So what can you do if you are so unfortunate to live in a place with plenty of closet space, extra bedrooms, and car-less garages. – Early Retirement Extreme
I am 31 years old, and by society’s standards, far behind where I should be in accomplishments and successes. I ‘should’ be married. I ‘should’ own a house in the suburbs. I ‘should’ a child or two. I ‘should’ be in a management position in a big company.
Where am I right now? I am in a relationship, but not married. I still live with my parents, and I rent out the condo that I own to a couple of teachers who are currently paying off my mortgage for me. I am childless. I am not in a management position by far. As you can see, I am quite a failure compared to the standards set for me.
I used to feel bad about still living at home with my parents. I used to feel bad about not having my own space, and being independent. But the more I think about it, the more I realize that living with my parents is a godsend in so many different ways.
- I can save up so much money when I am living with my parents, because my housing costs are nil and I am able to eat delicious food cooked by my mother for most meals.
- I can also rent out my condo, resulting in more savings that way – I am using other people to pay off my mortgage, and I am getting passive income out of the deal.
- Think about how many hours per day you spend in your home. Besides sleeping, I think I would spend 2 hours at home, after work, and all the other activities I have scheduled for the day. On the weekend, it might be a bit more. For most of the day, your big house is empty and unused. Living at home, I am helping my parents use up space that would be sitting empty and not wasting space of my own.
- Housing is usually one of the major costs of any individual (after that is transportation, food, and health). If there is anyway, you can reduce your major cost for a few years and put all of those dollars into savings, think about how much you could save.
- As I get into my 30s, I realize more and more that my family is extremely important to me, and this time that I have sitting around, having dinner, or chilling with my family is invaluable. I wouldn’t be able to have that much with them, if I was living on my own. I would get busy in my own cocoon-ed life, and I would see them maybe once or twice a month, if that.
I am sure there are other reasons that living with my parents is good for me. I don’t feel bad anymore for living at home. I am luckier than most, I know. A lot of my friends were told to leave when they were 18, and their parents wouldn’t dream of allowing them back into the house.
As the quote says, having a lot of extra space and house shouldn’t be considered a boon anymore. It should be considered a deterrent to freedom, and thus, happiness. Do not envy your friends with 4000 square foot homes in remote, unknown cities. As one of my colleague said, ‘I haven’t been to the second floor of my house in months. I don’t even know what the bathroom there looks like. I don’t know what colour the walls are in the bedrooms. I just don’t have the time or energy to go there.’
Keep as small a space as you can bear. Your wallet will thank you and your early retirement come sooner rather than later (or never).
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