In 1950 there was a draft for the Korean War. Young men who served got out, got married and were able to buy a starter home with no money down on the GI Bill. Serving in the military is a great way to pay for college, buy a house and learn to be responsible. Not everybody needs to get a BA and get buried in student loan debt, there are other options.
then why did ur generation decide to tell your children that that was the only option to have a succesful life? absolutely hypocritical @@lisamarielund6292
Yeah, in the 1930's Your Parents went through the Great Depression and they made it through the worst economic time in the country's history. Find another excuse and "get up off your butt and move out of your Mommy's basement" It is incredibly hard to find a good reason for people to say your not LAZY😎
@@RoddieSimmons yea my parents aren’t that old dumbass. Use an inflation calculator and educate yourself. However I did go through college on a full ride and have a very succesful career, but for a lot of my peers life ain’t so damn easy. Rent is like 2k a month where I live. That’s more than half of the avg US household income just on rent
@@RoddieSimmonsThe only people who even remember the Great Depression are in their 90's. Most of our parents are either war babies or baby boomers who lived through the 50s-early 70s when the economy was in the best shape in human history. Not saying that there aren't ways to improve your situation or be more frugal (you can literally just live off of rice and beans if you need to) but it is objectively a tougher situation now
I lived at home throughout my 20's. Paid off all my loans, earned a master's degree, took three backpacking trips to 15 different countries, worked full-time through all of it (minus the vacations). In nearly every other country I've been to, it's normal for people to live at home well into adulthood. Family is celebrated and it's not considered "your parents' home." It's considered "the family home." Point being: don't let Dave or anyone else tell you what you should do or where you should be. Everyone's life is his/her own. I've accomplished more in my 20's by living at home than I would have if I had 3 roommates and lived paycheck to paycheck.
This in other cultures its very normal to make sure your kids are stable before you give them the boot. Only in america do parents consider 18 as some signal to kick your kids to the curb. i moved out at 18 and could have probably spent at least 2 more years at home and less mistakes because of it
So you mooched off your parents. I dont even need to know you to know youre a Narcissist. Disgusting. For your whole information people do that because theyre poor.
Dave says to be financially secure you need to "be weird." On the other hand, he thinks it's weird that young people are living at home to reach financial security and he condemns them for it.
@@Endeavour255 I agree with you but Dave has no wiggle room on this. He thinks you’re a loser if you don’t move out as soon as possible. He’d rather you grow up paying rent on your own than “mooching off of your parents like a second class citizen”
My grandparents were not well off yet they sent my mother to a state university. She worked summers but not while in school. At graduation the debt was under $1,000 and they paid it off by the end the year in 1972. I hate the government so much for screwing it up in the name of helping poor people.
Smart. Budget, pay off debt and save. If you move out, you will live check to check and NEVER save nor get out of debt. Sorry Dave, there are exceptions!
5:47 I love how Dave brags about how his kids barely had to live at home after college. Wonder if that has anything to do with the fact that they came from a financially literate home with a $55 million networth and were offered lucrative job opportunities at their father's massively successful business? I don't doubt for a second that they're bright and hardworking, but so are a significant amount of milennials living at home. College prices, rent, mortgages, insurance, etc. have all skyrocketed in price since Dave was in his 20s and they have exceeded normal inflation. At the same time, wages have stagnated and since 1984 the purchasing power of the federal minimum wage has decreased. This is all publically available, non-disputed information. Meanwhile Dave doesn't want you to take out student loans, go into debt for any reason, build credit, or live with a significant other until you're married, but he'll mock you and your parents if you dare live together past the age of 25. Dave, don't you think any one of these factors has a bigger impact on the % of millenials living at home rather than it's just the majority of an entire generation that's lazier than every previous generation? -- Sincerely a debt free millenial with a STEM degree, who is investing towards my retirement and still living with my parents at age 24.
@@draintheswampnews3656 I'm not mad at all, I just think Dave is incredibly wrong here. You're willfully ignorant if you ignore all the facts I posted and your only claim is "there is an arrested development issue in the US" with 0 data to show for it.
I agree with you 100%. The system has it made so that everyone thinks that college is the only way. Student taking out loans and being on debt seems like the only way to have a future for many people. Staying at home with parents is a way to help ease that debt. Before the 80s people had it easy. You could get a job at McDonald's and still be able to live on your own. Now you need at least $100k annual income to do this in California.
The "shoe" fits for some people but not all. I know people where this fits and I know other's where they truly need to grow up and be 100% independent. If you have a financial plan you're working towards than great but at some point you need to be on your own. I'm not saying "you" personally bc I don't know you. Just talking about the ppl I know that use their parents as a crutch.
This is the problem with baby boomers. They're the most entitled generation of all time. They had affordable housing, great entry level jobs, affordable health care, ect. We have a stagnant minimum wage that isnt even close to matching inflation, very few good entry level jobs, a housing crisis, college that will put you in debt for the rest of your life, god awful health care, and the list just goes on. But the baby boomers think "oh we worked so hard. Young people today are just lazy and dont want to work. I bought my house for 32,000 on a single, part time income while going to school. Why cant these millennials just leave the house at 18 with no money, no job, no college education and get a great job/buy a house like I did? ". News flash, this country isnt the great land of opportunity that it used to be. My parents house, and general housing where I live has increased in value over well over 100% just in the last 20 years. Buying is out of the question for most people, and rent is more expensive than owning. So yea sorry Dave, on a single income, unless you live in the boonies, its near impossible for most people to afford to live on their own.
SouthernFried87 the military isnt for everyone though. What that guy just said is true. Back in the days, you go to collage and pay off a house with a part time job. Inflation is out running every one paychecks. I get it. You are young and you are living on your own and the military hooked you up. That's awesome, but don't look down on people that's less fortunate than u. I'm 26 years old and I'm a home owner and I have 2 cars thats paid off upfront and I own a business. I took advantage and a risk and it worked in my favor. But won't go around and tell people "that sounds like a personal problem. Maybe u should start a business like i did" not a lot of people have the money or opportunity to do that. Same with the military. Not everyone is cut out for it
It's not a personal problem for me. I'm 24 and I did a 4 year apprenticeship in a shipyard at 18 only 3 months after graduating high school. Depending on overtime, I make around 60-70k a year now, and have saved close to 80,000 not including TSP savings. Its not something I like to do, or what I wanted to do, but because of the area that I live and the very real issues about this country that I stated earlier, its what i had to do to set myself up for a decent life. The military is a good option for a lot of people, but to me personally, that service agreement is a waist of life. Regardless of my personal beliefs/situation, I'm speaking for the average millennial that doesn't have options like I did. The jobs and opportunities just aren't out there like they used to be.
America is the land of opportunity if you're someone like Dave Ramsey. White. Male. Middle aged. Rich. That's the sad reality of it. Why do you think the political system is the way it is?
@@10dtrupe I don't believe this person is lazy my father works for the military he told me I can stay home as long as i need until I move out again or he'll help me join the military dave kinda forgets he does hold his kids hand I just finished college an joining the military kinda wish my dad was rich so I could just work for him
Someone obviously didn't get the point of the video... Everyone has a unique situation, but 1/3 is quite a few people, and shows that parents are enabling there child's poor behavior.
Dave doesn't your kids work for you and your paying them a high salary. Have them look outside your company, good paying jobs are not easy to come by these days even with a degree and student loan debt.
His kids got college paid for and huge financial gift upon graduation. But the most important thing he gave them was a financial strategy. I feel like my kids did not have the same experience. I blame myself. I did not follow a financial plan until recently. I was always afraid of debt and stayed away. Married and had no plan for my kids. Right now thanks to my husband and myself, they have huge student debt. The apple doesn't fall far from the tree, and my kids also stay away from debt. But I do wish I had saved to pay for their college. We failed them in that department. And sure, they are living at home til they get out of debt and save to buy something. Reality is, most families live check to check.
I lived at home till I was 29. Just turned 30. My parents did not support me financially. I had to pay rent to my mom who's house was already paid off, bought my own groceries, paid my phone bill, car insurance, etc. Living at home helped me save money for school and buying a home. Paid off my school loans. I have no debt whatsoever. Best decision to stay at home. My mom didn't want to see her kids struggle. Nothing taboo about that!
nicole smith You indicated your parents did not support you financially because you paid rent, among other things, while living at home. Later you said you saved a lot of money because you lived at home. This is contradictory. If you saved more money by living at home, that means they helped you financially, whether it was lower than fair market value rent or by other means. I'm not against living at home, I'm just pointing out you are lying to yourself if you say you were not helped out financially.
@Joe ...why are you so nit picky? ..She meant she paid a "small rent" ... let's say 200-400 bucks per month as opposed to 700-1000 per month... she pocketed the rest Einstein.
I don't think any person wants to live with his parents. i think this is a false narrative(pushed by clueless boomers) to explain why millennials still live with their parents. even neets who live with their parents into their 30s want to live independently but can't due to some mental illness or social anxiety disorder. they don't have the social skills to get a job
My parents “encouraged” me to move out when I finished high school. I was 17. I spent the next 10 years battling through uni, accumulating debt and basically being miserable. On the one hand, I’m glad to have been raised to be independent, but on the other I wasted my twenties. I don’t think I’ll be making the same choices with my own children.
I think you made the right decision the trend is now going from 1/3 to 1/2 in just two years living with their parents I think you made the best decision to be independent
Totally relate! I'm not doing that to my kids either. Don't get me wrong though, they are getting part time jobs and chipping into family affairs as an adult as soon as they reach 20. But I'm not sending them out there to accumulate debt and work a million jobs to pay for rent while I still have a house!
My Profile . At that age, everyone takes advantage of your naivety, especially your employer and landlord . Learning life lessons that way can lead to irreversible mistakes. You associate yourself with a network of people to survive, it almost always leads to you taking the long road in life. Hard to explain.
I concur at 18 i already had 7 credit cards. 10,000 dollars in credit card debt. A car loan of 3900. My credit was in the 500's. The car i bought was acting a fool. Electricity got shut off. I almost got evicted and so much more. I promise u i picked up the phone and moved back home. I wasn't ready for the real world!
Wrong, there's quite many of them, not the majority, but really not tiny tiny percentage. There are also cases where the parents are sick or not doing too well and the young adult is the main thing keeping the household running, I've seen it before. This is with people living in US and UK, I lived out on my own when I was around 18, but I could've done it when I was 16. My country helps with that as it realizes how important the step is for some people's growth. It however doesn't mean the people who are being productive, helping their families or working to pay away debt rather than getting into more debt should be disregarded as a tiny minority. That just promotes the false image that millenials are generally just lazy, which they really aren't, not anymore than previous generations.
@@thekristencreecy I agree with you if that’s the case. If they are unemployed and living with their parents this is a problem. But most are just trying to scrape some cash together, save a few bucks. I agree though as well there are a bunch of lazy people and if I was bottom feeding off my parents they would get rid of me on their own hahaha
My parents let my wife, daughter and I stay with them for 2 years while we finished school, paid off student loan debt and saved for a down payment on our house. I'm 27 and debt free because of it. And our relationship with my parents has never been better. It really just depends on the situation.
So you are debt free and that’s great, but are her parents debt free? Or did they fund your debt at their expense? In order for someone to be debt free someone else had to absorb their debt.
@@johnd3982 What you said doesn't make sense. Them getting out of debt doesn't somehow put the parents in debt just because they lived together especially if they helped cover utilities and whatnot.
I love being lectured by boomers about living with parents when college adjusted for inflation was like 1/3rd what it is today and the minimum wage adjusted for inflation was like $12
Get a roommate, because it helps with the rent. Eat at home as much as you can, it's cheaper than going out Supplement your income with either a second part-time job, summer jobs, or temp jobs every now and then. It's more work and it is hard, but you have to remember who is responsible for your own life. Cut luxury things out of the budget. Starbucks is a luxury. If you still live at home because doing any of these things is too hard for you to fathom than you need some lecturing regardless of what minimum wage is now or what it was when the person lecturing you was young God Bless!
No it was not. My mom worked at a Wendy's in the mid to late 70's (when she was in college) she told me she made $1.75/hr. She would not have been able to afford her own place. Minimum wage doesn't mean liveable wage.
So you don't think young people should live with their parents after 25, and you don't think they should live with a significant other before they're married. But you also think people need to live below their means enough to pay off debts like student loans. He really doesn't seem to understand the financial realities of young people these days
Carolyn B. I live rent free with my grandparents, its helped me save a lot! Though I do pay my own car insurance, and phone and gas. But the rent free helps me out more, of course everyone’s opinions and things differ some. But if I can save a 100+k in the next few years. Its all because of them. And then I can move out once I am stable! Having people who help support you is a literal life saver. Dont people understand this? This is how you help your kids have successful lives. Not throwing them into the street at 18, with no guidance. Dont listen to that other person! You do you!
Here does that's why he has his business and what is all based on. Helping folks out even if it hurts their feelings. Have you been paying attention at all
Oh no he understands perfectly. The best thing to do in order to save up for a year or two/decrease loans is rent a spot with a roommate. I'm sure A LOT of people are highly allergic to that idea since they means they can't pocket all their $, eat up all their families food, have their mamma wash their drawers, & drive a fly ride, lol. Sharing with someone will mean paying some utilities/rent but at least you're on your own and saving some $, and have a splash of dignity.
I like how he instantly correlates the entire 1/3 of the people pulled out from the data with being a bunch of lazy bums. Such an old guy way to think lol
have you? Wages and inflation slowly climbed up together until wages started to stagnant but inflation stayed climbing. If wages never went stagnant we would be up to 20-25 an hour minimum wage
Stagnant since the 80s? Everyone I know gets a raise every year and I don’t know anyone who is stuck making the same salary they did in the 80s. Whoever you’re talking about must not be very good at their job, because if they were, they would’ve gotten several raises and promotions since the 80s.
I lived with my parents at 26. Now I'm 28, living in the best luxury apartment in town making $90,000 a year. If I was tossed out onto my own earlier, I wouldn't be here. Bad video by Dave.
Right. You needed that time to budget, pay off debt and save. I agree 100%. Dave doesn't realize the difference is he saved for his kids college and even wedding expenses. That was a huge help! No debt and high paying career, OF COURSE his kids were on their own after college!
@@chantalreneehayles7976 Having a roommate for example, or sharing with a grown cousin, would allow an adult to live at a "fairly reduced living cost". Nothing is free in life. I totally get that some people are fine with having their grown kids at home, and vice versa. It's a preference but there is not really a true sense of Independence of being an adult (bills, food etc) when you live up under your parents. There's always this safety net which isn't a real world situation when you live at home lol.
The old man made a lot of assumptions in this video. Just because some kids are living at home doesn’t mean they aren’t working and their mom is doing their laundry.
Facts. The only job that I could manage to find, even with a degree and a high GPA, was with a political action committee. This job requires sitting out in the cold, heat, and rain gathering petitions and helping people register to vote. It pays $15/hr (a little less than $1800 per month), but when you account for health insurance (my premiums tripled), doctor copays, car insurance, car payment, car maintenance and other incidentals student loan payment, cell phone bill, gas, food, very, very little is left for rent money to live in a safe neighborhood. I live with my parents, but that does not mean that I am not willing to work hard, acquire new skills (I have), and cook and clean for myself. For Dave's information, I, in fact, do my own laundry, buy my own groceries, cook my own food, clean my own living space in the house, and help take care of my ailing grandmother who lives with us. So I don't appreciate the wide assumptions that Dave is making about all adults who are living with their parents because they are "lazy." Sometimes economics contributes to this issue.
Not true. My brother works full time, takes college classes at night, pay cash for all of the stuff they own, lives in an apartment he pays for, and can still manage a (sometimes small) social life. I'm also in a similar situation as him. The problem is the millennials who expect the world to give them everything. It's definitely possible folks.. You just have to be different.
Oh please. Stop using your own children who are employed by their multimillionaire father as an example for the rest of us. They also didn’t have to go into debt for college. Give me a break Dave,
Benefits of living at home: Paying my way through college (Almost done & debt free) . Bought a used car and paid it off in 2yrs instead of 5yrs. I pay rent to my parent and all my own bills. Saved 11K for when I move out . You can still learn responsibility by staying at home a little longer , done be fooled . I’m 25. Times have changed according to “my parents”.
As an Asian, I am glad to hear that you helped out your parent financially when you stayed with them. We, Asians, have no issues living with our parents as adults with jobs since we are not freeloaders and take care of our aging parents which are expected of us. Dave's rant and many comments here make it look like all Americans are lazy bums/freeloaders if they still live with their parents. There is always the middle ground and not an either/or.
In a LOT of countries this is customary. Down the street from us lives an immigrant family from Russia. They live with 4 generations in their household and enlarged the home they bought to accommodate them. It wasn't long before they built an enormous working garage on their property too. Like many Russian immigrants in our area, they work in the automotive field. All working individuals in that household work the family business of repairing and flipping vehicles. They are now millionaires and it didn't take them long. What happens too often with Americans and their boomerang kids though, is definitely not this scenario.
Agreed. Im filipino and my parents want me to live with them even if im employed. And personally i dont want to, cause i was frequently deppressed and frustrated around them growing up. Not that theyre horrible parents.
Yes, this is so true. We Asians are family oriented and we help each other. Kids usually move back into their family homes after graduating from college, they work and contribute to the family household expenses and save their money. They usually move out when they get married and usually are able to purchase a home to start their married life with the money they saved living at home.
@@riverdaletales8457 Yeah i have never understood why they do that !!! When you are 18 and graduate from high school it is time to move out and go to college or get a job !!
He’s living in the past..now it’s all about greedy! Ppl want money money money!! Can’t live on minimum wage and pay for college..skool cost millions now! After skool u will be in debt! No life there!
Yep. Aian kids stay home until they get married after 30, and have $100k saved up. Their parents want them and make them to ensure better quality of life.
I'm 26. I buy my own food for my mini fridge. Pay my own phone bill, car insurance, gas. I pay gas, electric and water utilities, i do my own laundry and go to school while working 40 hours a week. All while living at my parents house.
ahastar, that "extra step" costs waaaaaaay more than your calculated 10%. You've heard what Dave says someone should pay for housing INCLUDING utilities; I think it's no more than 20-25% of your net pay. How many 26 y/o's, or even 36 y/o's, make enough income to do that? Have you checked rental prices???
Couple questions mustang, since it's so easy to do: How big is your mortgage and how many years? How much do you owe on your car? What kind of work do you do and how much is your annual income? Do you have student loans, and how much do you pay per month for that? Do you pay the recommended 25% for housing PLUS utilities? How much do you put away each month for retirement? How much are your monthly health insurance premiums, and what's your annual OOP max, including deductible? How much do you have in your emergency fund? Do you have 3-6 months of expenses squirreled away? Or are you living paycheck to paycheck, barely able to make ends meet, couldn't come up with your multi-thousand dollar healthcare deductible (EVERY year), have nothing saved, cross your fingers, and hope you don't lose your job bc you know you're one paycheck away from losing your home. And did/do your parents pay for any of this, and did you inherit anything, incl money? Are you living with anyone else who helps pay the bills? That's all for starters, 32.
Nobody said you have to rent an entire apartment. Rent a room even. I pay about 15% of my income while saving up for a down payment. It's not too much money, and I get to be who I want to be. I don't have to be the golden child my parent's expect of me. Being independent is quite a nice change. Oh, I'm 22...
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Fatihu-nq However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
More than 50% of Americas make less than $30k a year. It's hard to live on your own when companies don't pay livable wage. Dave Ramsay is always out of touch on these subjects.
Now, I do agree that living with roommates, and working multiple jobs DOES allow you to live without the support of your parents. But guess what? That doesn't mean you're living totally independent. Did you get that word I said...roommates? Yeah, if you have roommates, you're still not independent. But that doesn't mean you're immature either.
Not the companies' objective to pay you a livable wage. It's the companies' objective to pay you for your SKILL-SET and PRODUCTIVITY. If you have a problem with the housing market, you need to blame the landlords, bankers, and politicians who inflate the cost of living, your employer has nothing to do with that.
Don't think there is a problem living with your parents if you are paying your own bills. In some cultures young adults live with their parents until they are married but they still contribute to the household weather it be chores or financial.
"Not doing them a favour", you're helping them build wealth/get out of student loan debt assuming they are working. In this economy not leaving your parent's home isn't necessarily a sign that you're a "turkey" but rather a sign that housing costs are out of control
The favour you're doing them is called thousands of dollars that neither of you had to work for, assuming the child is saving everything they can and investing it so early on in their life.
@@Lolatyou332 if every child was kick out of their parents house, the homeless population would triple. Very dumb move since you need a roof over you head in order to function and get a job.
Well, in Hawaii, the average house here is $700k+. It’s pretty common to see 3 generations under one roof. And just because they live together doesn’t mean they don’t do their own laundry. 😂
I love him to come To Ireland lol 800k + 1 million homes where I I work near by and I wages for a good day is 35k-36k as a nurse - no more and that’s with a deputed . Minimum wage €10.10 an hour : even with degree. No one can buy house unless someone lives at home because a box rented room is now €900-1200
I really hate that some people see millennials as either tech savvy entrepreneurs OR lazy losers!! How is there not a middle ground for people?! Edit: The fact that so many "educated" adults (in the responses below) can STEREOTYPE and show DISDAIN for an ENTIRE GROUP OF PEOPLE continues to help me understand HOW racism and discrimination is still in existence. I hope you're proud of yourselves 👏🏼👏🏼👏🏼👏🏼
@John Taylor price of living? i mean its not by choice some of us have tried but thanks to greedy land lords we're priced out and are forced to move back home
Milan Labus So that’s why 1/3 still live with their parents? Lol. I’m not criticizing, but I’m not to impressed with millennials so called tech savvy. Some have it, most don’t. To much affirmation and not enough teaching by teachers these days.
I say this as a 21 y/o who moved out at 18 and never moved back home, even for a summer in college: I think its rich that you tout your kids for being so independent. Paying their own way. Yeah I wish I could work for daddy's business too. Don't get me wrong, I'm sure they earn their pay, but I wouldn't use them as an example of adult children free from their parents' finances. Don't be a hypocrite, they're just as special as 2/3 of their peers at best.
@@obamahater4205 yeah same. I work a night shift for 18 and I'm doing great on that. Its not impossible. Still pointing out the fact that his kids are not a prime example of how college grads should be when they themselves rely on their parents for support too
@@YandereDay yeah you are 100% right lol I find it ridiculous that he uses his children who's dad is worth 60 million minimum as an example for every day people
Exactly. Dave kids could get good jobs right away bc he’s Dave Ramsey. His daughter currently works for him and I don’t remember if it’s his son or his daughters husband, one of them I think manage his rental property’s. I’m not jealous and don’t make excuses good for Dave but just pointing out the obvious, his kids were put in a good situation where they could succeed bc their dad is Dave Ramsey. And I don’t think there’s anything wrong with that, as a parent you should want to give your kid the best possible chance to succeed in life, which is what parents who let their adult children live at home for a little while do.
No, Dave. Those statistics do not indicate "hammock." Even when children are living with their parents, it doesn't mean the parents are supporting them. Have you seen the cost of monthly rent these days? Cost of health insurance premiums, plus out-of-pocket costs, such as ANNUAL multi-thousand dollar deductibles, co-pays, co-insurance, uncovered expenses, etc.? Seen a tuition bill lately, even for a state college? Car repair bill? A phone bill? You had it a lot better in your day.
cyc7lops I agree! I live rent free with my grandparents, its helped me save a lot! Though I do pay my own car insurance, and phone and gas. But the rent free helps me out more, of course everyone’s opinions and things differ some. But if I can save a 100+k in the next few years. Its all because of them. And then I can move out once I am stable! Having people who help support you is a literal life saver. Dont people understand this? This is how you help your kids have successful lives. Not throwing them into the street at 18, with no guidance.
Well they're smart. I lived at home until i was 23, went straight into a house i owned. not fully paid for but i saved hard for 2 years and put a nice down payment, helps also i moved into the house and it already had 20k in equity above what I paid for it.
I'm 30 and live in my dad's kitchen behind pieces of cardboard. I'm in debt, my credit is trashed, and I have an eviction. No financial institution will touch me with a 10-foot pole. Not even the loan centers inside Mexican grocery stores will give me a $5k loan to buy an old RV to live in. I'm depressed beyond words and frequently think about killing myself.
@@Network126 You're in debt because you brought more than you can afford. Your credit is trashed because you were never good for the money in the first place. You have an eviction because you stayed in someone's home without paying them for months on end. These past 10 years for you have been one bad decision after another.
I'm 25 and finally got a salary (Software Engineer) that allows me to move out of my parent's house. I move out August 5th and I'm debt free because my parents allowed me to live with them. I'm very grateful and very fortunate to be where I'm at. It really depends on the situation.
@@Jimmyg-fg1ph Do you not know how to read? It's August 19th, past August 5th. I'm already moved out. Reading your past comments, you sound very toxic and unhappy with your life. I hope all gets better for you man.
I agree with Dave Ramsey on many things but I disagree with him on this. I think he thinks those statistics are full of "failure to launch" type young adults who just want their parents to treat them like their twelve, cook dinner, do laundry and pay all their bills. I think the reality is most of people in multigenerational situations have made the sacrifice of an ego and comfort based sense of independence for a practical "lets all get ahead together" mentality. Most of the people I know living with parents pay half the bills, half the mortgage or rent, cook their own food, do their own laundry, are married have children etc. it's challenging at times but better to not stick granny in a retirement home, better to not work six jobs and miss out on child's childhood, better for older parents to rent out rooms in their large empty nests to people they love and get passive income for retirement. Yeah... it's "weird" but so is financial freedom I thought. 🤷♀️
My mom did this when I was a small child. She could have chosen to work 6 jobs to get us an apartment, but instead, she moved in with my grandparents after her divorce. I am beyond beyond beyond grateful. I had already lost my birth parents and I required a lot more in order to bond with a new family. Because we moved in with them, my mom stayed home. Granted, I think she should have at least worked part time bc she has saved absolutely nothing and now I am taking care of HER. She has no money saved for retirement and she has nowhere to go or live. She is the type of person that this video is talking about because she was not working or paying any bills. She was living there without really contributing. But, I am happy that my grandparents were able to raise me. I would have ended up orphaned again and in the foster care system if it had not been for them. So so grateful to my grandparents for taking us in and taking over as parents!
Mariah Miller I agree, I live rent free with my grandparents, its helped me save a lot! Though I do pay my own car insurance, and phone and gas. But the rent free helps me out more, of course everyone’s opinions and things differ some. But if I can save a 100+k in the next few years. Its all because of them. And then I can move out once I am stable! Having people who help support you is a literal life saver. Dont people understand this? This is how you help your kids have successful lives. Not throwing them into the street at 18, with no guidance.
Ok, this is a stupid argument by Ramsey. If both parties agree to live together and the kid is helping with bills/chores then I don't see the problem. What Dave argued is very counterintuitive when it comes to paying off debt and work-life balance. All the money saved with staying with parents could help those kids to pay off their debt sooner and perhaps not even need a 2nd or 3rd job. I don't see the harm in it, not to mention the kids are helping the parents too by contributing.
I agree! I live rent free with my grandparents, its helped me save a lot! Though I do pay my own car insurance, and phone and gas. But the rent free helps me out more, of course everyone’s opinions and things differ some. But if I can save a 100+k in the next few years. Its all because of them. And then I can move out once I am stable! Having people who help support you is a literal life saver. Dont people understand this? This is how you help your kids have successful lives. Not throwing them into the street at 18, with no guidance.
@@XFizzlepop-Berrytwist k. Every kid does take those advantages at staying at. I don't mind if you're trying to save up and make a move. What about the ones that not trying to do anything like you mentioned? What do you do then? Do you take care of them ? While they run the streets.
Rawjan 39 If its clear the kids are not putting in any effort into saving money, working, or helping in any way, then you do have to make that cruel decision to kick them out, sadly some people do need drastic situations to improve for whatever reason.
@@homevideosfromnini3975 i don't live in the US, i live in Colombia, i just like Dave Ramsay, so i don't make my money in us dollars, just Colombian pesos, I'm almost there tho
older people are out of date. Back in the 60's when boomers became young adults America was much different then. Kids were more independent, grew up faster and things were way more accessible. There were also more jobs that are not here anymore or have been eliminated by technology. Younger people today are faced with much more challenges and we are living with our parents not because of laziness but because of financial difficulties. Nobody enjoys living with mom and dad but sometimes it's all you got. We need to get past the mean attitude of ''Throw em out'' or ''What a failure''.
My sister in law is 25 with a degree in electrical engineering, no job, lives at home, not doing anything but playing video games all day and my in laws don’t require anything of her. There’s a large percentage of people out there that won’t do jack if they have the opportunity. These people just don’t have the pride and drive for themselves and they are extremely lazy and will mooch their entire lives if they can, these people do exist and there are a lot of them.
Hey Dave, remember all of those student loans you keep hearing about? Why do you think this current generation has to still live at home? Not everyone is as “blessed“ as you may think they are.
Exactly, Dave is soo out of touch with this one. He talks about his kids moving out. They work for your company earning a high wage. And they have no kind of debt.
Good try, but if you listen to Dave, he would say to not take a loan. Don't borrow money. Taking a loan (stupid) so that you end up living with your parents (stupid) while you get a stupid degree.... God is wise in his timing, blessing us when we are ready so that we don't waste it
My mum died when I was 13. I've been paying my way since I was 14 and 9 months. Old enough to get on an independent payment from the government. I've been paying rent since that day. I've got to say, if I had parents I would have loved to have stayed at home, to have support and love. Maybe some of those people have great relationships with their family too? We live in a time now where love and support is encouraged. I'd give anything to have had that. I'm proud of who I am and what I've done with my life but I wish it had been an easier one, just to have some of the pressure off. I'm 33 now by the way.
This rant is applicable in VERY FEW situations. My 26 year old sister is living with our parents, rent and bill free, and acting like the whole world is working against her. So yes, this rant applies to her. My 23 year old boyfriend is living with his parents, running his own landscaping business, and investing all his money in the business’s growth and savings for our future place. And this rant would be downright insulting to him.
Yep, I agree. This is a whole different generation, it's not as easy as it used to be back in the 50s-90s... I'm also in a similar situation, I'm 24 and I still have around 17k in student loans (Which I'm calmly paying off), I have around 50k on my bank with just two years of working as an engineer and have a salary that just keeps going up plus an online business.
@@4862cjc Great but I have slacked off a bit due to the halt in payments. I wrote that comment a few years ago and my salary is now well over the 6 digit mark (My salary was around 40k-70k when I wrote that comment) And now I live in an apartment just outside a major city. I still haven't paid it all though. But my comment still stands. This is a different generation and it's much much harder for us younger folks.
I usually agree with Dave but this is a simple-minded way of looking at the situation. Dave is all about building wealth and avoiding debt like the plague and yet, he is advocating for young folks saddled with $30-100K of student debt and entry level jobs (if lucky) that pay $30-40K to go out and essentially waste money on rent, bills etc... when they could be aggressively paying off their debt and building a down-payment while living at home a little longer. At the end of the day, it doesn't matter what other people think, you have to do what's right for you.
The problem is the best job u think u can get is an entry level low paying job. Y'all even say that's the best y'all can do. This generation has such low self esteem and loser mentality, I'm glad I'm not like alot of millennials in my age range.
And don't say I don't understand because of "back in the day" because I'm a millennial myself. I turn 34 this December. But alot (not all) millennials are crybaby underachievers who make excuses and are scared to climb up in the world.
I was raised differently. My parents did not kick me out at 18 like most American families. Instead they encouraged me to work hard & contribute. When I saved 20% down payment, I bought my first home but later my father convinced me to convert it to a rental and move back in since I was not married, and I did not have any kids. Best decision ever because I am not even 40 yet and I own a beautiful home clear and free and if I wanted to, I could buy my dream car with Cash. Thanks Mom & Dad.
I dont agree here. I'm 23 and was in a situation at home where my parents are very unstable. I absolutely had to at 18, move out, get my own place, pay my own bills and care for my self. I know people my age who are years ahead of me financially because they have been afforded the chance to live at home rent free, with no bills which has given them the opportunity to save more money up, have nicer things (such as cars, houses etc) where I spent my money on a $5000 car and have to pay for a place to live. Others my age have brand new paid off vehicles, purchasing their first homes or just simply have enough in savings that if they wanted to buy one they could start. Living at home as a young adult, assuming you're at least somewhat responsible is a blessing and puts these kids farther ahead than others their age.
Right there with you, mate. I was homeless from 16-23, I'm 29 now and still have nothing but at least I have a direction to go towards college. My peers who will be living with their family during school will graduate in a significantly better financial position than I will. It's not even a choice for most, if you have access to family you live with them post highschool because you can't afford to do anything else.
Ree Maines Honestly its really only US that pushes this idea of moving out at 18 with practically no life skills or support. Most countries, All of Asia, and South America especially, parts of Europe, people stay at home well into their 20’s or 30’s.
Yea but you will be able to dig deep when you need to and climb out of ANY hole you may end up in. They may not. And you have your whole life to pass them up. Id rather be you than them. Im 36 and had a nearly identical adulthood.
@@natas0733 kids who depended on their parents for too long may continue to do so even after the marry and have kids. They may keep running back to ask for money in times of "emergencies" like my aunt does
I’m 36 and still living at home. I do have severe anxiety and honestly would not make it on my own. I pay for groceries, my own vehicle and insurance, I do ALL the cleaning, have painted different rooms in the house. I fully understand that they are letting me live here out of the kindness of their hearts but it is NOT a free ride. I feel very dignified as an adult. Everyone’s situation is different ❤️
In Latin culture is different we usually move out once we are married but in the meantime we are old enough to work we help our parents/s with rent and chores, it is normal to see 30 year olds with mom and dad but we are being productive, this is specially so with Latin women. Not saying all Latinos follow this but a vast majority do and I love having being raised like that .
I mean sure it may work if you have decent parents that respect you. Try living with an overbearing parent who is always judging everything you do and when you do go on a date saying "You are spending to much time with him/her." Also I want my kids to be successful that's why I'll equip them with the knowledge they need but I'm not supporting them far into adulthood.
A lot of Hispanics who still live at home have spouses and kids. It seems like the homes are crowded with a lot of kids. I guess it is o.k. to have a family of your own while living with your parents.
Devin Kipp I agree it depends on your parents as well some are lucky with good ones and some not so much . I’m not saying all adults should stay at home and live with their parents , but if you have loving parents or parent I don’t see the rush at moving out so fast , unless of course you are in a bad and possibly dangerous household. But In the past my non Hispanic friends for some reason always moved out as soon as they hit 18 like they were in a rush and it for the most part always had a bad outcome . Not to say it will be the case for all but our Latin culture is just a bit different, we don’t necessarily feel the rush to move out immediately when we hit 18.
@ damien Smith it all depends if they are possibly saving up for a home or an apartment. Maybe they lost their jobs . But I agree some ppl will take advantage , but for the most part I don’t see a problem as long as you are being productive and are trying to eventually get your own home. now if your with your parents and just mooching off them than that’s a whole different story.
This is ridiculous. I lived with my mom until I was 27. The whole time I was either working, going to school or both. I bought my house and moved out. We had a great relationship the whole time. Now I'm completely debt free and well on my way to becoming a millionaire. What exactly is wrong with that? Saying young adults need to move out is the same as saying all people need to go to college.
Mike Tyson once said that "Everybody has a plan until they get punched in the mouth" The only problem with these scenarios is that they are assuming that Life will be steady until we are Ready. No close family member will die, parents will not have serious health problems etc. My wife had to go back to Brazil for health reasons, meaning I had to handle the house by myself. Then my 99yr old father started asking for me during his last years and I had to move to New England to take care of him and his property. My 20yr. old in the meantime was just having a good relationship, going to school etc. . She had one week to move out so I could sell the house. My wife came up from Brazil and helped her find a one bedroom basement apartment in a week. Life is not still water. Stuff happens and the more prepared you are to actually manage life and be on your own, then ride the bench, the better you will be able to handle it.😎
Your mentality is part of the issue. "They worked 6 jobs to pay off their debt!" ....You think that's the way things should be? I understand that those who adapt and overcome will succeed regardless by "working 6 jobs", etc. However, don't you think there's a problem with our society as a whole when one has to work 50-60+ hours per week just to make ends meet and live debt free? European countries look at our country's job/work situation as barbaric with the insane amount of hours we're expected to work.
I see your point Marco. Dave Ramsey encourages people to get out of debt THEN save for at least a 6 month emergency fund THEN save for at least a 20% down payment, but frowns upon millennials living at home? WHERE should they live while attempting to get out of debt and save this money, with 62 roommates?! SMH. I respect a lot of his advice/experiences, but this I am against. All millennials aren't lazy participation trophy recipients. Solution: AFFORDABLE HOUSING for those living at or below the medium household income (of one's area)
Even then that kind of "temporary" period could have severe consequences down the line, in terms of health. In a country where the health care is what it is, I'd certainly not be taking that kind of risks.
Melra Exactly. Don't even get me started on health care. I'm in my final year of medical school in the US and I can't even afford medical insurance (oh, the irony). Shame on me for being a millennial and going to medical school from a poor family.
How things "should be"??? Whiny excuses. That's your problem right there;Just keep wishing for things to be as you THINK they "should be" and you will be in the same situation in 5 years...
I understand where he's coming from. The thing is, he thinks that a good majority of us are lazy and not wanting to work. The reality is that many of us work 2-3 jobs trying to pay off their debt. He is speaking from his perspective of HIS OWN community. There is also a factor he is not thinking of, they don't pay us similar wages as they did back then, good jobs are being cut down and replaced with fast food jobs, the cost of college tuition is rising every year, and rent goes up every year while wages stay stagnant. It's hard out here.
bs most kids dont leave their place because they are codependent. I know dudes who reject job contracts at 30 still living with their parents. because they are afraid of giving 1/4 of their income to a rent. they mommys still clean their rooms and do their groceries. bunch of child man everywhere. genz is gonna be even worse.
I’m not sure what is so unrealistic. He said after 25. If you support your kid through college for a 4 year degree into a decent field, that would still give them a couple years with mom and dad to save up and move out. That’s completely reasonable.
I am 32 and make 280,000 a year. And I live with my parents they have a 6000 sqft house and don’t charge me rent and pay for the food. I have been investing my money and saving it. I have no reason to move just to move, the moment you let someone else tell you what it means to be a man that’s when you aren’t a man.
Moved out at 20 years old and it was very difficult but I don't regret it one bit. I grew so much as a person and I'm definitely more knowledgeable and responsible than a ton of people my age. 🙌🏼
He is so out of touch with reality. He doesn't realize how difficult it is for normal people nowadays. Half of America makes less than 30,000 dollars a year.
@Massiel Portorreal not even help with bills, parents shouldn't need their kids to help with bills,the kids could just do chores to learn how to function as an adult and save all their money for a house Living with parents allows you to save almost all of your money
He became a money smart financial”guru” after he dug himself out of a deep hole of Bankruptcy. Clawed his way out debt. He paid off every bill. He and his young family didn’t Eat Fast food. They ate hotdogs and beans.
@@dppaulson6146 or he could have stayed with his parents, not go into debt and still become a financial guru without too much risks. Getting out of ur house at 18 doesn't always equate better future.
@@adityaneer he could’ve but he made those mistakes already, hence why he’s here telling you not too, there’s no better teacher than life and that’s a fact
@@Naxatthedoor There is no worser teacher than life actually. The best teachers are the people around u and News. People just choose to ignore them. Also, staying with ur parents is the reason why most Asian cultures have reached greater heights in the USA
Theres this thing about the children having to take care of the parents once theyre old. And it is much easier to take care of them if youre in the same house.
Milla Diaz This is normal in Easter Europe. Sometimes you can find 4 generation family. Husband and wife (20-40s years old) go to work and 50-60s years old woman take care about grandkids, her olderly parents and house. My mother and grandmother on vacation for 3 weeks now, and it so hard find family and work balance at this time.
American culture is wrong economics. I am Asian and have seen and lived both worlds. If you live in your parents home and help your parents by shouldering the water and electric bill it’s a win-win situation. I own my own house now free and clear, have a college degree student loan free with over $100K investment in blue chip stock earning passive income the only thing I did is I lived in my mom’s basement until I have enough cash to buy a house debt free. Wise economics is utilizing your resources to a 100%. As long as your parents didn’t drive you out in my opinion it’s ok to live in their house. Rather than crippling yourself in debt just to have that “American dignity” of independence
^^^THIS is the most accurate statement. There is a healthy balance that can be achieved with a responsible child/parent dynamic at home BUT most people don’t achieve it.
It doesn't Dave's view is skewed and the assumptions are false and goes against the general population statistics. Statistics speaks much louder than Dave's boomer's uncaring opinions.
@@vampiresRsolame mortgage isnt bad debt. Even though a house is a liability, the asset it's attached to is relatively liquid, unlike credit card/student loan etc.
I'm 21 y/o and i still live with my parents. I don't plan on moving out in the next 1-2 years until i have my college degree and i got a fulltime job that's not washing dishes for 10$ per hour. Right now i work 20-30 hours per week AND i'm still pursuing my degree. I live with my parents not because i want to, but because i don't want to go into debt so i can pay for my own rent and pay for my own food. I don't call that being a lazy immature young adult, i would consider that being financially responsible and being patient. I don't want to move out until i can actually affort moving out.
This is not only horrible personal advice, but it's horrible financial advice. An adult who lives with parents can pay household expenses, provide transportation, do laundry for their parents, grocery shop for their parents, and provide free elder care. If family doesn't do this for aging parents, it has to be hired at great expense. I lived with my widowed, disabled mother for many years and did all these things that she needed. This idea that "kids need to get out" just makes a family pay for two residences, two heating bills, two property taxes, etc - when they could share one and have a lot more money.
I’m staying with my parents until 27-28, will have all my debt paid off, great emergency fund, and have about $50k invested, being smart and living with your parents is a W
This. Not all people who live with their parents are irresponsible. Back when I lived with my parents, since a teenager, I did all my own cleaning, laundry and errands. My parents never did any of that for me. And I've been cooking for myself since age 12. And after I graduated high school, I worked full-time and saved the majority of the money.
Investment in psychology and spiritual growth vs financial growth. Life is not all about collecting beans and numbers. In fact the former will help accelerate the latter.
@@FernandoMartinez-pv1id dave isn’t an all knowing being that knows and correct about everything. Plenty of times the comment section disagrees with his takes.
@@FernandoMartinez-pv1id but I and many others my age have just accepted that we won't get the same privileges granted to older generations, and that's why this is undoubtedly the most financial engaged and educated generation ever.
I am 26 and my fiance is 24. Our parents graciously let us live at home for free while we finished school. We will be debt free and will be financially set for years to come. So just depends on the situation, I am sure some of those 25 years are slackers. Also we will be moving out this year haha!
I agree with what you have to say. You can skip all the steps with Dave Ramsey and be able to save so much more then wasting money on an apartment for rent.
Limewir3 - Don't worry about people who are jealous about your situation. I can be honest enough to envy your situation without name calling. Go forth and enjoy life.
In Asian culture, it's the norm that kids live with their parents even when they graduate school and land full time jobs. Imo, as long as they are in school, or working full time, there is nothing wrong with living with your parents
It is just a different mindset. Americans and a lot of Westerners value their independence and freedom more. As an Asian, I agree with you, even though our culture of staying with our parents is frowned upon by Americans and Westerners. And we are not even lazy bums if we do so.
True. But I guess Dave's point is to those guys who are unemployed and are in their late 20s. In my country a simple apartment rent in a normal city is around 400-600€ The minimum wage is 640€. We have some of the most expensive water and gas prices in Europe. Im 24, I earn more than the minimum wage. If I were to get out I would probably not be able to eat lol. i could pay the bills and my car (but wouldnt be able to pay for insurance either, or gas). Its easy to talk for some.
Try living as a 20 something male in southern California with a bachelor's degree, making $12 an hour full time, and an $11 an hour part time job. U dont have health insurance, you dont get gov. aid. Even with a roomate, u cant make a living
Work for wells Fargo, I think it's 20 an hour in Cali with health vision dental 6% 401k match PTO tuition reimbursement etc. Not a bad company to work for if you ask me
What they don't want to talk about is that there are so many people who are older that can't afford to live on their own either. It's not just young people. There are people who are middle-aged and they get laid off from a job and no one wants to hire older people so they can't afford anything. Or medical bills drown them. They might lose their home to a contractor who is planning to build a mall or something in its place and they can't afford the new market. No one ever talks about this. It's always young people
alexguy96 find a job in a restaurant as a busboy or a waiter even. great money and probably don’t even have to work more than 40 hours to make a good weekly pay
Unfortunately cost of living is not what it use to be when millennials parents were growing up. Yes their wages were less but everything else was way more affordable than in 2018. Even a 4 year university was affordable in the 80s when my dad was in college. I left my parents house at 18 but the only way I was able to survive without my parents help and go to college without their help is moving to a different state. It was not possible to live in Orange County, CA at 18 on my own and go to school. So I moved to a different state and it all worked out :)
Diane Cajal I agree! Again, Dave Ramsey encourages people to get out of debt THEN save for at least a 6 month emergency fund THEN save for at least a 20% down payment, but frowns upon millennials living at home? Soooo the alternative is work 3 jobs and/or have 6 roommates until you accomplish these things? SMH. I respect a lot of his advice/experiences, but this I am against. I see no issue with millennials staying at home until they at least complete baby step 2!!!! All millennials are NOT eating chips on the couch watching reruns of Scandal and Game of Thrones!!!
Diane Cajal The issue is people are going to colleges they can't afford or picking worthless degrees. Go to a community college, transfer to a university later and your already in much better shape. To many people go to a fancy college straight out of high school and pursue a degree that won't make money or they change their minds every 10 seconds. Go to college or a trade school when you know what you want to do. Don't go to college just because you were told to. So many of my co-workers have 28k or more of college debt and it amounted to nothing
Just curious, what state did you go to? I live in Michigan, & am about to move to Virginia. Michigan has a very affordable cost of living, Virginia will cost more. But I am hoping that the field I work in pays more in Virginia as well. Plus, there is far more jobs to choose from in Virginia.
Are you really this clueless? What makes you think all these baby boomer parents don't need "room mates" to afford housing too? A lot of people are feeling the heat right now.
While watching the video, I was like: "Well said, Dave Ramsey!" But after reading the comment section, I'm glad I did read them, because the people are very reasonable and smart enough to explain that not all young adults are lazy just bc they are living with their parents. I think Dave Ramsey was referring to people who are really lazy, not working, just playing video games or doing pretty much nothing, eating what mom cooks, not cleaning his dishes or laundry, etc. I think Dave Ramsey's rhetoric will improve over time, being careful with his words, being careful enough not to sound too generalizing. I think this is what I LOVE about RUclips - you not only cat get amazing lessons from successful people, but also acquire critical & balanced understanding by reading the comment section with agreeing & disagreeing people. So much to learn!
Winnie 위니 I live rent free with my grandparents, its helped me save a lot! Though I do pay my own car insurance, and phone and gas. But the rent free helps me out more, of course everyone’s opinions and things differ some. But if I can save a 100+k in the next few years. Its all because of them. And then I can move out once I am stable! Having people who help support you is a literal life saver. Dont people understand this? This is how you help your kids have successful lives. Not throwing them into the street at 18, with no guidance.
Winnie 위니 I dont think Dave is going to change the way he words things. XD I also dont think he is referring to lazy, entitled people only. I think he fully means that if you are 25+ you should be on your own.
Best thing my dad did for me was let me live in his basement . I bought a house at 25 , rented it out and stayed at my dads house , bought a 2nd house at 28 and moved into . i will return the favour to my kids.
@Roy_Thousand So for you, staying with parents automatically means someone is jobless and lazy even when you have a job and helping your parents financially and also helping with the household chores. Well, we Asians do this all the time but we earn a living, help pay the bills, help with the chores and even take care of our parents when they are old, whether we are single or married. And those actions are not what a kid would do but what responsible adults do. So I agree with the OP that living with your parents does not equal being lazy and lacking a job. Well, not all the time.
I'm 29, still live with my parents...but I'm a nursing student (went back to school at 26 since working in retail doesn't cut it), great credit, no debt. My lpn program is paid in full by pell grants. Obviously if you're doing nothing with your life and make your parents miserable that's a different story. But I am so thankful my parents let me breath a little and take a step back in my 20s to really figure out what I wanted to so with my life. Don't get me wrong, no woman wants to date a man who's 29 and live with his parents...but you shouldn't care. My priority is finishing nursing school and spending my 30s traveling the United States as a travel nurse. Life is good.
I’m in a situation where my father passed away and my mother and I got an apartment together. We each split the bills and it works out great for us both. I save money and my mom saves money.
So sorry about your father! I respect and admire you for stepping in and helping your mom. I have a similar situation, where my mom came to live with me bc she couldn't live at her parent's anymore. At first, I was the provider, but now we are splitting the bills. What I don't understand is why people see this as any different from having a roomate? My sister and I were seperated through adoption... but if I had a sister and she was my roomate, would there still be judgement? Why do I have to go look for a stranger to share a room with instead of my mom?
In 1950, a young adult could work at a factory and be able to buy a home and support a family. It's not the same today.
In 1950 there was a draft for the Korean War. Young men who served got out, got married and were able to buy a starter home with no money down on the GI Bill. Serving in the military is a great way to pay for college, buy a house and learn to be responsible. Not everybody needs to get a BA and get buried in student loan debt, there are other options.
then why did ur generation decide to tell your children that that was the only option to have a succesful life? absolutely hypocritical @@lisamarielund6292
Yeah, in the 1930's Your Parents went through the Great Depression and they made it through the worst economic time in the country's history. Find another excuse and "get up off your butt and move out of your Mommy's basement" It is incredibly hard to find a good reason for people to say your not LAZY😎
@@RoddieSimmons yea my parents aren’t that old dumbass. Use an inflation calculator and educate yourself. However I did go through college on a full ride and have a very succesful career, but for a lot of my peers life ain’t so damn easy. Rent is like 2k a month where I live. That’s more than half of the avg US household income just on rent
@@RoddieSimmonsThe only people who even remember the Great Depression are in their 90's. Most of our parents are either war babies or baby boomers who lived through the 50s-early 70s when the economy was in the best shape in human history.
Not saying that there aren't ways to improve your situation or be more frugal (you can literally just live off of rice and beans if you need to) but it is objectively a tougher situation now
I lived at home throughout my 20's. Paid off all my loans, earned a master's degree, took three backpacking trips to 15 different countries, worked full-time through all of it (minus the vacations).
In nearly every other country I've been to, it's normal for people to live at home well into adulthood. Family is celebrated and it's not considered "your parents' home." It's considered "the family home."
Point being: don't let Dave or anyone else tell you what you should do or where you should be. Everyone's life is his/her own.
I've accomplished more in my 20's by living at home than I would have if I had 3 roommates and lived paycheck to paycheck.
This in other cultures its very normal to make sure your kids are stable before you give them the boot. Only in america do parents consider 18 as some signal to kick your kids to the curb. i moved out at 18 and could have probably spent at least 2 more years at home and less mistakes because of it
You stopped listening before 1:30 because there was your answer.
So you mooched off your parents. I dont even need to know you to know youre a Narcissist. Disgusting. For your whole information people do that because theyre poor.
Crybaby
He’s just a traditional southern Caucasian man.
Dave says to be financially secure you need to "be weird." On the other hand, he thinks it's weird that young people are living at home to reach financial security and he condemns them for it.
^ THIS
He sells financial advice. Hes just scamming people.
@@Endeavour255 I agree with you but Dave has no wiggle room on this. He thinks you’re a loser if you don’t move out as soon as possible. He’d rather you grow up paying rent on your own than “mooching off of your parents like a second class citizen”
@@Prostudios-xq4xq enabled adult children is who he's talking about
Right
I wonder how many kids had $50K+ in student debt back in the day.
NONE
My grandparents were not well off yet they sent my mother to a state university. She worked summers but not while in school. At graduation the debt was under $1,000 and they paid it off by the end the year in 1972. I hate the government so much for screwing it up in the name of helping poor people.
@@justonemori Wow....1972. I wasn't even born yet.
brain surgeons... MAYBE
Well. Only idiots have that today too so.. probably about the same amount.
Im 25 and still living at home. And i plan to live here atleast 1.5 more years. Im setting myself up for success. No shame.
Ego fractured though.... To each their own.
Well done.
IdkTriple _
Do you disagree?
@@nathan_2780 I'm sure his bank account is bigger than yours.... Your ego fractured
Smart. Budget, pay off debt and save. If you move out, you will live check to check and NEVER save nor get out of debt. Sorry Dave, there are exceptions!
5:47 I love how Dave brags about how his kids barely had to live at home after college. Wonder if that has anything to do with the fact that they came from a financially literate home with a $55 million networth and were offered lucrative job opportunities at their father's massively successful business? I don't doubt for a second that they're bright and hardworking, but so are a significant amount of milennials living at home. College prices, rent, mortgages, insurance, etc. have all skyrocketed in price since Dave was in his 20s and they have exceeded normal inflation. At the same time, wages have stagnated and since 1984 the purchasing power of the federal minimum wage has decreased. This is all publically available, non-disputed information. Meanwhile Dave doesn't want you to take out student loans, go into debt for any reason, build credit, or live with a significant other until you're married, but he'll mock you and your parents if you dare live together past the age of 25. Dave, don't you think any one of these factors has a bigger impact on the % of millenials living at home rather than it's just the majority of an entire generation that's lazier than every previous generation? -- Sincerely a debt free millenial with a STEM degree, who is investing towards my retirement and still living with my parents at age 24.
You're being mad like he wants you too. They're an arrested development issue in the US. If you don't admit that you're probably willfully ignorant
@@draintheswampnews3656 I'm not mad at all, I just think Dave is incredibly wrong here. You're willfully ignorant if you ignore all the facts I posted and your only claim is "there is an arrested development issue in the US" with 0 data to show for it.
I agree with you 100%. The system has it made so that everyone thinks that college is the only way. Student taking out loans and being on debt seems like the only way to have a future for many people. Staying at home with parents is a way to help ease that debt. Before the 80s people had it easy. You could get a job at McDonald's and still be able to live on your own. Now you need at least $100k annual income to do this in California.
@Fem Chick Actually they're called environmental factors
The "shoe" fits for some people but not all. I know people where this fits and I know other's where they truly need to grow up and be 100% independent. If you have a financial plan you're working towards than great but at some point you need to be on your own. I'm not saying "you" personally bc I don't know you. Just talking about the ppl I know that use their parents as a crutch.
This is the problem with baby boomers. They're the most entitled generation of all time. They had affordable housing, great entry level jobs, affordable health care, ect. We have a stagnant minimum wage that isnt even close to matching inflation, very few good entry level jobs, a housing crisis, college that will put you in debt for the rest of your life, god awful health care, and the list just goes on. But the baby boomers think "oh we worked so hard. Young people today are just lazy and dont want to work. I bought my house for 32,000 on a single, part time income while going to school. Why cant these millennials just leave the house at 18 with no money, no job, no college education and get a great job/buy a house like I did? ". News flash, this country isnt the great land of opportunity that it used to be. My parents house, and general housing where I live has increased in value over well over 100% just in the last 20 years. Buying is out of the question for most people, and rent is more expensive than owning. So yea sorry Dave, on a single income, unless you live in the boonies, its near impossible for most people to afford to live on their own.
SouthernFried87 the military isnt for everyone though. What that guy just said is true. Back in the days, you go to collage and pay off a house with a part time job. Inflation is out running every one paychecks. I get it. You are young and you are living on your own and the military hooked you up. That's awesome, but don't look down on people that's less fortunate than u. I'm 26 years old and I'm a home owner and I have 2 cars thats paid off upfront and I own a business. I took advantage and a risk and it worked in my favor. But won't go around and tell people "that sounds like a personal problem. Maybe u should start a business like i did" not a lot of people have the money or opportunity to do that. Same with the military. Not everyone is cut out for it
It's not a personal problem for me. I'm 24 and I did a 4 year apprenticeship in a shipyard at 18 only 3 months after graduating high school. Depending on overtime, I make around 60-70k a year now, and have saved close to 80,000 not including TSP savings. Its not something I like to do, or what I wanted to do, but because of the area that I live and the very real issues about this country that I stated earlier, its what i had to do to set myself up for a decent life. The military is a good option for a lot of people, but to me personally, that service agreement is a waist of life. Regardless of my personal beliefs/situation, I'm speaking for the average millennial that doesn't have options like I did. The jobs and opportunities just aren't out there like they used to be.
Ganimame Exactly!
This is one of the best comments on here. So true.
America is the land of opportunity if you're someone like Dave Ramsey.
White. Male. Middle aged. Rich.
That's the sad reality of it. Why do you think the political system is the way it is?
Uhhh....your children work for you and probably have a decent salary. Let them go out and find a job outside your organization then let's talk.
J T he casually forgets this fact
Yea blame your lazy situation on someone who's successful. Get your own success.
@@10dtrupe I don't believe this person is lazy my father works for the military he told me I can stay home as long as i need until I move out again or he'll help me join the military dave kinda forgets he does hold his kids hand I just finished college an joining the military kinda wish my dad was rich so I could just work for him
Easy to “live on their own” when daddy’s paying their paycheck
Someone obviously didn't get the point of the video... Everyone has a unique situation, but 1/3 is quite a few people, and shows that parents are enabling there child's poor behavior.
I had to live with my mom in my 20s rent free while I saved money. Dave knows that costs of homes have quadrupled since the 70s, right?
So has income. Its all relative.
@@wnevermind2292 income has not increased as fast as rent
@@wnevermind2292 your bugging. Lol
So has income and opportunities
Apparently not.
Dave doesn't your kids work for you and your paying them a high salary. Have them look outside your company, good paying jobs are not easy to come by these days even with a degree and student loan debt.
Yep lol
Jobs are not hard to find if you put in the work
@@RKLIFE17 yeah, over time and two jobs = modern day slavery.
@@RKLIFE17 "If you put in the work" is what people say to mean "it's hard to do/come by"
His kids got college paid for and huge financial gift upon graduation. But the most important thing he gave them was a financial strategy. I feel like my kids did not have the same experience. I blame myself. I did not follow a financial plan until recently. I was always afraid of debt and stayed away. Married and had no plan for my kids. Right now thanks to my husband and myself, they have huge student debt. The apple doesn't fall far from the tree, and my kids also stay away from debt. But I do wish I had saved to pay for their college. We failed them in that department. And sure, they are living at home til they get out of debt and save to buy something. Reality is, most families live check to check.
I lived at home till I was 29. Just turned 30. My parents did not support me financially. I had to pay rent to my mom who's house was already paid off, bought my own groceries, paid my phone bill, car insurance, etc. Living at home helped me save money for school and buying a home. Paid off my school loans. I have no debt whatsoever. Best decision to stay at home. My mom didn't want to see her kids struggle. Nothing taboo about that!
nicole smith You indicated your parents did not support you financially because you paid rent, among other things, while living at home. Later you said you saved a lot of money because you lived at home. This is contradictory. If you saved more money by living at home, that means they helped you financially, whether it was lower than fair market value rent or by other means. I'm not against living at home, I'm just pointing out you are lying to yourself if you say you were not helped out financially.
Wonderful example of parents helping their kids to get ahead of the game.
nicole smith lucky you.
@Joe ...why are you so nit picky? ..She meant she paid a "small rent" ... let's say 200-400 bucks per month as opposed to 700-1000 per month... she pocketed the rest Einstein.
I don't think any person wants to live with his parents. i think this is a false narrative(pushed by clueless boomers) to explain why millennials still live with their parents.
even neets who live with their parents into their 30s want to live independently but can't due to some mental illness or social anxiety disorder. they don't have the social skills to get a job
My parents “encouraged” me to move out when I finished high school. I was 17. I spent the next 10 years battling through uni, accumulating debt and basically being miserable. On the one hand, I’m glad to have been raised to be independent, but on the other I wasted my twenties. I don’t think I’ll be making the same choices with my own children.
I think you made the right decision the trend is now going from 1/3 to 1/2 in just two years living with their parents I think you made the best decision to be independent
17 is a bit young
@@Podemosllegaralossubs-ty7bq being miserable is the best decision?
@@baf03 lucky the half that get indipendent
Totally relate! I'm not doing that to my kids either. Don't get me wrong though, they are getting part time jobs and chipping into family affairs as an adult as soon as they reach 20. But I'm not sending them out there to accumulate debt and work a million jobs to pay for rent while I still have a house!
I'm 36 now and I can honestly say leaving home at 18 was the dumbest thing I ever did.
Why?
My Profile . At that age, everyone takes advantage of your naivety, especially your employer and landlord . Learning life lessons that way can lead to irreversible mistakes. You associate yourself with a network of people to survive, it almost always leads to you taking the long road in life. Hard to explain.
Me too. If I could go back I would have stayed at home longer.
I concur at 18 i already had 7 credit cards. 10,000 dollars in credit card debt. A car loan of 3900. My credit was in the 500's. The car i bought was acting a fool. Electricity got shut off. I almost got evicted and so much more. I promise u i picked up the phone and moved back home. I wasn't ready for the real world!
You are right... This strong and independent living like the strong and independent propaganda use for exploitation the naive
Nothing is wrong with living at home if you are contributing to the household and you're not a bum doing nothing.
I agree, some 25 year olds are supporting their parents living at home.
Kik Init No they arent. And if so its a tiny tiny percentage
552mustang how would you know?
552mustang you're right...
Wrong, there's quite many of them, not the majority, but really not tiny tiny percentage. There are also cases where the parents are sick or not doing too well and the young adult is the main thing keeping the household running, I've seen it before. This is with people living in US and UK, I lived out on my own when I was around 18, but I could've done it when I was 16. My country helps with that as it realizes how important the step is for some people's growth.
It however doesn't mean the people who are being productive, helping their families or working to pay away debt rather than getting into more debt should be disregarded as a tiny minority. That just promotes the false image that millenials are generally just lazy, which they really aren't, not anymore than previous generations.
Most households in the 1940s had ONE income off of a simple high school diploma... that is no long the case in today’s economy dave
It's actually pretty common in most of the world for families to live together. It's a fairly uniquely American thing to get your own place.
I have one income and no college degree, and I moved out at 19 and figured it out.
@@thekristencreecy no one saids it’s hard it’s not Economically smart. Think about the money wasted by moving out
@@thekristencreecy I agree with you if that’s the case. If they are unemployed and living with their parents this is a problem. But most are just trying to scrape some cash together, save a few bucks. I agree though as well there are a bunch of lazy people and if I was bottom feeding off my parents they would get rid of me on their own hahaha
@@joeker9448 any advice
My parents let my wife, daughter and I stay with them for 2 years while we finished school, paid off student loan debt and saved for a down payment on our house. I'm 27 and debt free because of it. And our relationship with my parents has never been better. It really just depends on the situation.
CONGRATULATIONS Paul Johnston!!! That's awesome. And well said. It depends on the situation!!!
That is what a safety net is to get on your feet
So you are debt free and that’s great, but are her parents debt free? Or did they fund your debt at their expense?
In order for someone to be debt free someone else had to absorb their debt.
@@johnd3982 What you said doesn't make sense. Them getting out of debt doesn't somehow put the parents in debt just because they lived together especially if they helped cover utilities and whatnot.
Congrats bro
He doesn’t mention the middle ground -
Paying rent and other expenses while living at your parents’ house.
He's talking about the people who are completely dependent on their parents.
Right and also cooking your own food and stocking your own food no exceptions.
@@startingtech3900 that would be under "other expenses" in my book ;)
And even helping out your parents with some of the chores while still taking care of yourself without bothering mom and dad.
Well you might as well move out then. The only reason to stay is if you're too young or if you can't afford to move.
I love being lectured by boomers about living with parents when college adjusted for inflation was like 1/3rd what it is today and the minimum wage adjusted for inflation was like $12
Actually the minimum wage adjusted for inflation peaked in 1978 at less than 10 but still an accurate point
A few yrs of diligence and you can be making 6 figures in the trades, never been easier then today. NO need for student debt to do it.
Get a roommate, because it helps with the rent.
Eat at home as much as you can, it's cheaper than going out
Supplement your income with either a second part-time job, summer jobs, or temp jobs every now and then. It's more work and it is hard, but you have to remember who is responsible for your own life.
Cut luxury things out of the budget. Starbucks is a luxury.
If you still live at home because doing any of these things is too hard for you to fathom than you need some lecturing regardless of what minimum wage is now or what it was when the person lecturing you was young
God Bless!
Bo McGillacutty But those jobs are also the most vulnerable to automation/AI.....
@@Mrbfgray some shops will pay you to go to college in the trades.
Years ago minimum wage was good enough to get your own place
Now minimum wage is only enough to get from and to work lol
I felt that.
What's the self defeating psychology of telling yourself that minimum wage is the best that you can do?
Was there. Literally had to join the military otherwise I would have been broke forever
No it was not. My mom worked at a Wendy's in the mid to late 70's (when she was in college) she told me she made $1.75/hr. She would not have been able to afford her own place. Minimum wage doesn't mean liveable wage.
@@synchronicity458 and if that's all you can get, get two minimum wage jobs.
So you don't think young people should live with their parents after 25, and you don't think they should live with a significant other before they're married. But you also think people need to live below their means enough to pay off debts like student loans.
He really doesn't seem to understand the financial realities of young people these days
Carolyn B.
I live rent free with my grandparents, its helped me save a lot!
Though I do pay my own car insurance, and phone and gas.
But the rent free helps me out more, of course everyone’s opinions and things differ some.
But if I can save a 100+k in the next few years.
Its all because of them.
And then I can move out once I am stable!
Having people who help support you is a literal life saver.
Dont people understand this? This is how you help your kids have successful lives.
Not throwing them into the street at 18, with no guidance.
Dont listen to that other person! You do you!
Richard Dixon
You are just mad at other people’s success.
Here does that's why he has his business and what is all based on. Helping folks out even if it hurts their feelings. Have you been paying attention at all
Carolyn B. I think his morals and beliefs sometimes contradict his financial advice.
Oh no he understands perfectly. The best thing to do in order to save up for a year or two/decrease loans is rent a spot with a roommate. I'm sure A LOT of people are highly allergic to that idea since they means they can't pocket all their $, eat up all their families food, have their mamma wash their drawers, & drive a fly ride, lol. Sharing with someone will mean paying some utilities/rent but at least you're on your own and saving some $, and have a splash of dignity.
While I love Dave in many ways, he still is a crusty old man at heart.
not crusty lol
Old people are just as entitled.
Garrett O especially when they bring up the “don’t talk back” card
Looks like you can’t handle the truth
I like how he instantly correlates the entire 1/3 of the people pulled out from the data with being a bunch of lazy bums. Such an old guy way to think lol
Dave, wages have been stagnating since the 80s. While costs of living are going up . You make no sense here. The economy isn’t hot at all.
@Richard Dixon truth
You haven't researched that at all have you.
Excuses, grow up.
have you? Wages and inflation slowly climbed up together until wages started to stagnant but inflation stayed climbing. If wages never went stagnant we would be up to 20-25 an hour minimum wage
Stagnant since the 80s? Everyone I know gets a raise every year and I don’t know anyone who is stuck making the same salary they did in the 80s. Whoever you’re talking about must not be very good at their job, because if they were, they would’ve gotten several raises and promotions since the 80s.
I lived with my parents at 26. Now I'm 28, living in the best luxury apartment in town making $90,000 a year.
If I was tossed out onto my own earlier, I wouldn't be here.
Bad video by Dave.
Agreed.
I dont make 90k a year, but I have a ton of money saved
Right. You needed that time to budget, pay off debt and save. I agree 100%. Dave doesn't realize the difference is he saved for his kids college and even wedding expenses. That was a huge help! No debt and high paying career, OF COURSE his kids were on their own after college!
so you couldn't have rented a place with a roommate, relative or friend to save up?
@@drmher which obviously costs more than just living with your parents rent free or for a fairly reduced living cost.
@@chantalreneehayles7976 Having a roommate for example, or sharing with a grown cousin, would allow an adult to live at a "fairly reduced living cost". Nothing is free in life.
I totally get that some people are fine with having their grown kids at home, and vice versa. It's a preference but there is not really a true sense of Independence of being an adult (bills, food etc) when you live up under your parents. There's always this safety net which isn't a real world situation when you live at home lol.
I call these "boomer bombs".
When I boomer decides to rip on everyone who was not as fortunate as them.
just save enough money to buy a house with cash bro even though they double in value every year lol
@@squarecrackerevery 7 to 10 years on average.
The old man made a lot of assumptions in this video. Just because some kids are living at home doesn’t mean they aren’t working and their mom is doing their laundry.
True.
ChubbyBlumpkinz I don’t even do my teenagers laundry.
Hes not saying kids hes saying young adults 20 to 30
True
Facts. The only job that I could manage to find, even with a degree and a high GPA, was with a political action committee. This job requires sitting out in the cold, heat, and rain gathering petitions and helping people register to vote. It pays $15/hr (a little less than $1800 per month), but when you account for health insurance (my premiums tripled), doctor copays, car insurance, car payment, car maintenance and other incidentals student loan payment, cell phone bill, gas, food, very, very little is left for rent money to live in a safe neighborhood.
I live with my parents, but that does not mean that I am not willing to work hard, acquire new skills (I have), and cook and clean for myself. For Dave's information, I, in fact, do my own laundry, buy my own groceries, cook my own food, clean my own living space in the house, and help take care of my ailing grandmother who lives with us. So I don't appreciate the wide assumptions that Dave is making about all adults who are living with their parents because they are "lazy." Sometimes economics contributes to this issue.
Back in Dave's day, people could work part time, buy a car, and pay for college and come out ahead. We're living in a different time.
Zyzzus Christ You can't tell baby boomers anything
Not true. Do you plan to support your children as adults as you also try to save for retirement? I'm just guessing but I'm thinking not on your life!
The little man can’t get ahead.
Not true. My brother works full time, takes college classes at night, pay cash for all of the stuff they own, lives in an apartment he pays for, and can still manage a (sometimes small) social life. I'm also in a similar situation as him. The problem is the millennials who expect the world to give them everything. It's definitely possible folks.. You just have to be different.
It's not just millennial. Some Generation X'ers are the same.
Oh please. Stop using your own children who are employed by their multimillionaire father as an example for the rest of us. They also didn’t have to go into debt for college. Give me a break Dave,
@KCarch25 Unkown "come on Dave give me a break"
"One break...cominnngggg upp"
No one needs debt to learn
Benefits of living at home: Paying my way through college (Almost done & debt free) . Bought a used car and paid it off in 2yrs instead of 5yrs. I pay rent to my parent and all my own bills. Saved 11K for when I move out . You can still learn responsibility by staying at home a little longer , done be fooled . I’m 25. Times have changed according to “my parents”.
As an Asian, I am glad to hear that you helped out your parent financially when you stayed with them. We, Asians, have no issues living with our parents as adults with jobs since we are not freeloaders and take care of our aging parents which are expected of us. Dave's rant and many comments here make it look like all Americans are lazy bums/freeloaders if they still live with their parents. There is always the middle ground and not an either/or.
In Asia this is custom. But in America kinda frowned upon.
In a LOT of countries this is customary. Down the street from us lives an immigrant family from Russia. They live with 4 generations in their household and enlarged the home they bought to accommodate them. It wasn't long before they built an enormous working garage on their property too. Like many Russian immigrants in our area, they work in the automotive field. All working individuals in that household work the family business of repairing and flipping vehicles. They are now millionaires and it didn't take them long. What happens too often with Americans and their boomerang kids though, is definitely not this scenario.
Maybe they're on to something? I mean maybe we should get into doing something like this in America.
Agreed. Im filipino and my parents want me to live with them even if im employed. And personally i dont want to, cause i was frequently deppressed and frustrated around them growing up.
Not that theyre horrible parents.
Yep. They stay put of trouble, save $100k before they are married off at 30...
Yes, this is so true. We Asians are family oriented and we help each other. Kids usually move back into their family homes after graduating from college, they work and contribute to the family household expenses and save their money. They usually move out when they get married and usually are able to purchase a home to start their married life with the money they saved living at home.
Dave is wrong about this. Nothing wrong with living with parents post 25 if they are contributing.
Agreed. I'm 27 and still live at home with my mum, but I contribute as much as I can even though I can't work because I'm disabled.
@@callmecharlottex my parents depend on my finances so its hard to do so
Yep alot of Hispanic families live together and support each other and each carry their own weight.
@@riverdaletales8457 Yeah i have never understood why they do that !!! When you are 18 and graduate from high school it is time to move out and go to college or get a job !!
@@riverdaletales8457 These snowflakes are suppose to be the leaders of the future yet the can't get out of their mothers house !! So sad!!!
Dave, you're out of touch with the average American almost as bad as US senators.
Dan This advice always makes Dave look like an idiot. He’s clueless.
He’s living in the past..now it’s all about greedy! Ppl want money money money!! Can’t live on minimum wage and pay for college..skool cost millions now! After skool u will be in debt! No life there!
He's an American boomer who lived during the most prosperous time in the history of humanity. I'm not shocked Ramsey's opinions are inaccurate here.
Yep. Aian kids stay home until they get married after 30, and have $100k saved up. Their parents want them and make them to ensure better quality of life.
Dan preach
I'm 26. I buy my own food for my mini fridge. Pay my own phone bill, car insurance, gas. I pay gas, electric and water utilities, i do my own laundry and go to school while working 40 hours a week. All while living at my parents house.
Zyzzus Christ so why couldn’t you do that at your own place? If you are doing 90% of why not push to that extra step of freedom?
ahastar, that "extra step" costs waaaaaaay more than your calculated 10%. You've heard what Dave says someone should pay for housing INCLUDING utilities; I think it's no more than 20-25% of your net pay. How many 26 y/o's, or even 36 y/o's, make enough income to do that? Have you checked rental prices???
cyc7lops Im 32. I own a house I own a car and I have a job. Its not hard to do.
Couple questions mustang, since it's so easy to do: How big is your mortgage and how many years? How much do you owe on your car? What kind of work do you do and how much is your annual income? Do you have student loans, and how much do you pay per month for that? Do you pay the recommended 25% for housing PLUS utilities? How much do you put away each month for retirement? How much are your monthly health insurance premiums, and what's your annual OOP max, including deductible? How much do you have in your emergency fund? Do you have 3-6 months of expenses squirreled away? Or are you living paycheck to paycheck, barely able to make ends meet, couldn't come up with your multi-thousand dollar healthcare deductible (EVERY year), have nothing saved, cross your fingers, and hope you don't lose your job bc you know you're one paycheck away from losing your home. And did/do your parents pay for any of this, and did you inherit anything, incl money? Are you living with anyone else who helps pay the bills? That's all for starters, 32.
Nobody said you have to rent an entire apartment. Rent a room even. I pay about 15% of my income while saving up for a down payment. It's not too much money, and I get to be who I want to be. I don't have to be the golden child my parent's expect of me. Being independent is quite a nice change. Oh, I'm 22...
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Fatihu-nq However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@@Christian-3e Oh please I’d love that. Thanks!
@@Fatihu-nq Clementina Abate Russo is her name
Lookup with her name on the webpage.
More than 50% of Americas make less than $30k a year. It's hard to live on your own when companies don't pay livable wage. Dave Ramsay is always out of touch on these subjects.
Now, I do agree that living with roommates, and working multiple jobs DOES allow you to live without the support of your parents. But guess what? That doesn't mean you're living totally independent. Did you get that word I said...roommates? Yeah, if you have roommates, you're still not independent. But that doesn't mean you're immature either.
Livable wage is earned, not given.
If you to earn more money, don't accept a job for under $30k. Or work two or three jobs.
Not the companies' objective to pay you a livable wage. It's the companies' objective to pay you for your SKILL-SET and PRODUCTIVITY. If you have a problem with the housing market, you need to blame the landlords, bankers, and politicians who inflate the cost of living, your employer has nothing to do with that.
R Feinburg 5:09
Don't think there is a problem living with your parents if you are paying your own bills. In some cultures young adults live with their parents until they are married but they still contribute to the household weather it be chores or financial.
Exactly what I want for my kids. When they are ready to get married they will be more than ready financially.
Samuel and Yoyo, this is the BEST way to do it. Let them stay and help out. They will thank you for it.
It worked for me.
oh no. It’s a problem.
Ignorant Rants
Hmm, you're a strange person.
"Not doing them a favour", you're helping them build wealth/get out of student loan debt assuming they are working. In this economy not leaving your parent's home isn't necessarily a sign that you're a "turkey" but rather a sign that housing costs are out of control
The favour you're doing them is called thousands of dollars that neither of you had to work for, assuming the child is saving everything they can and investing it so early on in their life.
@@vampiresRsolame The goal would be to make sure they are being effective with money, if they aren't then they probably need to be kicked out.
@@Lolatyou332 if every child was kick out of their parents house, the homeless population would triple. Very dumb move since you need a roof over you head in order to function and get a job.
Well, in Hawaii, the average house here is $700k+. It’s pretty common to see 3 generations under one roof. And just because they live together doesn’t mean they don’t do their own laundry. 😂
Same here in California
It's called multigenerational living. You all live in one big house.
I love him to come
To Ireland lol 800k + 1 million homes where I I work near by and I wages for a good day is 35k-36k as a nurse - no more and that’s with a deputed . Minimum wage €10.10 an hour : even with degree. No one can buy house unless someone lives at home because a box rented room is now €900-1200
@@zachthefoolie5013 that's just stupid blue voting in cali
Don’t live in Hawaii
I really hate that some people see millennials as either tech savvy entrepreneurs OR lazy losers!! How is there not a middle ground for people?!
Edit: The fact that so many "educated" adults (in the responses below) can STEREOTYPE and show DISDAIN for an ENTIRE GROUP OF PEOPLE continues to help me understand HOW racism and discrimination is still in existence. I hope you're proud of yourselves 👏🏼👏🏼👏🏼👏🏼
Kejuan Lynette as a millennial I’m just tech savvy the older generation hates it
@John Taylor price of living? i mean its not by choice some of us have tried but thanks to greedy land lords we're priced out and are forced to move back home
Milan Labus So that’s why 1/3 still live with their parents? Lol. I’m not criticizing, but I’m not to impressed with millennials so called tech savvy. Some have it, most don’t. To much affirmation and not enough teaching by teachers these days.
John Taylor I think millennials idea of tech savvy is Facebook. ROFL
What if you're both
I say this as a 21 y/o who moved out at 18 and never moved back home, even for a summer in college: I think its rich that you tout your kids for being so independent. Paying their own way. Yeah I wish I could work for daddy's business too. Don't get me wrong, I'm sure they earn their pay, but I wouldn't use them as an example of adult children free from their parents' finances. Don't be a hypocrite, they're just as special as 2/3 of their peers at best.
I work for $15 an hour at a company no one ik works for and I'm cash flowing college lol it doesn't require daddy's money
@@obamahater4205 yeah same. I work a night shift for 18 and I'm doing great on that. Its not impossible. Still pointing out the fact that his kids are not a prime example of how college grads should be when they themselves rely on their parents for support too
@@YandereDay yeah you are 100% right lol I find it ridiculous that he uses his children who's dad is worth 60 million minimum as an example for every day people
Yeah his son runs his rental properties and his daughter has a good gig with his show. I don’t know what his oldest daughter does though
Exactly. Dave kids could get good jobs right away bc he’s Dave Ramsey. His daughter currently works for him and I don’t remember if it’s his son or his daughters husband, one of them I think manage his rental property’s. I’m not jealous and don’t make excuses good for Dave but just pointing out the obvious, his kids were put in a good situation where they could succeed bc their dad is Dave Ramsey. And I don’t think there’s anything wrong with that, as a parent you should want to give your kid the best possible chance to succeed in life, which is what parents who let their adult children live at home for a little while do.
No, Dave. Those statistics do not indicate "hammock." Even when children are living with their parents, it doesn't mean the parents are supporting them. Have you seen the cost of monthly rent these days? Cost of health insurance premiums, plus out-of-pocket costs, such as ANNUAL multi-thousand dollar deductibles, co-pays, co-insurance, uncovered expenses, etc.? Seen a tuition bill lately, even for a state college? Car repair bill? A phone bill? You had it a lot better in your day.
cyc7lops
I agree! I live rent free with my grandparents, its helped me save a lot!
Though I do pay my own car insurance, and phone and gas.
But the rent free helps me out more, of course everyone’s opinions and things differ some.
But if I can save a 100+k in the next few years.
Its all because of them.
And then I can move out once I am stable!
Having people who help support you is a literal life saver.
Dont people understand this? This is how you help your kids have successful lives.
Not throwing them into the street at 18, with no guidance.
I know a teacher age 29 who makes 50,000 a year stayed with parent bill/Rent free to save to pay cash for a house.
I feel they should at least help out with a few bills. It’s the least they could do.
Evan H. I agree with you
Well they're smart. I lived at home until i was 23, went straight into a house i owned. not fully paid for but i saved hard for 2 years and put a nice down payment, helps also i moved into the house and it already had 20k in equity above what I paid for it.
Sheep Dog69 you made it work and now your a home owner ..congratulations 👍🏾
I think dave wouldnt argue with that, that's good money management. But like other comments helping with some bills would also be nice.
Well now since the pandemic, 52% of young adults are living at home. So it is, what it is.
Your argument is ridiculous at this time. Not everyone can buy $250,000 houses at 25.
no, we're talking about shared accommodation, tents, RVs , roommates, not buying property or even having an apartment of one's own at 25.
Actually yes they can it’s called bank credit.
I'm 30 and live in my dad's kitchen behind pieces of cardboard. I'm in debt, my credit is trashed, and I have an eviction. No financial institution will touch me with a 10-foot pole. Not even the loan centers inside Mexican grocery stores will give me a $5k loan to buy an old RV to live in. I'm depressed beyond words and frequently think about killing myself.
Don't buy an expensive house you can't afford. Not every place cost $250k.
@@Network126 You're in debt because you brought more than you can afford. Your credit is trashed because you were never good for the money in the first place. You have an eviction because you stayed in someone's home without paying them for months on end. These past 10 years for you have been one bad decision after another.
Y'know, conservatives USED TO like multi-generational family households.
I'm 25 and finally got a salary (Software Engineer) that allows me to move out of my parent's house.
I move out August 5th and I'm debt free because my parents allowed me to live with them. I'm very grateful and very fortunate to be where I'm at.
It really depends on the situation.
How do you have a gf living in your mommies house at 25? Jesus men these daysZ do they even want to mate?
@@Jimmyg-fg1ph Do you not know how to read? It's August 19th, past August 5th. I'm already moved out.
Reading your past comments, you sound very toxic and unhappy with your life.
I hope all gets better for you man.
I agree with Dave Ramsey on many things but I disagree with him on this. I think he thinks those statistics are full of "failure to launch" type young adults who just want their parents to treat them like their twelve, cook dinner, do laundry and pay all their bills. I think the reality is most of people in multigenerational situations have made the sacrifice of an ego and comfort based sense of independence for a practical "lets all get ahead together" mentality. Most of the people I know living with parents pay half the bills, half the mortgage or rent, cook their own food, do their own laundry, are married have children etc. it's challenging at times but better to not stick granny in a retirement home, better to not work six jobs and miss out on child's childhood, better for older parents to rent out rooms in their large empty nests to people they love and get passive income for retirement. Yeah... it's "weird" but so is financial freedom I thought. 🤷♀️
Mariah Miller well stated. Love the ending to your argument.
@Mariah.
I agree with you. I think he isn't taking into consideration the actively working millennials, and that is very simply being prejudice.
My mom did this when I was a small child. She could have chosen to work 6 jobs to get us an apartment, but instead, she moved in with my grandparents after her divorce. I am beyond beyond beyond grateful. I had already lost my birth parents and I required a lot more in order to bond with a new family. Because we moved in with them, my mom stayed home.
Granted, I think she should have at least worked part time bc she has saved absolutely nothing and now I am taking care of HER. She has no money saved for retirement and she has nowhere to go or live. She is the type of person that this video is talking about because she was not working or paying any bills. She was living there without really contributing.
But, I am happy that my grandparents were able to raise me. I would have ended up orphaned again and in the foster care system if it had not been for them. So so grateful to my grandparents for taking us in and taking over as parents!
Agree.
Mariah Miller
I agree, I live rent free with my grandparents, its helped me save a lot!
Though I do pay my own car insurance, and phone and gas.
But the rent free helps me out more, of course everyone’s opinions and things differ some.
But if I can save a 100+k in the next few years.
Its all because of them.
And then I can move out once I am stable!
Having people who help support you is a literal life saver.
Dont people understand this? This is how you help your kids have successful lives.
Not throwing them into the street at 18, with no guidance.
Ok, this is a stupid argument by Ramsey. If both parties agree to live together and the kid is helping with bills/chores then I don't see the problem. What Dave argued is very counterintuitive when it comes to paying off debt and work-life balance. All the money saved with staying with parents could help those kids to pay off their debt sooner and perhaps not even need a 2nd or 3rd job. I don't see the harm in it, not to mention the kids are helping the parents too by contributing.
I agree! I live rent free with my grandparents, its helped me save a lot!
Though I do pay my own car insurance, and phone and gas.
But the rent free helps me out more, of course everyone’s opinions and things differ some.
But if I can save a 100+k in the next few years.
Its all because of them.
And then I can move out once I am stable!
Having people who help support you is a literal life saver.
Dont people understand this? This is how you help your kids have successful lives.
Not throwing them into the street at 18, with no guidance.
@@XFizzlepop-Berrytwist k. Every kid does take those advantages at staying at. I don't mind if you're trying to save up and make a move. What about the ones that not trying to do anything like you mentioned? What do you do then? Do you take care of them ? While they run the streets.
Rawjan 39
If its clear the kids are not putting in any effort into saving money, working, or helping in any way, then you do have to make that cruel decision to kick them out, sadly some people do need drastic situations to improve for whatever reason.
@@XFizzlepop-Berrytwist true.
I live with my grandma, pay bills and I'm saving for my own house, nothing wrong with that
He specifically mentioned the jobless ones, he's not talking about those who pull their own weight.
@@Mrbfgray I think he was more so referring to individuals in their late 20’s.
How far have you gotten to that then Luis? Because an income of 30-50k a year is enough to buy you that house for sure.
You like myself are in the minority.
Most free load off their parents....
@@homevideosfromnini3975 i don't live in the US, i live in Colombia, i just like Dave Ramsay, so i don't make my money in us dollars, just Colombian pesos, I'm almost there tho
This is a bit too "out of touch boomer" for me.
If by out of touch means not understanding normal then I'm proudly out of touch.
@@plneet3504 he’s talking about the lazy ones that don’t leave after like 6+ years of being able to plan and build wealth.
He just trys to sell financial advice. Hes a scam. Doesnt understand the current world.
I wish my daddy was a millionaire so he could have given me a high paying job right as I was coming into adulthood.
and he probably paid for their college as well, in full!
I want my future kids to have this experience.
yeah and you'd be hooked on drugs and living on the street.
666dynomax what why
Keith Steward some people get lucky or just work in the family business
older people are out of date. Back in the 60's when boomers became young adults America was much different then. Kids were more independent, grew up faster and things were way more accessible. There were also more jobs that are not here anymore or have been eliminated by technology. Younger people today are faced with much more challenges and we are living with our parents not because of laziness but because of financial difficulties. Nobody enjoys living with mom and dad but sometimes it's all you got. We need to get past the mean attitude of ''Throw em out'' or ''What a failure''.
My sister in law is 25 with a degree in electrical engineering, no job, lives at home, not doing anything but playing video games all day and my in laws don’t require anything of her. There’s a large percentage of people out there that won’t do jack if they have the opportunity. These people just don’t have the pride and drive for themselves and they are extremely lazy and will mooch their entire lives if they can, these people do exist and there are a lot of them.
Things were more accesible before the internet was invented!?!?!??!?!?
@@FernandoMartinez-pv1id In decades like the 50s, 60s, 70s outsourcing wasnt as common and technology that eliminated jobs wasnt so common.
Hey Dave, remember all of those student loans you keep hearing about? Why do you think this current generation has to still live at home? Not everyone is as “blessed“ as you may think they are.
Exactly, Dave is soo out of touch with this one. He talks about his kids moving out. They work for your company earning a high wage. And they have no kind of debt.
Good try, but if you listen to Dave, he would say to not take a loan. Don't borrow money. Taking a loan (stupid) so that you end up living with your parents (stupid) while you get a stupid degree.... God is wise in his timing, blessing us when we are ready so that we don't waste it
My mum died when I was 13. I've been paying my way since I was 14 and 9 months. Old enough to get on an independent payment from the government. I've been paying rent since that day. I've got to say, if I had parents I would have loved to have stayed at home, to have support and love. Maybe some of those people have great relationships with their family too? We live in a time now where love and support is encouraged. I'd give anything to have had that. I'm proud of who I am and what I've done with my life but I wish it had been an easier one, just to have some of the pressure off. I'm 33 now by the way.
Correct, I think he's so one track minded inthis issue. I think it's an American cultural difference e
This rant is applicable in VERY FEW situations. My 26 year old sister is living with our parents, rent and bill free, and acting like the whole world is working against her. So yes, this rant applies to her. My 23 year old boyfriend is living with his parents, running his own landscaping business, and investing all his money in the business’s growth and savings for our future place. And this rant would be downright insulting to him.
Yep, I agree. This is a whole different generation, it's not as easy as it used to be back in the 50s-90s...
I'm also in a similar situation, I'm 24 and I still have around 17k in student loans (Which I'm calmly paying off), I have around 50k on my bank with just two years of working as an engineer and have a salary that just keeps going up plus an online business.
@@baskeplaye009How are you doing paying off your student loan(s)?
@@4862cjc Great but I have slacked off a bit due to the halt in payments. I wrote that comment a few years ago and my salary is now well over the 6 digit mark (My salary was around 40k-70k when I wrote that comment) And now I live in an apartment just outside a major city.
I still haven't paid it all though. But my comment still stands. This is a different generation and it's much much harder for us younger folks.
Exactly!
I usually agree with Dave but this is a simple-minded way of looking at the situation. Dave is all about building wealth and avoiding debt like the plague and yet, he is advocating for young folks saddled with $30-100K of student debt and entry level jobs (if lucky) that pay $30-40K to go out and essentially waste money on rent, bills etc... when they could be aggressively paying off their debt and building a down-payment while living at home a little longer.
At the end of the day, it doesn't matter what other people think, you have to do what's right for you.
The problem is the best job u think u can get is an entry level low paying job. Y'all even say that's the best y'all can do. This generation has such low self esteem and loser mentality, I'm glad I'm not like alot of millennials in my age range.
And don't say I don't understand because of "back in the day" because I'm a millennial myself. I turn 34 this December. But alot (not all) millennials are crybaby underachievers who make excuses and are scared to climb up in the world.
The typical “back in my day” “baby boomer” meme is in full gear in this video
"Back in my day.....", I'm tired of this phrase lol
Yo Ma It’s the truth. Just because you haven’t experience it doesn’t mean it doesn’t exist
Haha. Yeah l actually hate the whole OK boomer thing because I find it disrespectful, but I think it applies here.
@Yo Ma spoken from a place of privilege.
@@edgehodl4832 Yep...boomers need to chill. "Back in my day" is over, out, done. Those days are long gone and they aren't coming back.
I was raised differently.
My parents did not kick me out at 18 like most American families. Instead they
encouraged me to work hard & contribute. When I saved 20% down payment, I
bought my first home but later my father convinced me to convert it to a rental
and move back in since I was not married, and I did not have any kids. Best
decision ever because I am not even 40 yet and I own a beautiful home clear and
free and if I wanted to, I could buy my dream car with Cash. Thanks Mom &
Dad.
beautiful!
I dont agree here. I'm 23 and was in a situation at home where my parents are very unstable. I absolutely had to at 18, move out, get my own place, pay my own bills and care for my self. I know people my age who are years ahead of me financially because they have been afforded the chance to live at home rent free, with no bills which has given them the opportunity to save more money up, have nicer things (such as cars, houses etc) where I spent my money on a $5000 car and have to pay for a place to live. Others my age have brand new paid off vehicles, purchasing their first homes or just simply have enough in savings that if they wanted to buy one they could start. Living at home as a young adult, assuming you're at least somewhat responsible is a blessing and puts these kids farther ahead than others their age.
I’m sorry to hear that, hopefully you are doing better now!
Right there with you, mate. I was homeless from 16-23, I'm 29 now and still have nothing but at least I have a direction to go towards college. My peers who will be living with their family during school will graduate in a significantly better financial position than I will. It's not even a choice for most, if you have access to family you live with them post highschool because you can't afford to do anything else.
Ree Maines
Honestly its really only US that pushes this idea of moving out at 18 with practically no life skills or support.
Most countries, All of Asia, and South America especially, parts of Europe, people stay at home well into their 20’s or 30’s.
Yea but you will be able to dig deep when you need to and climb out of ANY hole you may end up in. They may not. And you have your whole life to pass them up. Id rather be you than them. Im 36 and had a nearly identical adulthood.
@@natas0733 kids who depended on their parents for too long may continue to do so even after the marry and have kids. They may keep running back to ask for money in times of "emergencies" like my aunt does
I’m 36 and still living at home. I do have severe anxiety and honestly would not make it on my own. I pay for groceries, my own vehicle and insurance, I do ALL the cleaning, have painted different rooms in the house. I fully understand that they are letting me live here out of the kindness of their hearts but it is NOT a free ride. I feel very dignified as an adult. Everyone’s situation is different ❤️
this isn't the 1950s
You're right. It's better. Idiots just don't know how to use all this great stuff.
In Latin culture is different we usually move out once we are married but in the meantime we are old enough to work we help our parents/s with rent and chores, it is normal to see 30 year olds with mom and dad but we are being productive, this is specially so with Latin women. Not saying all Latinos follow this but a vast majority do and I love having being raised like that .
Super true Manuel, and if for some reason your 30 with a home and your parents are older and don’t have a place, they usually stay in your house
I mean sure it may work if you have decent parents that respect you. Try living with an overbearing parent who is always judging everything you do and when you do go on a date saying "You are spending to much time with him/her." Also I want my kids to be successful that's why I'll equip them with the knowledge they need but I'm not supporting them far into adulthood.
A lot of Hispanics who still live at home have spouses and kids. It seems like the homes are crowded with a lot of kids. I guess it is o.k. to have a family of your own while living with your parents.
Devin Kipp I agree it depends on your parents as well some are lucky with good ones and some not so much . I’m not saying all adults should stay at home and live with their parents , but if you have loving parents or parent I don’t see the rush at moving out so fast , unless of course you are in a bad and possibly dangerous household. But In the past my non Hispanic friends for some reason always moved out as soon as they hit 18 like they were in a rush and it for the most part always had a bad outcome . Not to say it will be the case for all but our Latin culture is just a bit different, we don’t necessarily feel the rush to move out immediately when we hit 18.
@ damien Smith it all depends if they are possibly saving up for a home or an apartment. Maybe they lost their jobs . But I agree some ppl will take advantage , but for the most part I don’t see a problem as long as you are being productive and are trying to eventually get your own home. now if your with your parents and just mooching off them than that’s a whole different story.
This is ridiculous. I lived with my mom until I was 27. The whole time I was either working, going to school or both. I bought my house and moved out. We had a great relationship the whole time. Now I'm completely debt free and well on my way to becoming a millionaire. What exactly is wrong with that? Saying young adults need to move out is the same as saying all people need to go to college.
Mike Tyson once said that "Everybody has a plan until they get punched in the mouth" The only problem with these scenarios is that they are assuming that Life will be steady until we are Ready. No close family member will die, parents will not have serious health problems etc. My wife had to go back to Brazil for health reasons, meaning I had to handle the house by myself. Then my 99yr old father started asking for me during his last years and I had to move to New England to take care of him and his property. My 20yr. old in the meantime was just having a good relationship, going to school etc. . She had one week to move out so I could sell the house. My wife came up from Brazil and helped her find a one bedroom basement apartment in a week. Life is not still water. Stuff happens and the more prepared you are to actually manage life and be on your own, then ride the bench, the better you will be able to handle it.😎
Young adults living with their parents is fine as long as they have some kind of plan or vision for getting out on their own at some point.
“Vision”??? This aint an essay
They don’t have to get out on their own. Where did you get that idea from?
And if they still choose to stay with their parents, then there’s nothing wrong with that either.
@@Cpix38 Yes there is its so sad
Bringing your date to your mom's basement is very,very,very SAD just having to tell an adult that you live with your parents is ridiculous,
Your mentality is part of the issue. "They worked 6 jobs to pay off their debt!" ....You think that's the way things should be? I understand that those who adapt and overcome will succeed regardless by "working 6 jobs", etc. However, don't you think there's a problem with our society as a whole when one has to work 50-60+ hours per week just to make ends meet and live debt free? European countries look at our country's job/work situation as barbaric with the insane amount of hours we're expected to work.
Marco Mejia he is referring to a temporary period when you pay off the debt that you are responsible for. Not for the rest of your life.
I see your point Marco.
Dave Ramsey encourages people to get out of debt THEN save for at least a 6 month emergency fund THEN save for at least a 20% down payment, but frowns upon millennials living at home? WHERE should they live while attempting to get out of debt and save this money, with 62 roommates?! SMH. I respect a lot of his advice/experiences, but this I am against. All millennials aren't lazy participation trophy recipients.
Solution: AFFORDABLE HOUSING for those living at or below the medium household income (of one's area)
Even then that kind of "temporary" period could have severe consequences down the line, in terms of health. In a country where the health care is what it is, I'd certainly not be taking that kind of risks.
Melra Exactly. Don't even get me started on health care. I'm in my final year of medical school in the US and I can't even afford medical insurance (oh, the irony). Shame on me for being a millennial and going to medical school from a poor family.
How things "should be"??? Whiny excuses. That's your problem right there;Just keep wishing for things to be as you THINK they "should be" and you will be in the same situation in 5 years...
I understand where he's coming from. The thing is, he thinks that a good majority of us are lazy and not wanting to work. The reality is that many of us work 2-3 jobs trying to pay off their debt. He is speaking from his perspective of HIS OWN community. There is also a factor he is not thinking of, they don't pay us similar wages as they did back then, good jobs are being cut down and replaced with fast food jobs, the cost of college tuition is rising every year, and rent goes up every year while wages stay stagnant.
It's hard out here.
.... Sounds like a pity party lol
Dont go to college if you dream of working at mcdonalds
It's so sad that someone giving financial advice is so out of touch with current conditions ☹️
bs most kids dont leave their place because they are codependent. I know dudes who reject job contracts at 30 still living with their parents. because they are afraid of giving 1/4 of their income to a rent. they mommys still clean their rooms and do their groceries. bunch of child man everywhere. genz is gonna be even worse.
@@bubbaemmanuelle6761then do the work of 2 people
yeah dave ramsey isn't really known to have good social awareness or intelligence. He's just good with money
I was out at 16
Whats wrong with you morons
I’m not sure what is so unrealistic. He said after 25. If you support your kid through college for a 4 year degree into a decent field, that would still give them a couple years with mom and dad to save up and move out. That’s completely reasonable.
I am 32 and make 280,000 a year. And I live with my parents they have a 6000 sqft house and don’t charge me rent and pay for the food. I have been investing my money and saving it. I have no reason to move just to move, the moment you let someone else tell you what it means to be a man that’s when you aren’t a man.
Ok, if you’re making THAT much money and you’re not paying a dime to your parents?
@@TA-kv3nm maybe they're well off and don't need it
that much money, no rent, still living at home? Sure it can be a smart move but at your big age it just sounds like codependency
Moved out at 20 years old and it was very difficult but I don't regret it one bit. I grew so much as a person and I'm definitely more knowledgeable and responsible than a ton of people my age. 🙌🏼
Love this. Same boat with ya brother
Dave is out of touch. Jobs require masters degrees and pay $20/hr while rent everywhere is $1500/month and houses are half a million in a cheap city.
Dave is genuinely stupid.
I lived at home until I was 27. Paid room and board. When I left home, I had a big down payment on a home I paid off in 11 1/2 years.
He is so out of touch with reality. He doesn't realize how difficult it is for normal people nowadays. Half of America makes less than 30,000 dollars a year.
Exactly good plan same as I’m gonna do basically
@@ajee5239 yep
Nah, I’ll take the $1500 instead of rent and give it to my mom
@Massiel Portorreal not even help with bills, parents shouldn't need their kids to help with bills,the kids could just do chores to learn how to function as an adult and save all their money for a house
Living with parents allows you to save almost all of your money
Mama’s boy. 💀 Do that when you’re a teen. Btw your mom shouldnt be getting paid to be your MOTHER. Byee lol
@@homevideosfromnini3975 seethe
Exactly! Why give it to a stranger when I can give it to the woman who raised me?
It must be nice to grow up with a financial guru for a father and millions in the bank.
His kids must have really sacrificed 🙄🙄
😂😂
He became a money smart financial”guru” after he dug himself out of a deep hole of
Bankruptcy. Clawed his way out debt.
He paid off every bill. He and his young family didn’t
Eat Fast food. They ate hotdogs and beans.
@@dppaulson6146 or he could have stayed with his parents, not go into debt and still become a financial guru without too much risks. Getting out of ur house at 18 doesn't always equate better future.
@@adityaneer he could’ve but he made those mistakes already, hence why he’s here telling you not too, there’s no better teacher than life and that’s a fact
@@Naxatthedoor There is no worser teacher than life actually. The best teachers are the people around u and News. People just choose to ignore them. Also, staying with ur parents is the reason why most Asian cultures have reached greater heights in the USA
Dave doesn't take into account that adults living at home may be a cultural thing as well. Not everyone is part of a WASP family from the south.
@@OSRSBrachydios my apologies
That is normal in Hispanic culture.
Very normal in African culture as well. All cultures are different.
Normal in Asian and Arab cultures too. Honestly, only the West is different.
Same here in the philippines and asia in general
Theres this thing about the children having to take care of the parents once theyre old. And it is much easier to take care of them if youre in the same house.
Milla Diaz This is normal in Easter Europe. Sometimes you can find 4 generation family. Husband and wife (20-40s years old) go to work and 50-60s years old woman take care about grandkids, her olderly parents and house. My mother and grandmother on vacation for 3 weeks now, and it so hard find family and work balance at this time.
American culture is wrong economics. I am Asian and have seen and lived both worlds. If you live in your parents home and help your parents by shouldering the water and electric bill it’s a win-win situation. I own my own house now free and clear, have a college degree student loan free with over $100K investment in blue chip stock earning passive income the only thing I did is I lived in my mom’s basement until I have enough cash to buy a house debt free. Wise economics is utilizing your resources to a 100%. As long as your parents didn’t drive you out in my opinion it’s ok to live in their house. Rather than crippling yourself in debt just to have that “American dignity” of independence
I never knew I could agree and disagree at the same time
Dave has a way of doing that i noticed, It's actually quite amazing lol
^^^THIS is the most accurate statement. There is a healthy balance that can be achieved with a responsible child/parent dynamic at home BUT most people don’t achieve it.
Preach! 👏🏼
No person should live in their parents house when they are 25 or older.
There’s a serious cultural bias Dave has here.
Its regional really in tennesee if you cant afford a house your broke. You can buy a house for like 50 bucks and a bag of chew
Neiman Paul John is a troll bruh don’t listen to him
Why is it that people think living at home means your mother does your laundry, buys your groceries, and you don't have a good job?
None of that is a problem because living off others allows for the underemployed to survive.
It doesn't Dave's view is skewed and the assumptions are false and goes against the general population statistics. Statistics speaks much louder than Dave's boomer's uncaring opinions.
Better living a your parents house at age 30+ then being into debt by $ 300k+
Or homeless
Amen!
Better to just not go 300k in debt. Seriously, 300,000 dollars?! You've lost your mind.
@@colin1818 it's called a house
@@vampiresRsolame mortgage isnt bad debt. Even though a house is a liability, the asset it's attached to is relatively liquid, unlike credit card/student loan etc.
I'm 21 y/o and i still live with my parents. I don't plan on moving out in the next 1-2 years until i have my college degree and i got a fulltime job that's not washing dishes for 10$ per hour. Right now i work 20-30 hours per week AND i'm still pursuing my degree. I live with my parents not because i want to, but because i don't want to go into debt so i can pay for my own rent and pay for my own food. I don't call that being a lazy immature young adult, i would consider that being financially responsible and being patient. I don't want to move out until i can actually affort moving out.
This is not only horrible personal advice, but it's horrible financial advice. An adult who lives with parents can pay household expenses, provide transportation, do laundry for their parents, grocery shop for their parents, and provide free elder care. If family doesn't do this for aging parents, it has to be hired at great expense. I lived with my widowed, disabled mother for many years and did all these things that she needed. This idea that "kids need to get out" just makes a family pay for two residences, two heating bills, two property taxes, etc - when they could share one and have a lot more money.
I like his advice on many things but he’s severely out of touch. The cost of living is DRASTICALLY different than the 1970s. Get a clue, Dave.
"I don't hate millennials, I have a millennial friend"
I feel like I’ve head that before
I’m staying with my parents until 27-28, will have all my debt paid off, great emergency fund, and have about $50k invested, being smart and living with your parents is a W
So true!
This. Not all people who live with their parents are irresponsible. Back when I lived with my parents, since a teenager, I did all my own cleaning, laundry and errands. My parents never did any of that for me. And I've been cooking for myself since age 12. And after I graduated high school, I worked full-time and saved the majority of the money.
Investment in psychology and spiritual growth vs financial growth. Life is not all about collecting beans and numbers. In fact the former will help accelerate the latter.
FTW that is awesome! :) Keep doing that and you would be able to save for a house and retirement!
Dave is wrong on this, and the entire comment section knows it lol
The entire Comment Section came to him for advice so something tells me they don't know all that much........
@@FernandoMartinez-pv1id dave isn’t an all knowing being that knows and correct about everything. Plenty of times the comment section disagrees with his takes.
@@boopdeeb9444 plenty of people in financial distress.
@@FernandoMartinez-pv1id but I and many others my age have just accepted that we won't get the same privileges granted to older generations, and that's why this is undoubtedly the most financial engaged and educated generation ever.
I am 26 and my fiance is 24. Our parents graciously let us live at home for free while we finished school. We will be debt free and will be financially set for years to come. So just depends on the situation, I am sure some of those 25 years are slackers. Also we will be moving out this year haha!
John R Name calling nice argument!
I agree with what you have to say. You can skip all the steps with Dave Ramsey and be able to save so much more then wasting money on an apartment for rent.
Limewir3 - Don't worry about people who are jealous about your situation. I can be honest enough to envy your situation without name calling. Go forth and enjoy life.
battousai07 Lol, jealous? I’d rather be saving money and buying a house sooner then those who wants to live in an apartment all their lives.
@Henry - I didn't say you were. It's not a bad deal to do that.
In Asian culture, it's the norm that kids live with their parents even when they graduate school and land full time jobs. Imo, as long as they are in school, or working full time, there is nothing wrong with living with your parents
It is just a different mindset. Americans and a lot of Westerners value their independence and freedom more. As an Asian, I agree with you, even though our culture of staying with our parents is frowned upon by Americans and Westerners. And we are not even lazy bums if we do so.
How long did you live with your parents?
Wages aren't keeping up with cost of living, boomer.
Facts!
Thank you.
True.
But I guess Dave's point is to those guys who are unemployed and are in their late 20s.
In my country a simple apartment rent in a normal city is around 400-600€
The minimum wage is 640€. We have some of the most expensive water and gas prices in Europe.
Im 24, I earn more than the minimum wage. If I were to get out I would probably not be able to eat lol. i could pay the bills and my car (but wouldnt be able to pay for insurance either, or gas).
Its easy to talk for some.
@@pedrosilvaproductions I'm 23 and I earn nothing. What's your secret?
Then move to someplace that isn't on the East or West Coast and swallow your arrogant pride, Millennial.
Try living as a 20 something male in southern California with a bachelor's degree, making $12 an hour full time, and an $11 an hour part time job. U dont have health insurance, you dont get gov. aid. Even with a roomate, u cant make a living
He's too far disconnected on his high horse
The problem is where you live. You should fight tooth and nail to move, California is over populated and therefor, too expensive.
mastersfan04 Florida is better!
Work for wells Fargo, I think it's 20 an hour in Cali with health vision dental 6% 401k match PTO tuition reimbursement etc. Not a bad company to work for if you ask me
What they don't want to talk about is that there are so many people who are older that can't afford to live on their own either. It's not just young people. There are people who are middle-aged and they get laid off from a job and no one wants to hire older people so they can't afford anything. Or medical bills drown them. They might lose their home to a contractor who is planning to build a mall or something in its place and they can't afford the new market. No one ever talks about this. It's always young people
Hes stuck in the past i work 80 hours and still cant afford a decent apt with food while paying for school in nyc
alexguy96 find a job in a restaurant as a busboy or a waiter even. great money and probably don’t even have to work more than 40 hours to make a good weekly pay
Can't afford? Well then start budgeting kid.
Agree with you. Dave Ramsey has no clue.
Move to a place where rent, food and school are cheaper.
collage? haha
Unfortunately cost of living is not what it use to be when millennials parents were growing up. Yes their wages were less but everything else was way more affordable than in 2018. Even a 4 year university was affordable in the 80s when my dad was in college. I left my parents house at 18 but the only way I was able to survive without my parents help and go to college without their help is moving to a different state. It was not possible to live in Orange County, CA at 18 on my own and go to school. So I moved to a different state and it all worked out :)
Diane Cajal
I agree! Again, Dave Ramsey encourages people to get out of debt THEN save for at least a 6 month emergency fund THEN save for at least a 20% down payment, but frowns upon millennials living at home? Soooo the alternative is work 3 jobs and/or have 6 roommates until you accomplish these things? SMH. I respect a lot of his advice/experiences, but this I am against. I see no issue with millennials staying at home until they at least complete baby step 2!!!! All millennials are NOT eating chips on the couch watching reruns of Scandal and Game of Thrones!!!
Diane Cajal
The issue is people are going to colleges they can't afford or picking worthless degrees. Go to a community college, transfer to a university later and your already in much better shape. To many people go to a fancy college straight out of high school and pursue a degree that won't make money or they change their minds every 10 seconds. Go to college or a trade school when you know what you want to do. Don't go to college just because you were told to. So many of my co-workers have 28k or more of college debt and it amounted to nothing
Just curious, what state did you go to? I live in Michigan, & am about to move to Virginia. Michigan has a very affordable cost of living, Virginia will cost more. But I am hoping that the field I work in pays more in Virginia as well. Plus, there is far more jobs to choose from in Virginia.
Not every parent is happily married and financially set like Dave. There's a lot of parent - child sharing a home equally!
Are you really this clueless? What makes you think all these baby boomer parents don't need "room mates" to afford housing too? A lot of people are feeling the heat right now.
While watching the video, I was like: "Well said, Dave Ramsey!"
But after reading the comment section, I'm glad I did read them, because the people are very reasonable and smart enough to explain that not all young adults are lazy just bc they are living with their parents.
I think Dave Ramsey was referring to people who are really lazy, not working, just playing video games or doing pretty much nothing, eating what mom cooks, not cleaning his dishes or laundry, etc.
I think Dave Ramsey's rhetoric will improve over time, being careful with his words, being careful enough not to sound too generalizing. I think this is what I LOVE about RUclips - you not only cat get amazing lessons from successful people, but also acquire critical & balanced understanding by reading the comment section with agreeing & disagreeing people. So much to learn!
Winnie 위니
I live rent free with my grandparents, its helped me save a lot!
Though I do pay my own car insurance, and phone and gas.
But the rent free helps me out more, of course everyone’s opinions and things differ some.
But if I can save a 100+k in the next few years.
Its all because of them.
And then I can move out once I am stable!
Having people who help support you is a literal life saver.
Dont people understand this? This is how you help your kids have successful lives.
Not throwing them into the street at 18, with no guidance.
Winnie 위니
I dont think Dave is going to change the way he words things.
XD
I also dont think he is referring to lazy, entitled people only.
I think he fully means that if you are 25+ you should be on your own.
Well said.
Best thing my dad did for me was let me live in his basement . I bought a house at 25 , rented it out and stayed at my dads house , bought a 2nd house at 28 and moved into . i will return the favour to my kids.
Your dad is a smart guy.
31...lived with parents until I was 29...then I bought my own house and asked them to live with me rent free rather than them paying rent to someone.
my brother did the same ....stayed home throughout his 20s and bought a nice crib at 29 , i think its pretty smart
I took the same route
Living with your parents does not equal being lazy and lacking a job
@Roy_Thousand So for you, staying with parents automatically means someone is jobless and lazy even when you have a job and helping your parents financially and also helping with the household chores. Well, we Asians do this all the time but we earn a living, help pay the bills, help with the chores and even take care of our parents when they are old, whether we are single or married. And those actions are not what a kid would do but what responsible adults do. So I agree with the OP that living with your parents does not equal being lazy and lacking a job. Well, not all the time.
I'm 29, still live with my parents...but I'm a nursing student (went back to school at 26 since working in retail doesn't cut it), great credit, no debt. My lpn program is paid in full by pell grants. Obviously if you're doing nothing with your life and make your parents miserable that's a different story. But I am so thankful my parents let me breath a little and take a step back in my 20s to really figure out what I wanted to so with my life. Don't get me wrong, no woman wants to date a man who's 29 and live with his parents...but you shouldn't care. My priority is finishing nursing school and spending my 30s traveling the United States as a travel nurse. Life is good.
I’m in a situation where my father passed away and my mother and I got an apartment together. We each split the bills and it works out great for us both. I save money and my mom saves money.
So sorry about your father! I respect and admire you for stepping in and helping your mom. I have a similar situation, where my mom came to live with me bc she couldn't live at her parent's anymore. At first, I was the provider, but now we are splitting the bills. What I don't understand is why people see this as any different from having a roomate? My sister and I were seperated through adoption... but if I had a sister and she was my roomate, would there still be judgement? Why do I have to go look for a stranger to share a room with instead of my mom?
@@cristyscottage6711 Exactly
But 1/3 of people dont experience that