Going back to live with parents

[jhonny9546]

Hi there guys! Johnny's here!

I have an update. I'm going back to live within my parents property.

I've been elsewhere, renting 2+ years now, but I've never had the possibility to grow my Net Worth. That money is lost.
I'm going back folks, renovate a small space, stay there for 5 years, build my net worth to a precise value, then, with that money, I'm going to buy a big house and split by 3, so I can pay mortgage, rent, and earn a small income on top.

That only requires 5 years of my life of what I'm currently doing, but instead of staying rent, I'm going to get the possibility to do so, so I need to take advantage of that. In 5 years, I could also start to work less and find a better job, but for now: I'm fully focused on stacking money folks.

I know people will laugh and make fun at me. But I've been out there and realized that you can't live a rented life.
You need to own your place, and I'd rather make a 5 year sacrifice, than live a life paycheck to paycheck.

What is your situation?

 

[UK manc]

I bought a house with cash in my 30s. This in the UK where people complain about house prices, and wages can be a joke for many.

Is the career going nowhere?

 

[Arete]

I know people will laugh and make fun at me. But I've been out there and realized that you can't live a rented life.
You need to own your place, and I'd rather make a 5 year sacrifice, than live a life paycheck to paycheck.

Do whatever gets you to your end goal fastest.

I'm still saving up for the house. I might be able to do it before I'm 30 if things go well. As long as I don't have to compromise my personal morals, I will do pretty much everything. I'm working a physical labor job. People are often looking down on me, yet I'm doing alright financially.

Never even did buy a car that was more than 1000 euro ... or buy anything else I didn't really need. The best way to make money is to stop wasting it and be efficient.

What I did spent a lot on is nutrition. Only the highest quality and lots of meat and fish, low-carb. Everyone laughs at me because of this, but it doesn't phase me at all, and I'm not just saying this.

Rather, I feel sympathetic. Spending all money on materialism while getting health issues before 40 and dying at 80 years old is just sad.

You are from Italy, so you probably know food quality is important. Especially if you're playing the long game (5 years). Plan to live a long life.

 

[plumber]

is your family compound large enough to just make a permanent house there. eventually they will need help.... your family can be infinitely stronger together than apart. don't forget to stack the cash and invest it as you go. many do what you are telling but then just spend the money on immediate smv display. after work can you fit in a night class towards some additional education goal.... its a way to use time that would otherwise be used for spending.... make sure to keep the gym schedule on. you just described a strong plan to make improvements.

 

[BaronOfHair]

@jhonny9546 "I know people will laugh and make fun at me. But I've been out there and realized that you can't live a rented life"

We're all living a "rented" existence, in some form or fashion. We ultimately choose the circumstances of that existence. My understanding of Italian culture is that "multi-gen" homes have always been a more frequent occurrence than is the case throughout The Anglosphere, so if this is an arrangement you find suitable, go ahead

I also must wonder, J:

Was your motivation for posing such a question("What is your situation?")driven, at least partially, by doubts you're having over making such a decision? Are you, on some level anyway, seeking the approval of others for a move you believe may not be entirely wise?