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Move out parents home?

arisfinnerty

New Contributor
Feb 11, 2018
5
7
13
24
Italy
Hello guys,
I have been lurking on this forum for a few years.
I'm a proud fan of TF and Unscripted and have been trying to apply the concepts and the lifestyle proposed by DeMarco.

At the moment I'm facing a very difficult decision for someone of my age.
I'm 24 years old and do work or actually completely manage my family business.
Started working when I was just 19 and the growth my work and ideas produced was so strong that my father left me 100% of the managing work.

Right now I make X and invest 30% of my monthly income in my business and other stuff.
I don't need to invest much money to keep growing my business rather I need to be patient and keep investing my work and my time the right way.

I'm facing this choice: should I move out of my parent house? And tought that older and fast loaners than me could have given me the right advice. I think it's not easy to get this kind of advice from parents.
But grown up entrepreneurs can definitely help me.

At the moment I do keep 100% of my income and barely invest 30% and spend the other 20%.
While I do save almost 50% or more.
Sounds amazing doesn't it?

The problem is that I feel the urge to have some privacy, and follow my own rules.
I'm single and really and seriously want to live my life as a single man.
I also have many girls orbiting around me but in my situation where I spend 80% of my time working and then live with my parents it is impossibile to have any kind of easy or serious relationship.

Moving alone will mean spending 60% of my income to live, still investing around 30% and saving 10% or less.


What would you more experienced guys do in my situation?
Chase the freedom and better mental happiness while living 'check to check'.
Or waiting and keep investing/saving my money and live with less freedom but almost problems free?
 

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James Klymus

Bronze Contributor
I've Read UNSCRIPTED
Speedway Pass
Dec 28, 2018
83
176
145
24
Chicago, Illinois
Is it worth the extra money for you to have your own privacy and the extra freedom?

That has to be up to you. If being able to take girls back to your place is something that would be worth the extra money every month that you spend on rent, then go for it.

But if having the extra money that you can invest with is worth living with family for another few months/years, then do that.

Im also 24 and in a similar situation. I have that same urge to be on my own that you do.

I pay my family $450 a month, which is about what id pay to split a 2 bedroom apartment anyways. Since I already spend money on rent every month anyways, it's worth it if I find a good room mate. It wouldn't effect my ability to invest in my business since I already save ~ $1,200 a month from my job.

I also would add that if you think having rent will make you more stressed and less likely to pursue your business ventures, then just stay at home for a bit longer.
 

ecommercewolf

Contributor
Jan 8, 2019
103
91
118
Dallas, TX
As someone who's been in your situation before and a little bit older than you I feel inclined to speak on this. Obviously this is one man's opinion but I would continue to live at parent's house.. take advantage of FREE RENT.

As long as your relationship with your parents is great and they are not slowing down your progress. The best bet is to continue to live rent free and invest every dollar back into your business.

People underestimate what it really costs to live outside of their parent's roof once rent or a mortgage cuts into a good portion of your income.

Are you where you want to be in life? Getting more privacy would free more time up for dating but could also cut into your productivity and make you less motivated. As you mentioned, the lack of privacy in a sense is making you productive because you have no time for an easy or serious relationship.

Based on what you wrote it sounds like girls come easy for you. Let's say a couple times out of the month you want to see a girl and have that extra privacy... there's always other options for privacy like AirBNB or hotels if you really need it.. and that cost for a few nights ends up being less than rent for a month in your area I'm sure.

Just my two cents :thumbsup:
 

PinPointing

Contributor
FASTLANE INSIDER
Jan 10, 2014
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25
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I'd stay with your parents for another year or so. Give yourself a goal of what you want your income to be before you move out. I worked in the same town as my parents but felt like I had to move out because I was supposed to. I wish I'd stayed with them for another year or two and saved up a lot more money.

Just tell girls you're staying with your parents until you find a place or until the place you want opens up. You can always hang out at their place.
 

Suzanne Bazemore

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I'd personally stay with your parents, because @ecommercewolf is right, living expenses are always greater than you expect them to be, and you can hang out at their place, like @PinPointing suggested.

If you want to move out on your own, do what @foodiepersecond suggested, and get a place cheap, then use it as an investment by renting to other roommates or get a duplex and rent out the other side. That would be a great investment, too. There are some threads on here about rent hacking.
 

ecommercewolf

Contributor
Jan 8, 2019
103
91
118
Dallas, TX
Let me also add that context matters. I would have stayed with my parents a little bit longer but I also wanted to move to a new city away from my hometown and the living environment at home was not the best for me to grow as a person.

In your situation, I'm going to assume that your relationship with your parents is at least solid... otherwise you would still not be working in your family's business. So yeah, in this case definitely stay for a little while longer.
 

Hazelnut

New Contributor
Sep 3, 2019
9
1
11
Your outgoings after moving out seem like so much that it doesn't sound worth it. Save and build your business until you're saving the same percentage of your income as you would living at home.
 

inputchip

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Mar 26, 2017
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At the moment I'm facing a very difficult decision for someone of my age.
I'm 24 years old and do work or actually completely manage my family business.
should I move out of my parent house?
Yes
fast loaners
Lol
But grown up entrepreneurs can definitely help me.
At 24 you are a grown-a$$ man who needs to take responsibility for your own life. If you aren't happy in your current situation, figure out how to get out of it. House hack, find friends to rent with, find cheap rent. Figure out how to grow your business and take action.

The fact that you are even asking this question means that you should unquestionably move out.

I would rather live with 4 friends, sleep on the floor, and eat ramen to get by before even considering living with my parents. You need privacy, and you need to learn to be independent.
 

James Klymus

Bronze Contributor
I've Read UNSCRIPTED
Speedway Pass
Dec 28, 2018
83
176
145
24
Chicago, Illinois
There are some threads on here about rent hacking.
This is a good one if you want to have extremely cheap/no rent:
 

Kevin88660

Bronze Contributor
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
562
492
224
Singapore
Hello guys,
I have been lurking on this forum for a few years.
I'm a proud fan of TF and Unscripted and have been trying to apply the concepts and the lifestyle proposed by DeMarco.

At the moment I'm facing a very difficult decision for someone of my age.
I'm 24 years old and do work or actually completely manage my family business.
Started working when I was just 19 and the growth my work and ideas produced was so strong that my father left me 100% of the managing work.

Right now I make X and invest 30% of my monthly income in my business and other stuff.
I don't need to invest much money to keep growing my business rather I need to be patient and keep investing my work and my time the right way.

I'm facing this choice: should I move out of my parent house? And tought that older and fast loaners than me could have given me the right advice. I think it's not easy to get this kind of advice from parents.
But grown up entrepreneurs can definitely help me.

At the moment I do keep 100% of my income and barely invest 30% and spend the other 20%.
While I do save almost 50% or more.
Sounds amazing doesn't it?

The problem is that I feel the urge to have some privacy, and follow my own rules.
I'm single and really and seriously want to live my life as a single man.
I also have many girls orbiting around me but in my situation where I spend 80% of my time working and then live with my parents it is impossibile to have any kind of easy or serious relationship.

Moving alone will mean spending 60% of my income to live, still investing around 30% and saving 10% or less.


What would you more experienced guys do in my situation?
Chase the freedom and better mental happiness while living 'check to check'.
Or waiting and keep investing/saving my money and live with less freedom but almost problems free?
Well done for the saving part!

As long as you do not intend to cohabit with a gf I don’t see the need to have your own living space. Squeezing with a few strangers/friends is much worst and a complete apartment for yourself should be too expensive now.

Having more cash to burn surely make your dating life much easier.

Bte what business do you do?
 

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OP
OP
A

arisfinnerty

New Contributor
Feb 11, 2018
5
7
13
24
Italy
But what business do you do?
I don't want to talk too much about my business, let's say I'm an artist and sell my works at a very high price.
Plus I'm building a very solid and strong brand and also personal brand as an international influencer/artist.

I forgot to say that I found a very cheap apparment ( no roommates) :
400€/month ( market price is probably 600€).
And that I have enough savings to pay this rent for almost 9 years without working.

So as far as living alone won't impact my monthly investment funds or saving, I'm wondering if the freedom is worth all the responsibility it takes.
 

Kevin88660

Bronze Contributor
I've Read UNSCRIPTED
Speedway Pass
Feb 8, 2019
562
492
224
Singapore
I don't want to talk too much about my business, let's say I'm an artist and sell my works at a very high price.
Plus I'm building a very solid and strong brand and also personal brand as an international influencer/artist.

I forgot to say that I found a very cheap apparment ( no roommates) :
400€/month ( market price is probably 600€).
And that I have enough savings to pay this rent for almost 9 years without working.

So as far as living alone won't impact my monthly investment funds or saving, I'm wondering if the freedom is worth all the responsibility it takes.
If it is so cheap why not try to live alone?

Are you happy with the location?
 
OP
OP
A

arisfinnerty

New Contributor
Feb 11, 2018
5
7
13
24
Italy
If it is so cheap why not try to live alone?

Are you happy with the location?
It's not as good as what I could afford but price/quality is 10/10. And in the center of my city ( big city).

And I don't have to spend 1 single euro to move in.
No upfront payment, no minimum contract.

Just need to move my stuff.
 

MattR82

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
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Oct 4, 2015
617
903
350
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Perth
Move out and become independent. Sounds like you can more than afford it.
 

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