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Young Americans living with their parents reach reaches 75yr high....

Deja_Vu

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My middle daughter wanted to go to The Culinary Institute to the tune of $65k.
I told her are you nuts? All that coin to become a prep cook?
So we encouraged her to attend Riverside Culinary Academy and she graduated with no student debt.
She kept saying that we weren't helping her achieve her dream, but I said we absolutely are...just not the path you chose.
 

Flying_Lavey

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Do you ever think of moving elsewhere where housing might be more affordable? Home ownership is not going to be an option in CA for most millennials.

But in 06 I thought I'd never own a house. In 09 I had enough saved for a 20% down payment on one.
Occassionally. But my family is very close so moving that far away from them at this point is a HUGE negative and not worth it to just own a house. If something happens in the economy and my job is no longer available here or something along those lines, I'd consider it. As I've told just about anybody that would ask, the Central Coast is the only place in California I'd live. The good thing is my career is everywhere (refrigeration service tech) and I have enough knowledge and experience under my belt now that I should be able to get a job doing so wherever the economy will warrant. But, that is the fall back plan. Not the desired route.
 

pronstar

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My middle daughter wanted to go to The Culinary Institute to the tune of $65k.
I told her are you nuts? All that coin to become a prep cook?
So we encouraged her to attend Riverside Culinary Academy and she graduated with no student debt.
She kept saying that we weren't helping her achieve her dream, but I said we absolutely are...just not the path you chose.

My wife's cousin has been the executive chef at several high-end places in LA.
And my wife's nephew wants to go to culinary school, so we had them talk...

Her executive chef cousin said culinary schools are an absolute waste of money.
He told wannabe-cook nephew to start working - now - in the kitchen of any restaurant, to gain experience.
Personality, willingness to learn, and drive will take over from there.
 

Cole Trickle

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My middle daughter wanted to go to The Culinary Institute to the tune of $65k.
I told her are you nuts? All that coin to become a prep cook?
So we encouraged her to attend Riverside Culinary Academy and she graduated with no student debt.
She kept saying that we weren't helping her achieve her dream, but I said we absolutely are...just not the path you chose.



I don't want to be the bearer of bad news but she has chosen the wrong career path for financial success or holidays and weekends off .... she needs to cook for the love of it

I love to cook and at a young age like her wanted to go to culinary school. I am now 40 and I can tell you my parents saved me a life time of trouble by laughing that idea out of my head.

Cooks work shit hours and don't get paid well. You can try and open your own restaurant but the fail rate is gigantic and the only people I know that have had success are the people that work 15-18 hour days 6-7 days a week.

If she wants to achieve her dream she needs to move to NY, San francisco or another food mecca today and shack up with 5 other chefs in a crappy apartment and chase her dream......There is nothing you can do with the exception of hitting submit on the next food network star online application that will help her with those dreams.
 

Yellowboat

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My wife's cousin has been the executive chef at several high-end places in LA.
And my wife's nephew wants to go to culinary school, so we had them talk...

Her executive chef cousin said culinary schools are an absolute waste of money.
He told wannabe-cook nephew to start working - now - in the kitchen of any restaurant, to gain experience.
Personality, willingness to learn, and drive will take over from there.

i have heard the only school worth a shit is the cia. even that is not worth much.
 

grumpy88

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I was just having this conversation today and I think it starts at a very young age . At our house Dad would start the lawn mower for you if you were not strong enough to. Way before being a teenager I would mow neighbors lawns or cover my friends paper route to make money . Being home before street lights came on was a challenge and fight with our parents to fit in one more play .I am not sure if I had the worst parents or the greatest parents ever by letting me grow up and become a independent , problem solving ,successful adult .
 

pronstar

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I was just having this conversation today and I think it starts at a very young age . At our house Dad would start the lawn mower for you if you were not strong enough to. Way before being a teenager I would mow neighbors lawns or cover my friends paper route to make money . Being home before street lights came on was a challenge and fight with our parents to fit in one more play .I am not sure if I had the worst parents or the greatest parents ever by letting me grow up and become a independent , problem solving ,successful adult .

I was much the same, but my parents didn't allow me to keep any of the money I made until I got a "real" job with a paycheck when I was 14.
The shrink I used to see on occasion had a lot to say about that, said it explains a LOT :grumble:
 

LargeOrangeFont

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I was much the same, but my parents didn't allow me to keep any of the money I made until I got a "real" job with a paycheck when I was 14.
The shrink I used to see on occasion had a lot to say about that, said it explains a LOT :grumble:

This sounds like a story. Please lie down and tell me how you are feeling.
 

checkrd past

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Supporting your kids through school is how it should be....I'm all about that. At that point they should be flying on their own. If they hiccup, sure, lend a hand but don't turn them back into your adolescent child.

Let me tell you guys that it didn t come without sacrifice , still have the same 26 mid cabin boat since 2000, got out of the "keep up with the Jones" and live within our means with the old Idea that parents should do all that they came to further the next generation . Call me old fashion I guess. I take more pride with my girl than the new toys I have or could have gotten .
 

Hugh Jascaulk

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Great article in the Wall Street Journal the other day. This the the first generation that will not out earn their parents. Long gone are the days of being a loyal employee, promises of great pensions and retirement benefits. Can't be happy with being an employee or even self-employed, they need to be business owners and investors.
 

milkmoney

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We have this discussion pretty often. Being the oldest is a senior. She has a rude awakening come sept next year. Attending OSU. She has no idea how poor she will become. Between us and her grandfather , we will do our best to make sure she will have no debt when she graduated college .

As for the younger one ( freshman) , we tell her to watch and learn. Cause ur next
Boom , out the door or to college after u graduate high school. [emoji202][emoji106]
 

Deja_Vu

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I don't want to be the bearer of bad news but she has chosen the wrong career path for financial success or holidays and weekends off .... she needs to cook for the love of it

I love to cook and at a young age like her wanted to go to culinary school. I am now 40 and I can tell you my parents saved me a life time of trouble by laughing that idea out of my head.

Cooks work shit hours and don't get paid well. You can try and open your own restaurant but the fail rate is gigantic and the only people I know that have had success are the people that work 15-18 hour days 6-7 days a week.

If she wants to achieve her dream she needs to move to NY, San francisco or another food mecca today and shack up with 5 other chefs in a crappy apartment and chase her dream......There is nothing you can do with the exception of hitting submit on the next food network star online application that will help her with those dreams.

Oh don't worry, you aren't. I have had many conversations with my daughter.
Some kids have to learn the hard way before they wake up one morning and think "I'm tired of eating Ramen, I think I will do something different with my life"
I've told her that we should open a Bakery in Havasu and we can close by noon to enjoy the lake. :drink


Now its time to save and figure out how to pay for a future wedding

1 down and 2 to go for me ..... :yikes I have wedding #2 coming in Oct 2018.
 

77charger

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There is only one reason 30+ year old kids are living with their parents and it doesn't have anything to do with jobs, the government, luck, the economy etc. It has to do with the fact that they are lazy. You can have anything you want in this world but you have to be willing to get off your ass and go get it. If you can only find a 35k a year job, get two of them. Move in with your buddies while saving up to buy a house. Learn a skill and make something to sell or start a business. Houses too expensive in your area....MOVE to somewhere more affordable. Can't afford your own place....maybe u don't need to drive a brand new car every 2 years. These young kids want it all and they want it right now. My wife bought a house right after college and had 3 roommates live there so she could afford the payment. We worked our asses off fixing up that house and when she sold it she made 50K, it paid off but it was a lot risk and a lot of work. Hell, I buy and sell stuff all the time to make extra money. It can be done, but it takes effort.

Well said there are many trade jobs that can pay well yeh the kids gotta work a lil harder but the jobs are there if they look for them.But then most will think ooh i gotta get dirty,or iwill have to wake up early and so on.
 

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High cost of living and a school system that puts college driven students on high priority and blue collar students on low priority are factors. I could rant and rave but todays public schooling doesn't prepare anyone for the real world. Another thing that surprises me is the couples that one of their incomes for the month makes the mortgage and the others income pays the rest of the bills. What happened to the (3) 10 day periods of the month program?
 

jet496

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Occassionally. But my family is very close so moving that far away from them at this point is a HUGE negative and not worth it to just own a house. If something happens in the economy and my job is no longer available here or something along those lines, I'd consider it. As I've told just about anybody that would ask, the Central Coast is the only place in California I'd live. The good thing is my career is everywhere (refrigeration service tech) and I have enough knowledge and experience under my belt now that I should be able to get a job doing so wherever the economy will warrant. But, that is the fall back plan. Not the desired route.

Get yourself a van & start accumulating tools & parts to start your own refrigeration company, that's what I did (Commercial HVAC). Tons of money in it. I dropped out in 10th grade and have more moola than any of my siblings who have masters degrees. Take some business classes at a JV school just to get in the business mode & maybe, God forbid, start it with a business partner who brings something to the table.

Seriously, try it. You'll have money laying all over the place. :thumbsup
 

JDKRXW

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Get yourself a van & start accumulating tools & parts to start your own refrigeration company, that's what I did (Commercial HVAC). Tons of money in it. . :thumbsup

After reading 7 pages of this thread.... FINALLY someone said it. College/University isn't the only way to be a success.


Unless your kid knows what he/she wants to do...... FORGET college and wasting a boatload of money that the kid may never be able to pay back and get sweet f/all out of. Unless your kid has a goal, like becoming a mech. engineer, dentist,doctor or nurse etc., all a university degree prepares you for is to work for somebody else 99% of the time.
My wife is a h.s. career counselor and could write a book on the good and not so good decisions kids (and their parents) make when high school has ended..... and automatically going to university would be the #1 bad decision that many people make.
 

Singleton

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WTF is wrong with parents allowing this shit. My last year of college my dad said I could move home to Chicago for 6 months after graduation at $500 a month in rent as long as I was looking for a job. After 6 months I had to leave. Ended up taking a job in LA and he gave me that 6 months rent (3k) to help get me settled in LA.
I already told my graduating college in May 2017 senior (has an offer from the Dept of Interior and BLM) the same thing. He still does not know what he is going to do, but knows moving home is the last option.
 

Daytona47

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Get yourself a van & start accumulating tools & parts to start your own refrigeration company, that's what I did (Commercial HVAC). Tons of money in it. I dropped out in 10th grade and have more moola than any of my siblings who have masters degrees. Take some business classes at a JV school just to get in the business mode & maybe, God forbid, start it with a business partner who brings something to the table.

I can't agree with you more.. I started washing trucks for an electrical contractor in high school for extra money to put extra parts on my dirt bike. I learned the trade went to school for five years went out and got my license bought a work truck.. hired a guy followed by another and another. I am 28 now have three trucks 6 employees and did just over half a million dollars in work last year while some of my family and friends my age are still in school looking for what they want to end up doing. A lot of people I know feel like they deserve what there parents have for some reason.
 

Flying_Lavey

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Get yourself a van & start accumulating tools & parts to start your own refrigeration company, that's what I did (Commercial HVAC). Tons of money in it. I dropped out in 10th grade and have more moola than any of my siblings who have masters degrees. Take some business classes at a JV school just to get in the business mode & maybe, God forbid, start it with a business partner who brings something to the table.

Seriously, try it. You'll have money laying all over the place. :thumbsup
I truly have zero inclination to do so. Refrigeration is an entirely different animal since there is constantly product dependant upon the equipment functioning correctly. I know what is involved, the benefits, as well as the time demands it requires.

Now taking a job where there is future ownership/upper management opportunities that is a different story.
 

bk2drvr

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I can see a similar thread in 15-20 years from now - "Older Americans living with their children at a 75 year high... because they bought expensive boats, trucks and off-road cars. :smackhead
 

Cole Trickle

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I truly have zero inclination to do so. Refrigeration is an entirely different animal since there is constantly product dependant upon the equipment functioning correctly. I know what is involved, the benefits, as well as the time demands it requires.

Now taking a job where there is future ownership/upper management opportunities that is a different story.


Bud....

You have typed about 4 things in this thread that show you just don't want it bad enough. If you are content with renting and grinding through life and not taking risks than you have found out where you fit in the food chain.

No one is just going to give you an opportunity at ownership.....you have to earn it

You missed the absolute best time in the last 50 years to buy a home and stabilize that expense for your family. Have your girlfriend/wife get a job and contribute to the family....even if it's part time. You said it would cost you roughly $1200 a month for day care but you are trading double++yearly income $$$ to save 14K a year. Your kids will be in school before you know it and the last thing you want is a partner that has been out of the work force for 5 years.
 

Cole Trickle

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I can see a similar thread in 15-20 years from now - "Older Americans living with their children at a 75 year high... because they bought expensive boats, trucks and off-road cars. :smackhead


That's already happening.....

Baby boomers have made more $$$ than any other generation and many of them have huge financial issues come retirement. They lived like rock stars and burned through everything while not saving for retirement.
 

LargeOrangeFont

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That's already happening.....

Baby boomers have made more $$$ than any other generation and many of them have huge financial issues come retirement. They lived like rock stars and burned through everything while not saving for retirement.

Maybe they can move in with their kids after they retire.. oh wait.

Because of the lack of retirement planning Baby Boomers typically will need to work longer and probably hold back later generations from advancement. It will be interesting to see how that affects Millenials. That can't help things.
 

Flying_Lavey

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Bud....

You have typed about 4 things in this thread that show you just don't want it bad enough. If you are content with renting and grinding through life and not taking risks than you have found out where you fit in the food chain.

No one is just going to give you an opportunity at ownership.....you have to earn it

You missed the absolute best time in the last 50 years to buy a home and stabilize that expense for your family. Have your girlfriend/wife get a job and contribute to the family....even if it's part time. You said it would cost you roughly $1200 a month for day care but you are trading double++yearly income $$$ to save 14K a year. Your kids will be in school before you know it and the last thing you want is a partner that has been out of the work force for 5 years.
I've seen kids that have grown up with their parents missing things due to work frequently and I refuse to do that to my family. That is why I won't start my own along with the fact that I don't have any savings or anything to rely on while it gets up and running. Couple those with an extremely saturated market for HVAC/R companies and it doesn't make sense.

As far as my girlfriend getting a job, I would love that. But, finding a job where she doesn't work nights and weekends (when the daycare is not open) that she will bring home enough to cover the additional costs with her limited work experience is very difficult around here. We don't have family to help with the kids and my work schedule fluctuates greatly and most times I have no idea when I'll be getting home til I'm heading home. We are constantly looking for the right opportunity for her though as we'd both love for her to go back to work.

My whole point in posting in this thread is due many reasons, mostly I believe the increased cost in living, just working harder doesn't necessarily get everybody what they want. Sometimes there are other limiting factors that either reduce the capability to work 80 hours a week, or those 80 hours a week just still aren't enough.
 

BHC Vic

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Bud....

You have typed about 4 things in this thread that show you just don't want it bad enough. If you are content with renting and grinding through life and not taking risks than you have found out where you fit in the food chain.

No one is just going to give you an opportunity at ownership.....you have to earn it

You missed the absolute best time in the last 50 years to buy a home and stabilize that expense for your family. Have your girlfriend/wife get a job and contribute to the family....even if it's part time. You said it would cost you roughly $1200 a month for day care but you are trading double++yearly income $$$ to save 14K a year. Your kids will be in school before you know it and the last thing you want is a partner that has been out of the work force for 5 years.

Nanny for me is over 2k monthly. We both work a lot though
 

BHC Vic

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Maybe they can move in with their kids after they retire.. oh wait.

Because of the lack of retirement planning Baby Boomers typically will need to work longer and probably hold back later generations from advancement. It will be interesting to see how that affects Millenials. That can't help things.

My parents will move in w is eventually. That's why we are looking for houses w a pool house or back house [emoji4]
 

hallett21

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I've seen kids that have grown up with their parents missing things due to work frequently and I refuse to do that to my family. That is why I won't start my own along with the fact that I don't have any savings or anything to rely on while it gets up and running. Couple those with an extremely saturated market for HVAC/R companies and it doesn't make sense.

As far as my girlfriend getting a job, I would love that. But, finding a job where she doesn't work nights and weekends (when the daycare is not open) that she will bring home enough to cover the additional costs with her limited work experience is very difficult around here. We don't have family to help with the kids and my work schedule fluctuates greatly and most times I have no idea when I'll be getting home til I'm heading home. We are constantly looking for the right opportunity for her though as we'd both love for her to go back to work.

My whole point in posting in this thread is due many reasons, mostly I believe the increased cost in living, just working harder doesn't necessarily get everybody what they want. Sometimes there are other limiting factors that either reduce the capability to work 80 hours a week, or those 80 hours a week just still aren't enough.

With all the rain coming hopefully Naci will fill up. Which should bring more people this summer.

Could your GF start a side business either picking up groceries for vacationers or cleaning the houses after use?

Probably could make some decent money and it would be all cash.

Sounds like you need to make a move one way or the other. The odds of housing and cost of living plummeting while you maintain your current income is slim to none.
 

mbrown2

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That's already happening.....

Baby boomers have made more $$$ than any other generation and many of them have huge financial issues come retirement. They lived like rock stars and burned through everything while not saving for retirement.

That's sort of the way I want to go out...have some money to get through retirement but cremate me broke! :)
 

LargeOrangeFont

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Nanny for me is over 2k monthly. We both work a lot though

Child care costs are a challenge if you don't have any "hookups" for it. If your significant other does not make at least 50K a year it is probably a wash at best if you are dependent on that 2nd income.
 

LargeOrangeFont

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That's already happening.....

Baby boomers have made more $$$ than any other generation and many of them have huge financial issues come retirement. They lived like rock stars and burned through everything while not saving for retirement.

We are pretty blessed. Both of our parents have solid retirement plans and income. A few friends of mine are not or have not had that luxury.
 

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Child care costs are a challenge if you don't have any "hookups" for it. If your significant other does not make at least 50K a year it is probably a wash at best if you are dependent on that 2nd income.

Yup it's basically a mortgage. My wife makes enough so it's worth it but still a tough pill to swallow. Not to mention she lives in my house free [emoji12] (jk I'm happy to help)
 

Deja_Vu

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I've seen kids that have grown up with their parents missing things due to work frequently and I refuse to do that to my family. That is why I won't start my own along with the fact that I don't have any savings or anything to rely on while it gets up and running. Couple those with an extremely saturated market for HVAC/R companies and it doesn't make sense.

As far as my girlfriend getting a job, I would love that. But, finding a job where she doesn't work nights and weekends (when the daycare is not open) that she will bring home enough to cover the additional costs with her limited work experience is very difficult around here. We don't have family to help with the kids and my work schedule fluctuates greatly and most times I have no idea when I'll be getting home til I'm heading home. We are constantly looking for the right opportunity for her though as we'd both love for her to go back to work.

My whole point in posting in this thread is due many reasons, mostly I believe the increased cost in living, just working harder doesn't necessarily get everybody what they want. Sometimes there are other limiting factors that either reduce the capability to work 80 hours a week, or those 80 hours a week just still aren't enough.

My wife started an in home daycare before our kids started pre-school.
She was licensed for up to 6 kids and you could have 2 infants.
It gives you some business use of home write-offs and you can make pretty decent money while the kids are home.

Once the kids started school and after she did the room mom thing she changed her daycare to a pre-school and she kept the biz coming in.
She only accepted kids that were potty trained and it was much more fun for her.
Something to consider.
 

Faceaz

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Kids these days make great renters... I have 3 22ish kids living in a place, been there about a year. All they do is smoke weed & play video games. Social media runs their lives, they took the keys & didn't move in for a week, wouldn't move till they had wifi...lol. House looks perfect inside cause they just stare at their phones and TV.
 

Flying_Lavey

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With all the rain coming hopefully Naci will fill up. Which should bring more people this summer.

Could your GF start a side business either picking up groceries for vacationers or cleaning the houses after use?

Probably could make some decent money and it would be all cash.

Sounds like you need to make a move one way or the other. The odds of housing and cost of living plummeting while you maintain your current income is slim to none.
We're trying to find something for her. Anything really. A friend of ours is going to be opening a preschool type daycare in Heritage pretty soon and her and my girlfriend have been talking about her working there with her.


Also, my income has not stagnated or shrunk in the last 5 years. Actually the opposite, it's about trippled in that time and I'm continuously working to advance my skill set and position which both bring more $.
 
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