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My solution to improving my savings rate has been to swallow my pride and move into one of my parents' investment properties. As a bonus, I'm learning to be mor

My solution to improving my savings rate has been to swallow my pride and move into one of my parents' investment properties. As a bonus, I'm learning to be more handy by taking on moderate home maintenance tasks! Considering that most young people in tech have parents significantly wealthier than them, it's amazing to me that more people don't pursue this route and insist on throwing money away on rent. I know it's not as cool as the bohemian atmosphere of living with startup teammates in a shared house, but living rent-free in your family's spare home is the responsible and quick way to save!

aeontech 6y ago
I am not sure your assumption that most young people in tech have parents wealthy enough to own multiple properties is quite accurate... I agree that it’s a great idea, but I suspect many may not own even one property.
- legerdemain 6y ago
  Here in Palo Alto, the parents of most of my peers have had long careers in medicine, law, finance/banking, or have international family wealth. There's always the odd person who comes from a more limited background, but for most of us, software engineering is actually a bit of a step down the traditional prestige ladder!
  - colinjoy 6y ago
    consider yourself part of a very exclusive and privileged minority, even if your local bubble might suggest otherwise.
    - fred_is_fred 6y ago
      +1 "Here in Palo Alto" is the definition of a privilege bubble.
  - taneq 6y ago
    Translation: Your entire social group is stonking rich. Which is nice but not really the target audience for the article.
    - AstralStorm 6y ago
      Then the article should talk more about getting a place to live, since you have to be rich to own one, and not having one is a major existential risk. Homelessness is way too common and vastly limiting. And the estate is a major investment. Easily matching or exceeding the FIRE target funds.
    - aeontech 6y ago
      That is, indeed, what I was trying to hint at to the OP. The reply illustrated the bubble quite profoundly :)
- taneq 6y ago
  Depends where you live. In Australia it's pretty common for people in middle age and later to own investment properties (or maybe that's just my bubble...)
ticmasta 6y ago
Isn't this just an abstraction on living in your parent's basement? I don't believe that most newish techies have parents with spare, vacant homes ready to go.
- legerdemain 6y ago
  Most homes here in the Bay Area don't have basements.
  - hindsightbias 6y ago
    This is the root of the problem.
- imtringued 6y ago
  If your direct parents are to blame then sure... but when people complain about "boomers" ruining everything, they probably only think about the wealthy ones, which means your parents might not be one of them.
TrashQuestion 6y ago
This is so incredibly out of touch, which admittedly I expect from Silicon Valley folk. I work at a FAANG making an amount of money per year that I didn't even think was attainable for "normal" people, but my parents were dirt poor and I grew up on food stamps. To just say "Oh the solution is as simple as moving into your parents investment properties!" is just a huge slap in the face. Get a grip on reality and realize your situation is incredibly privileged and not the norm.

aeontech 6y ago

I am not sure your assumption that most young people in tech have parents wealthy enough to own multiple properties is quite accurate... I agree that it’s a great idea, but I suspect many may not own even one property.

legerdemain 6y ago
Here in Palo Alto, the parents of most of my peers have had long careers in medicine, law, finance/banking, or have international family wealth. There's always the odd person who comes from a more limited background, but for most of us, software engineering is actually a bit of a step down the traditional prestige ladder!
- colinjoy 6y ago
  consider yourself part of a very exclusive and privileged minority, even if your local bubble might suggest otherwise.
  - fred_is_fred 6y ago
    +1 "Here in Palo Alto" is the definition of a privilege bubble.
- taneq 6y ago
  Translation: Your entire social group is stonking rich. Which is nice but not really the target audience for the article.
  - AstralStorm 6y ago
    Then the article should talk more about getting a place to live, since you have to be rich to own one, and not having one is a major existential risk. Homelessness is way too common and vastly limiting. And the estate is a major investment. Easily matching or exceeding the FIRE target funds.
  - aeontech 6y ago
    That is, indeed, what I was trying to hint at to the OP. The reply illustrated the bubble quite profoundly :)
taneq 6y ago
Depends where you live. In Australia it's pretty common for people in middle age and later to own investment properties (or maybe that's just my bubble...)

ticmasta 6y ago

Isn't this just an abstraction on living in your parent's basement? I don't believe that most newish techies have parents with spare, vacant homes ready to go.

legerdemain 6y ago
Most homes here in the Bay Area don't have basements.
- hindsightbias 6y ago
  This is the root of the problem.
imtringued 6y ago
If your direct parents are to blame then sure... but when people complain about "boomers" ruining everything, they probably only think about the wealthy ones, which means your parents might not be one of them.

TrashQuestion 6y ago

This is so incredibly out of touch, which admittedly I expect from Silicon Valley folk. I work at a FAANG making an amount of money per year that I didn't even think was attainable for "normal" people, but my parents were dirt poor and I grew up on food stamps. To just say "Oh the solution is as simple as moving into your parents investment properties!" is just a huge slap in the face. Get a grip on reality and realize your situation is incredibly privileged and not the norm.