Can you start this if you’re 34? Kind of late to the game or nah?

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Heck yeah you can, OP !! Never too late.

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Single. No kids. Been living at home this whole time (and no that’s not why I’m single). Been saving to move out and buy but now I’m thinking rental would be better. No debt. Paid my loans off a while ago. Just got into consulting late in life

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Woman*

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Well it’s been difficult. The TLDR version is that I always have my own hobbies, activities and friends so I have my own time. It was hard at first but now it’s is difficult because I’m just a different adult than my parents were I try to travel when I can to get away. But I am at home so I help out when I can. Helps to have sibling nearby.

Here’s the long version...In college I did live in a dorm but it was so close to home eventually moved back. From 22-23 I worked in a low paying industry and couldn’t afford rent ($35k a year).

I went to grad school locally to get out of low paying gig and earn new skills and took on tutoring, writing, and then an internship while in grad school ($26/hr). At any given point I had 2-3 jobs. So basically I was home to sleep and eat.

Did that till I graduated. When I started working after graduating I took the first job I could find ($60k) and commuted 45 miles to work each way. Treated myself to a decent car. Got to 6 month mark at this job I hated and was downsized. Took unemployment. Used unemployment to pay loans. Lived at home. I’m 26/27 here.

Found new job and had been out of work for awhile with little work experience so reluctantly took a contract role ($22/hr). Again. Couldn’t logically afford rent AND pay loans so I lived at home. Kept job searching. Had a big upset relationship wise and broke up w a serious bf. Finally found a new job. Funny how that worked out.

Broke into consulting with this new job and learned new skills. It was very start-up but the pay was decent ($75k). Did this for 2 years till I started to get bored and eventually looked at larger firms. Got approached by PwC. Applied to a few different practices. Got in as an exp hire to my dismay but still got a pay bump.

I travel weekly for PwC and that’s helped too because when I am away it’s like I moved. Not going to lie I really felt my folks aged right before my eyes since I travel a lot. But this role doesn’t seem like the best fit and I am quite sure I can make more elsewhere so I’m looking to move companies.

More money would also help the move and give me the space I need.

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Jesus dude, know way too much about you now

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Wow that’s a long time to be living at home and not having a housing cost. I’d say you’re in better shape than most 34 year olds. But, how were you able to tolerate that if you don’t mind me asking?

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We all have our stories, I hope it felt good recalling it. Good luck to you OP, you seem like an honest hardworking person!

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Nice story OP. You’re definitely not afraid of hard work and it sounds like you don’t feel a need to keep up with the Joneses so you should do just fine!

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I started at 35. I’m so behind but based on my current savings rate and debt payments I can be financially free in 8 years. Posssibly throwing the peace sign to consulting by the time I’m 43 doesn’t sound too bad.

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For what it's worth, there is a growing school of thought that finding an inexpensive rental is better for tracking consistent spending and saving more $ because you don't have to worry about the unknown expenses/repairs. I didn't want to keep popping into this thread just to post links, so look up Millennial Revolution.: Buy Your Freedom, Rent the Rest (if you're interested).

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Income? Kids? Savings? Never too late to start saving, though you may need to work till 65+ if the #s don’t work

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You can do it at 34, you can potentially retire by 49 if you save 60% of your income

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PwC 2 what’s your current savings rate?

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Sorry, seems like you are in a good position!

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Hah yea I got a little nostalgic

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This is the key paragraph:

The most important thing to note is that cutting your spending rate is much more powerful than increasing your income. The reason is that every permanent drop in your spending has a double effect:

it increases the amount of money you have left over to save each month
and it permanently decreases the amount you’ll need every month for the rest of your life
——-
In this, figuring out how to live without paying rent or mortgage would be ideal. I’ve been searching for duplex homes Bc of this

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Slalom1 been reading the links you provide. The cheapest rent in my area without a roommate that I would consider is $1300/month for a 1bd not including utilities etc. How does that compare to y’all? S

$1630 when all costs included (internet, gas, electric etc.), splitting with wife. 1 bedroom / 1 bathroom in Lakeview Chicago

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