I'm 24, make $130k salary and still live with my parents, and don't have a car. Aka my social life is in shambles.

I am reluctant to find a car and move out into my own apartment until the car market, economy, and stock market (all my NW is in stocks atm) is moving in a positive direction. Currently using all my paychecks to deploy into VOO, QQQ, and VGT evenly to capture this market opportunity as things are bleeding.

Am I immature, too extreme, not doing what's best for me? What would u do?

likefunnyhelpful
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Too extreme, learn to find balance between saving and enjoying life. Your young now and able to do more things in life, it’s great to save, but when your old you’ll be limited to what you can do. Also what if you get injured or die before you can enjoy the money you’ve saved.

likesmart

Look at all of this bad advice telling him to move out and basically tank his savings. Everybody that I knew that moved out in their early 20s sorely regrets it now that they’re struggling to save for a house in their late 20s or 30s. Meanwhile everyone I know who saved and invested while living at home is loaded now and beyond grateful they didn’t make the mistake of moving out to fit in with the crowd.

likefunnysmartupliftinghelpful

It’s not fear of parents. Some of us have parents that don’t live where the opportunities are or enjoy the freedom to do things at our own pace.

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Move out of your parents house.

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Terrible advice. I live with my parents and am never leaving. Retired my mom and about to retire my dad. No place like home!

I was similar to you a few years ago. Then I turned 25 right before all the COVID lockdowns began and realized how quickly life can change and what you assume will always be there might not be. Spent two years of my mid twenties mostly alone in my room not knowing when things would be back to normal and I could travel, see family, etc. again.

I’m 27 now and I still save and invest a fair chunk but also enjoy life a lot more now. Got a Tesla bc I’ve always wanted one. Spend more on clothes and skincare bc I wanna look my best in my prime. Take weekly tennis lessons bc I love the sport and wanna get better. Gotta find that balance between financial stability and the point of having money to have a good life.

likesmart

None of things will ever be "the right time". You'll only be 24 once. Move out and live your life. If you need a car, get one. Don't sacrifice so much at a young age. You have to live a little.

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Immature and extreme. Not everything in life needs be calculated risks. You make 130k, that is A LOT

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You also don’t think it’s a lot because you’re also not budgeting for your life when you move out from your parents. So long as your debts are paid off, starting with a clean slate at 24 with 130k? Love to see it.

You should be going all in on crypto. Don’t waste your money with stocks lol

funnylike

Oh wtf ever. If all you crypto people were so smart or dedicated you’d all be rich by now.

likesmart

Your life is in shambles? Is this a flex?

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likefunny

Already said here, but buy a cheap car if you need to move around. Go on some trips and live a little. The best time to travel is when you’re young. You’ll make the money back, but you’ll never get your 20s back.

like

Absolutely true!!

I’m the same age as you. I didn’t want to rent long term and living with my parents wasn’t an option but I would have done it for a few years if I could. You’re making more than enough. Consider investing in a home for yourself. Maybe rent out a few bedrooms to help with mortgage or PMI if you can’t/don’t want to put 20% down. If you’re gonna stay where you are for 5 years, it makes sense. Now it’s not possible to do this in all markets but if you can, I would.

I enjoy my work so much more because I have the freedoms I do. Totally miss having my mom just randomly cook me meals or randomly do my laundry like she did when I was in HS but you gotta fly the coop.

likesmart

(Also- I did. I bought a condo)

likehelpful

When you ask people on their death bed what they regret in their life, they never say “I wish I lived with my parents more to pile up cash. I wished I made more money”.

Get your own place to live, go out, make friends, live life! It doesn’t have to be expensive unless you make it that way.

Life is not about money, you won’t take it with you anyway.

likefunnyhelpful

Lol I make about $110k in a low cost of living area and live with my parents although I do have a car. Your social life doesn’t have to be in shambles

like

Stay home for another 3-4 years but find an outlet for a social life. When you are ready to move our you should have a nice down payment on your own place and will be way more comfortable. You have plenty of time to ‘live your life.’

likefunny

Is there a reason you're so wildly over weighted in tech stocks? QQQ and VGT are both tech ETFs, VOO is SP500 but big players right now are tech. You're essentially tripling down on the one sector, meaning your risk is really concentrated and the benefits of having multiple ETFs is really reduced.

Not saying sell anything, but you might want to diversify a bit. Since you're already so top heavy, look for Value stocks (any cap) and mid and small cap stocks.

Outside of that. Make sure you have cash too, I wouldn't bet too hard on super low interest on cheap cars coming back for a LONG time, and housing will be a bear, so make sure you're aiming high for that down payment.

But yeah, that equity split is not so much a split as three darts in the same spot, which is a huge risk so curious why you took it

likeupliftingsmart

Not a question of sustain A3 so much as it is "will it still be most of the economy". Right now there is so much money in tech stocks where their market cap (based on expected future value). This means that these shares are overweight, or with more than they're actually adding to economy.

If you're invested in a tech ETF, and people sell out of those companies because they're investing in finance or something else, your value goes down. If tech continues to be driver your value goes up.

If you invest in something like VOO, you're just investing in the top 500 companies, no matter what they are. So if it's tech, you'll be invested in tech and see growth (maybe not *as big* as a tech ETF, but still good). But if the market cap for tech cools and becomes more aligned with their actual revenue and other companies become the top tier, you'll now own those shares instead so your holdings should grow, assuming the economy continues to grow.

(If the economy fails you'd lose money in both scenarios, but as tech is so overweight you'd likely lose more there)

Broad ETFs limit risk by tying you to the market, not a specific sector. Remember, most hedge funds can't beat a market ETF long term because of this. Something like VOO/VTI is almost never the top performer, but it performs consistently over time

Keep stacking but buy a dang HONDA you make 130k

likesmart

Nah get a 4Runner. It’s an ~investment vehicle~ and it’ll look way cooler than a Honda

Get a car. Stay home

like

Too extreme. Move out and experience life’s adventures!

like

Too extreme, but effin great job! I’m 37 and just NOW started making 115k from 38k-51k; living at home (Austin, TX). Putting in an offer on a house, so I can move myself and my little one out of my parents house.

I’m not making myself look like a complete failure on here for you to NOT live your life. 🤣😂🤣

If you want to feel responsible, buy some property. It’s never a good time to spend huge amounts of money IMO. It always feels like “not right now”. However, time waits for no one. You’re only young once. Travel, have fun, do things you think you need to wait to do. LIVE!!! If I could do it all over again, I would travel. I was always broke anyways. I should have more documented memories than I do.

like

You’re doing great.

like

How so?

funnylike

Everyone telling you that you’ll never get your 20s back is trying to justify their own lifestyle. You’re doing the right thing on so many levels. Spending quality time with your parents is soo important and you’re lucky that you get to have them around. There will be a time in your life where it won’t be possible, so cherish this time now. Saving money is only a perk of the actual blessing, which is time with your parents.

likeuplifting

So true.

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