[jbergmann1]

I may be lame for living at home, but for others that have recently moved out of their parents home, when did you know it was time? I’ve been working for 3 years at a small CPA firm. I have been able to save close to 70k but half is in retirement accounts. I’m just worried I won’t be able to save as much which IMO is lamer than living at home.

Any thoughts?

Passed all 4 parts of the CPA exam!
License application in progress

[CPAcandidate3]

When you have a steady big boy job it's time to move out.

[Anonymous]

I don't think it's lame at all if it works for you and your family. There are multiple other cultures throughout the world where it's the norm for families to live together their entire lives. Just because our culture says we're supposed to move out after college and take care of ourselves all on our own doesn't make you lame for going against the grain.

That being said, my opinion may be biased because I'm married and living with my husband's parents. I make a decent salary but my husband is in PA school full time. Trying to spread my salary for two people would make things pretty tight if we don't want to live in the ghetto. More than that, living with his parents give us the opportunity to study and focus on our goals we want to accomplish before we take on the full force of life's responsibilities. Maybe that makes us lame to some, but I'm pretty sure we'll look back 5 years from now realizing that a couple years of living with his parents allowed us to accomplish our goals much quicker with much less stress and financially put us in a really great position. Not to mention his parents are pretty cool, too 🙂

I say all that just to let you know that when you decide to take that step is between you and your parents. I don't think it's right to be a mooch your whole life, but if you have some goals you want to accomplish or want to save a little more, go for it! I doubt you'll look back and think it was stupid for make yourself more financially secure.

[Jdn9201]

I moved out when I got my first job after college, but that was at 24 (changed majors 3 times). Everyone's situation is different – I think it depends on what your situation is, and what your reasons are for continuing to live at home. It sounds like to me your reasons are good ones – to save more and put yourself on better footing for when you do move out. I think our generation gets a bad rap for staying at home into adulthood, but a lot of people don't realize how high the cost of living is now. Depending on where you live, 50k isn't even enough anymore for one person in a decent part of town. In my situation, my job I took was out of state so I had to move. I was also too close to my family and knew I needed to move away to branch out and be on my own. I think you'll know when the time is right. Until then, as long as it works for you and your family then that's all that matters.

BEC - 88 8/29/15
REG - 82 11/14/15
AUD - 83 1/8/16
FAR - 80 2/29/16

[Skynet]

When I wake up in the morning next to some unknown woman. The only thing i remember is that she is a Big 4 partner and that i am in her apartment. So i just quietly grab my clothes get dress and sneak out.

[Namstut]

It depends on how you REALLY feel about it and how your parents feel about it. My older son moved out right after high school, first to live on campus and then into his own apartment. I would much rather have him at home, first of all for a selfish reason because he is my kid, second, because he would be able to put aside some money rather than running his own household.

AUD 7/6/16 Passed
BEC 9/3/16
FAR TBD
REG TBD

[jeff]

Living at home for a “season” makes sense. I lived at home after graduating while my then-fiance (now wife of 14 years) finished school…but that was for 9 mo. If there are definite reasons (not wanting to live in ghetto while husband finishes PA school) or objectives (working crazy and paying of student loan debt), then it makes sense.

If it's just “because” … it's time to leave the nest.

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[bigcore20]

People have different situations. I definitely disagree with what people like cpacandidate3 do though, people that passively suggest that you should move out right after you get a job, as if it's their business or something. That should be your own choice.

There's 3 types of people who move out:

1) Those who move out because they genuinely want their own space

2) Those who move out because they think they have to because of “society's expectations”

3) Those who move out because they have no other option

People in category 2 or 3 are generally the type who tell other people they should move out because they're either jealous you are saving loads of cash (3), or they want to feel validated because they're somehow better than you for moving out earlier (2).

I consistently hear people say they wish they lived a few years with their parents so they could have saved up money so they don't have to live below their means forever. It's tough these days to save up enough money for a good house, etc. There's people who are stuck in crappy apartments for 20 years before they can finally get a damn house. Nothing lame about being close with your family while simultaneously saving up tons of money.

[CPAcandidate3]

@bigcore20

His main reason not moving out was worrying about not being able to save as much. It's always going to be cheaper living at home and unless you have some sort of short term financial object you want to complete that's not really a good reason to be staying at home.

[Jay]

OP I'm with you man. I got around that much saved up too all liquid though. I know that in NYC, if I want a place on my own that's decent in a good area, I'd be spending 1700 – 1900 a month. I don't make enough to live on my own yet but once I'm a CPA.. salary negotiations for a big raise which is past due. I just want my own space. Hopefully we both get what we want soon. I went part time to study and I'm hoping to pass these exams FAST. Here's to 2017!

REG 82 (08/08/15)

[thebigguy1992]

I'm 24 years old, just graduated in may with my masters, working at a big 4 in a high cost of living area, and I plan to live at home until at least this September. I have no student loans but I have been saving so much money it's great. I also am not going out at all on weekends until I finish these tests, so it's not like I'm missing out much on weekends since I'm studying st home anyways. Once I pass these tests, it seems like it is time for me to move out and get on with my life. Until then, just saving money and studying.

If this adds any perspective, there's a second year associate that I worked with and he is still living at home. I am not sure of the exact reason why, but he seems to be moving out in less than a year.

[SiNGjAi]

I'm 23 and moved out in June after I graduated college – reason was because the firm was too far away from my parent's house (about 2-3 hours round trip per day with traffic). That said, I live in SD and saved basically nothing working for one of the mid-tier firms. Good news is that the firm will be moving to a new office a little closer to my parent's so I can move back for around 6 months to save up some cash. Planning on moving out permanently after that because I do enjoy the personal space. I've also had an awkward relationship with my parents and moving out somewhat made us a bit closer.

[Trele6]

I moved out at 17, I'm a very independent type so it didn't bother me.

Less awkward to walk around the house naked also when you live on your own.

First go at the CPA! Only using Becker
Reg / Nov 2015 - 87
Far / Apr 2016 - 79
Bec / May 2016 - 80
Aud / Aug 2016

[Missy]

“as if it’s their business or something. That should be your own choice.”

Well the OP did ASK for opinions so there's that……..

There will always be reasons to stay and reasons to go. Personally when I was leaving my parents house (probably before you were even born) it was about needing my independance and privacy. Now 30 years later I have a 24 year old who works full time and lives at home. Problem is he has to live by my rules home by midnight, clean your room, yadda yadda. If he ever is averse to my rules he's welcome to stop living by them, but at another address.

But don't stay just for the sake of convenience, thats just not good enough. If you have a plan “when I have xxx I will purchase a condo” thats fine but make a plan.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[JMG]

Oddly enough, I didn't really start saving money until after I moved out of my parents. Once I got hit with real world expenses like rent then mortgage, taxes, and other bills, that's when I really learned the value of money.

I think the “saving money” reason is the nice, idealistic way of looking at it, but in reality it's taking advantage of a convenient situation.

[Scared-cpa]

I agree with most people on here that circumstances will dictate whether you should or should not be living at home. If you're living at home “just because” then you should probably move out. If you're living at home to take on necessary responsibilities (older parents for example) or you simply cannot afford to live on your own, then that is a different story. But even within the latter group, there are two subsections. One subsection consists of those who are comfortable staying home and enjoys the ability to float by with mommy and daddy's help. The other subsection consists of those that have a plan to move out.

I'll go ahead and give my personal situation. I am 23 years old, graduated with my bachelor's in accounting summer 2016 and am in graduate school to get my MBA. I'm obviously studying for the CPA exam, as well. I have always lived at home. College was close enough that I could live home which saved a lot of money. I was lucky enough to have savings to put me through all of school so I will keep from having any debt when I move out. Living at home spared me unnecessary expenses of rent, food, etc. Now the situation is a little different. My father has severe dementia with Lewy bodies and is in the last stage of Parkinson's disease. He cannot walk at all and has to be taken care of like you would a one-year-old. My mom has to work so I take care of him during the day while taking online courses and studying for this exam. If I wasn't living at home, my mom would have to hire someone to come in and take care of my dad while she works – and this is very expensive. So until I graduate with my MBA in July 2017, I will be living at home. But once I get a job I will be moving. In my situation, I don't feel like I am taking advantage of my parents or feel embarrassed to stay home. I'm glad I've been able to get through graduate school and have zero student debt whatsoever. If I had moved out, it would not have been the same situation. Some people may rather go out and work and have debt because they enjoy more independence, and that's fine too.

I think the biggest thing in if it is appropriate to live at home. (1) Is it necessary? (2) Do you have a plan to move out? and (3) Are you mooching? I think you can answer those questions yourself and decide whether or not it is okay to still be at home.

[Author]

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