view American household. He instead had to live at home until he was 24, now still barely manages by living paycheck to paycheck though he knows how to make savings with it, and is attending school to obtain another degree.

You can say all you want, but when one of the smartest and most grounded people I know who was raised with the old-school mindset of leave when you're 18 is still trying to make things work, I think that helps to exemplify the culture right now.

Link to comment
Share on other sites
VaSkinsNut

VaSkinsNut

Posted
Posted

Well i'm almost 31 but I wasn't in my 20's that long ago.

You're almost set up to need to live at home unless Mommy and Daddy pay for your college, I really feel for people who don't have a family to fall back on.

After college I had over $75,0000 in student loan debt plus I had a car payment (A used chevy cavalier, from Carmax.)

My first job paid $27,500 and that covered most of my expenses for the college loan payments and the car but no way in hell could I afford rent in NoVA.

After 2 years I was up to $37,500 after a promotion

4 months later I got a new job and made $45,000 (It wasn't until here where I could afford to move out)

2.5 years later I got my current job and Make close to $90,000

Those first few years would have been impossible if my Dad didn't let me live with him and work to pay off my car and some of my student loan debt, (to reduce my monthly expenses so I could afford to move out), I don't know how I would have survived out here.

Granted the degree is why I was able to eventually take care of myself, and anyone who says college is unneeded is talking out their rear end. But those first few years I don't see how anyone could afford to live on their own with just their entry level job these days.

Link to comment
Share on other sites
Stugein

Stugein

Posted
Posted

I think the lesson that we're all learning here is that college is overrated and entirely too expensive. :D

I think what kills me is the whole "finding yourself", "deciding what you want to do", "pick a life direction", "which career do I want" crap...I mean..I'm sorry, but to me that is some wishy-washy BS right there. You find a job that can earn you a living wage and that interests you enough to not make you want to eat a bullet when you get home from work, and in your free time pursue education/training/whatever into figuring out what you want to do with your life or finding yourself. Stop being afraid and just go out and take charge of your own life.

Everyone has their little life story, so here's mine: Never went to college. Graduated high school a year early, moved into my own place at 17. Got a job as a junior programmer with a small software firm, left there to work for a regional ISP, now I work for a national ISP full time while working on my degree and coaching youth football. Thats it. Married, two kids, home owner.

Am I doing what I /want/ to do? No. I'd like to start my own business. I've always had a dream of opening a beer bar/gaming parlor. But I'm living my life and taking care of business while I work towards that dream. I didn't need put my life on hold to figure it out.

Link to comment
Share on other sites
zoony

zoony

Posted
Posted

I think what kills me is the whole "finding yourself", "deciding what you want to do", "pick a life direction", "which career do I want" crap...I mean..I'm sorry, but to me that is some wishy-washy BS right there.

I would agree 1000% with this (however college isn't bs :) ). But, to me, not as bad as "I was able to buy a sweet ass car living with my parents"

Link to comment
Share on other sites
TD_washingtonredskins

TD_washingtonredskins

Posted
Posted

I straddle the fence on this because I think there's a fine line between living at home and living off your parents. A very fine line. And, depending on who's telling the story, you never know what is actually happening. In the end though, it only really impacts the individual and his/her parents, so if those people are happy with the arrangement, who cares?

Personally, I graduated college and had a job right out of school. Since the job was within 15 minutes of my parents' house, I lived with them while a buddy and I started looking for apartments in Arlington. We dragged our feet a bit and I ended up living with my parents from May (right after graduation) until the following March...so 10 months.

In that time, I paid my parents a rent (not much, but something just so I didn't feel bad). I also paid for my own phone line and my cell phone. I didn't pay my share of the utilities or anything though. Also, every other week I would do the grocery shopping for them (and pay for the groceries). It was the least I could do since I had a home-cooked dinner any day I wanted it.

In the end, 10 months was MORE than enough time and I moved into an apartment in Arlington with a friend. It's been over 10 years now and I've lived in two rentals, owned two houses, gotten married, and had two kids. I think moving back in with my parents worked fine for me, though doing it at 22 was about all I could stand. My parents are fantastic, I just think it was stifling for 3 adults to live in the same household. They are very set in their ways and I was trying to find my way.

So, as I mentioned, if it's a temporary thing to get you on your feet and transition from school to the real world, I think it's fine and beneficial. If you're living with your parents and there is no end in sight...I think it's a little unhealthy, but to each his own.

One other note, to those coming in and defending their personal situations with excuses about the economy or baby boomers or house prices...that's another trait of people in their 20s that I see more and more. Nothing is on them, it's all circumstances. My brother-in-law is a senior in college and spent all summer NOT working. He interviewed for exactly zero jobs...just assumed the economy or the fact that he'd have to go back to school in 3-4 months would keep him from getting a job. In the end, the only thing keeping you from advancing or moving out or getting a job is yourself. Even if there are obstacles, you have to keep that mindset or it's too easy to just blame external factors.

Link to comment
Share on other sites
Spanky22

Spanky22

Posted
Posted
I think the lesson that we're all learning here is that college is overrated and entirely too expensive. :D

This.

We are sending too many kids to college. A regular undergrad degree (unless in engineering or something actually applicable to a job) is becoming almost completely worthless. In my parents generation, having a college degree meant something. Now that everyone has one, it doesnt anymore. At the same time, the price of college has skyrocketed. The question is at what point does it become no longer worth it to shell out enormous amounts of cash for a college degree? The ROI is horrible. Would you be better off taking that money and investing it?

I know it's not the most PC thing to say, but not everyone should go to college. I know people who can barely tie their shoes who have college degrees. Unfortunately, we have been told that everyone should go to college when really a good portion of people should be going to trade schools so that they have some actual skills to get a job.

I think that one the main issues that the current batch of twenty-somethings has is that, since they were children, they've been told that getting a college degree would mean that you would get a good job when you get out. Maybe at one point it meant that, but now it just means that you will have a ton of debt and, when the HR person looks at your resume, you dont get tossed in the 'no degree' pile.

Back to the original topic, in a time when every 20 something goes to college, lives off of mommy and daddy's dime with no responsibilities for 4-6 years into their mid 20s, comes home with tens of thousands of dollars in debt, and the job market is the worst that it has been since the Great Depression, of course people in their 20's are living at home. They cant afford not to.

/only lived at home during my last 2 years in college, while going to school full time and working a full time job. Had enough $$ to buy a house with my gf(now wife) when I was done. I just feel bad for kids coming out of college right now. Their job prospects are bleak.

Link to comment
Share on other sites
Rdskn4Lyf21

Rdskn4Lyf21

Posted
Posted
This.

We are sending too many kids to college. A regular undergrad degree (unless in engineering or something actually applicable to a job) is becoming almost completely worthless. In my parents generation, having a college degree meant something. Now that everyone has one, it doesnt anymore. At the same time, the price of college has skyrocketed. The question is at what point does it become no longer worth it to shell out enormous amounts of cash for a college degree? The ROI is horrible. Would you be better off taking that money and investing it?

A Bachelor's is seemingly this generation's high school diploma :(

For jobs in criminal justice, the average difference with a Master's is $17,000. That's why I'm going after it.

Link to comment
Share on other sites
Sticksboi05

Sticksboi05

Posted
Posted
I think the lesson that we're all learning here is that college is overrated and entirely too expensive. :D

Everyone has their little life story, so here's mine: Never went to college. Graduated high school a year early, moved into my own place at 17. Got a job as a junior programmer with a small software firm, left there to work for a regional ISP, now I work for a national ISP full time while working on my degree and coaching youth football. Thats it. Married, two kids, home owner.

Am I doing what I /want/ to do? No. I'd like to start my own business. I've always had a dream of opening a beer bar/gaming parlor. But I'm living my life and taking care of business while I work towards that dream. I didn't need put my life on hold to figure it out.

Everyone finds their way. But college isn't just about "finding yourself". It's about having fun before the real world.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...