3 votes

Should I stay to live with my parents and save money (gold & silver) or should I buy my own place?

I'm almost 27 and have a job, but I drive a fairly long commute( almost an hour) to work. I am saving my money in silver, but I don't like living with my parents that much and want my own place. I would save more money probably if I lived with them compared to buying a condo closer to the city. Would it be a wise thing to do financially? Or am I better off living with them? They are paying a lot of my bills off, so that shouldn't be an issue. I was reading that when silver becomes money again, it would be able to buy a lot more stuff. Should I just hold off the apt. idea and save up for a house? Good advice would be appreciated. Thanks.




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DO NOT TELL MY

DO NOT TELL MY CHILDREN...but, I say, "stay at home and mooch off mom and dad for as long as it is in your best intrest".

Trust me, they REALLY don't mind. If you are working and contributing something to the house, they will let you live there forever.

I see your delema with the girls and social life. The answer is to find a county bumbkin that likes over night tenting a camp fire and a painters field of stars. If you start them out with nothing but love, then, in the end, they will never complain about lack of items, but only lack of love. Don't worry about this one, it will come to you. Damn, your making me feel old and suddenly I need to go tell my wife I love her.

Lol I moved to a new dept.

Lol I moved to a new dept. where I get to see lots of women now. Very pretty ones, so it looks like it is working out now.

Saw this post long time ago, responding now.

When I was 27 I bought my first home and my first new car. I did so with the help of a very savvy country boy who is an expert negotiator & savvy in investing. His $150. teachings saved me $6,000 on my house purchase. Buy his program and memorize it during your long drives to work and back: http://www.jimmynapier.com/productlist.php

Another great investor and author I highly recommend is John Schaub. He wrote a book called "Buying Right" that cost me less than $10, but has saved me thousands just on everyday purchases. You can get it on Amazon really cheap here:
http://www.amazon.com/gp/offer-listing/0936177004/sr=8-3/qid...

He has an at home study course; Generating Cash Flow 24/7 - Make the leap from working to living off your cash flow investments. Here are some of his newsletters from 2005 that show he is years ahead of any curves: http://www.johnschaub.com/newsletters.htm

You will be so glad you did. The secret to wealth is learning how to hold on to what you've already worked for. The other most valuable lesson I ever learned from these men was that questions are free, and their answers are like free money.

You ignored the good advice I gave you almost two weeks ago

and are still making excuses for living out in the boondocks with Mom and Dad.

You said in a previous comment "I see it as much as I would like to move out on my own, I have no choice but to stay home and commute to work in the city (I live way out in the country in the middle of nowhere)" At $4/gallon and rising, you are spending at least $16/day, or $320/mo just on gas, not to mention oil changes.

When we bomb Iran, gas will quickly go to 6,7,maybe $8/gallon. Are you going to still argue then that you "can't afford" to get your own place close to work?

As for the girls, there are millions of young ladies who are lamenting the fact that they can't find a nice guy. How do you expect to meet a suitable mate when, after eight hours at work, you spend two hours/day commuting? And then once you arrive at your destination (home), you are in "the middle of nowhere".

You need to put yourself into an environment where you can meet the love of your life. I don't know where you work, but from what you have said, your opportunity for meeting women is minimal at best. Only YOU can change that. My guess is that your social life is minimal too. Living where you do is NOT conducive to having friends or girlfriends.

Just for the record, I am NOT against twenty-somethings living with their parents. It can be a mutually beneficial relationship in so many ways. However, when the living situation is used as cover by the son or daughter to hide from life,from their own inadequacies, and keeps them from facing their fears, it is no longer a good thing. I believe you are in THAT situation.

Here is my BEST ADVICE:
The first thing you must do is recognize that you have been rationalizing your living situation. Financially, and socially, it would be much better for you to live close to your job. Place an ad in the city where you work seeking a roommate or roommates to share an apartment with.

If your current job does not give you much contact with young people, look for a job that would. Develop friendships with some of your new acquaintances, (roommates, coworkers, customers). Also, attend church and get involved in a hobby club that interests you in order to expand your opportunity for meeting potential friends, as well as girlfriends.

In short, START LIVING! By living in the city, you can go out with friends after work, or take a special girl to the movies. Once you are on your own, try new things. Take a cooking class--aside from the practical benefit, it is another great way to meet the ladies!

Also, don't forget to exercise--you will not only look better but feel better too, and joining a gym or jogging in a popular park is one more way to meet new people. As you have fun and develop yourself as a human being, you will gain the confidence you need to expand your horizons even further.

C'mon ryno, NO MORE EXCUSES! Your new life (and wife) awaits!

I live like how the Germans

I live like how the Germans do. Very frugally. They have 3 generations living in one house, and never move out. Thats why Americans are in the shape they are in, because they live off of credit by trying to live beyond their means. Why would I move out if inflation is going to get worse in the future where I would just be comming back home again to live with them again? In the future, no one will afford to live on their own. People will be thrown out in the street when higher inflation hits. I am not making excuses, but just being practical. I look at the long term of things. I think moving out at 18 is obsolete in this day and age.

I'm coming at you with a more different point of view

In this type of economy, who the hell wants to move out? The American viewpoint is that the person should move out by the age of 18 and if not, they are either weird or some kind of geeky weirdo. I do not buy that. Different ethnic group see things differently. In fact, in the latino culture, parents would rather have you at home while the White Americans prefer the kids to live home and "make their own life." That's just a fact. My opinion is if you are going to help your parents financially like helping pay the bills and stuff then i am fine with it. I personally have seen my mother fight to try to help me and when i graduate in December, i hope to find a job where i can help her just like she helped me. I can never repay her for how she has raised me and helped me. Hope this helps.PS. Probably 75% chance that I will move out of the house by next year since Rehabilitation Counseling positions are not open in my immediate area.

Whoa, thats a lot of advice...

I can't read ALL the comments but did anyone point out the fact that metal will generally only maintain purchasing power? When inflation hits, it will take more fiat AND more metal. Metal will not make you rich, it will only maintain the current level of the fiats used to purchase it..
IT is a stabilizer not an investment necessarily.
if the s**t really hits the fan. Metal may have little value compared to usable commodities like food etc...

A patriot must always be prepared to defend his country from his government.

You obviously have not been

You obviously have not been researching precious metals and their potential growth of value. Silver is very undervalued, around 65 to 1 to gold.

You obviously forgot to look at both sides of the coin

While it is possible that silver is undervalued, it is equally possible for gold to be extremely overvalued. The OP is investing in silver under the assumption that it will continue to go up. But if you look at historical data, the values of both gold and silver are at all time highs. And while it is possible that they could continue to rise (if the economy tanks again or if the monetary base continues to expand exponentially), it is also possible for the price of gold to return to historic norms and cause silver to either fall or remain the same.

To the OP, silver should not be your only investment. That is absolutely insane. It is important to have some of your savings in metals to protect against tail risk, but having all of it in one commodity is one of the worst ideas I have ever heard. The reason RP says to invest in silver is because it is a real asset with real value. Stocks are not real commodities, their value is based on speculation and could evaporate overnight. OP, if you have enough money to buy your own home, I would recommend doing so. Real estate may not have bottomed out yet, but it is getting pretty close. If you put your money into a home, you will still have the benefit of storing your savings in a real asset, and you will also be able to use that asset while it retains its value.

Then why is Mike Maloney

Then why is Mike Maloney going 100% into precious metals?
http://www.youtube.com/watch?v=E5VNAEmmBQM

Because he's not

Because even though he may say he is, he isn't. He is, however, a smart man, and is trying to sell his books.

Don't get me wrong, with the US in the shape that it is right now, metals should rise in the short-term. But nothing is guaranteed, you are buying silver when it is at an all time high. Typically what goes up, must come down. Commodities (metals, real estate, agriculture, etc.) are the best investments at this point in time, but to have all of your savings in just one of them isn't a smart move.

Well I have guns and ammo, a

Well I have guns and ammo, a garden, fruit trees, chickens that lay eggs too in my back yard. I am not just buying gold and silver. But silver is real money. If you would watch the video, he explains why dollar price means nothing, because the dollar is measured against gold and other commodites.

I Don't Know Why You Started This Thread-- It's Obvious You've

already made up your mind to stay with Mom and Dad.

You are a (almost) 27-year-old man! For God's sake, GROW UP and START LIVING!

Figure out what you need to do to get a job that requires the college degree you've ALREADY earned, even if that means relocating to a large city. Practice to improve your job interviewing skills.

If you are one of the unfortunate millions who earned a worthless degree, explore your options at a local community college and learn a trade, perhaps starting your own business.

If you stay on your present course you will be a childless, single 35-year-old who lives with Mom and Dad. You may have a lot of silver but you won't be able to say that you've really lived.

You can't afford to waste any more time--move out NOW, find a nice girl, and make a life together. You are only given ONE life, so GET GOING!

It's hard finding a nice

It's hard finding a nice girl. The ones I like keep rejecting me or leaving me. I think I need more money to attract them.

This thread is old btw, it

This thread is old btw, it was at the time I was unsure. I just answered a question on here recently, that is why it pops up on your list to the side.

I do agree with you to a

I do agree with you to a point, but I can't afford to live on my own with a car payment. If I were to do what you suggest, I wouldn't be able to make my car payment, which in turn, would get my car repoed, ruin my credit, then I would have no transportation to get to work. I might not have the best paying job, but it is income never the less. I did try to use my degree to get a higher paying job, but no one hired me. Degrees it seems are now deminshing in value, it's not like how they were a generation or two ago when high paying jobs were much easier to get with a degree. I see it as much as I would like to move out on my own, I have no choice but to stay home and commute to work in the city (I live way out in the country in the middle of nowhere). Plus I plan to use that silver to buy my own house or farmland.

dude if you can't afford to

dude if you can't afford to be on your own because of a car payment that's your fault. live within your means man and like everyone else said grow up. i have a worthless college degree too but busted my ass off to find any job got that then looked for another got that one and then have been taking night classes while working. your gonna have to suck it up cupcake and take what you can get for a car thats affordable.

I do live within my means. My

I do live within my means. My degree is not worthless. My parents paid for my education, now have a job with a large company with great benefits. My car is only $400 a month with no interest, so the rest of my income I just put into savings. I have no other debt. I have good credit as well. If I lived out on my own I would just be throwing money away, without saving up in gold and silver that I could use to buy my own house out right in full, and/or lots of land.

Well it's better to have a

Well it's better to have a car that lasts then a cheap one that will have expensive repairs and break down all to gather in a few years. Did I mention that I don't pay any interest on it?

Moving to a large city right

Moving to a large city right before economic collapse probably isn't a good idea.

If you need a place to

If you need a place to live,buy a house only if the mortgage is far cheaper than renting.Do not buy it as an investment.Housing prices still havn't hit bottom and there are millions of houses coming into foreclosure and the banks own about 2 million houses right now and most are not on the market(shadow market)because they know if they swamp the market with another 2 million more houses the prices will plummet.My suggestion is rent a room for now and save half your money in cash and half in precious metals.In a couple years you will be able to buy much more house with your savings of metals and cash.

go

away

Why? his question is

Why? his question is relevant. Why are you being so rude?

One world, under government, with power and money for the elite

have married adult children living away and . . .

single adult children living at home.

As parents of both I am glad we still have children who (hard working and responsible) want to be with us.

No rent is required, but expenses are shared (pay for the fraction of food, utilities used)--

One single adult has visited friends and relatives who live away from parents and says it is highly over-rated to be 'independent'.

This would be a problem if the young people were irresponsible or lazy, but in our case we don't have to worry about that.

it's hard to be awake; it's easier to dream--

Real estate going up, gold and silver sideways two years

In the long term, of course, gold and silver are going up because the Fed keeps printing money.

But in the medium term, they're taking a breather after the recent fantastic run-up. Silver is particularly volatile, and I wouldn't be surprised if it touched $16. $20 sometime over the next two years seems a certainty.

In contrast, now is the time to buy real estate due to the low interest rates. Just play with a mortgage calculator to see how much of a difference the interest rates make.

Everything is cyclical. In your basket of investments: precious metals, stocks, and real estate, you want to emphasize the asset category that is currently undervalued, and right now that is real estate.

If you have some extra cash in February, you might want to make a short-term seasonal precious metals play, buying in February and selling in April. The bid/ask spread for physical coins is too great for short-term "month-trading" so you'd want trade the ETFs inside an IRA, which also has the advantage of avoiding the 28% collectors item capital gains tax. Of course the ETFs are just paper metals and not suitable for long-term investment.

Whatever you do, DON'T BORROW ....

...FROM THE BANKSTERS! Pay cash or rent.

You should get the heck out of there, head for the country....

I'm serious. That's going to be the safest place for you in the future when all sorts of interesting things happen.

If Romney starts looking like the Joker on national T.V., cracking, that is your hint that his criminal actions have started a mini civil war. If a mini-civil war occurs, get the hell away from the big cities immediately.

And I mean immediately. That is how close to the edge it is and the democrats, the whole block of communist democrats at least (besides kucinich, independent) are literally gunning for civil war.

I live out in the country

I live out in the country already, that's why I have to drive about 45 min. to get to work in the city.

0 down? i don't think he's

0 down? i don't think he's able to get a VA loan man you need 20% typical to buy..

Move to a large house for zero down, find a farm area.

And stock up and yes that is really good advice.