Even when my kids get a job, it would still make sense if they work close by, to allow them to live with us (for a monthly rental, plus helping with shopping, etc). The stipulation is that any money they save out of the deal, goes into a retirement fund. People don't realize just how much difference it makes to start saving for retirement in their 20s, rather than starting in their 30s, even a little money goes a long way if you have that extra ten years of interest.
Maybe...but there is something to be said for duking it out on your own. And maybe until you are 20 or so...
But 28? 29? 32 (a couple of cases I know of)???
Forget retirement. I'd be more interested in my kids saving for downpayments for their own homes so that they can get out of mine and we can have adult to adult relationships.
I wished I had listened to my father when I was younger. A thoussand dollars a year for 40 years at 10% interest will be a million dollars. I wasted so much money when I was young.
You are right. Right when I get a job out of college I want to start saving up. You can have 500 grand more if you save in your 20's instead of your 30's. Maybe even more.
BTW, my parents say they would want me to come back and live with them after I graduate to help get myself on my feet etc. since my career will not advance in pay very quickly, and I have a lot of loans to pay off.
But, I really do not want to do it more than a year. After that, it is apartment time. Being KS, I can find something that I can live in for 300 a month or so. But, just a year at home would do wonders for building actual savings and paying off loans.
I do think there is something wrong with those who are still with their parents at 30 or even 27 unless you are a med student (unless it is an ethnic community that lives like that or something).