Past Due: Radio 166 – Preparing Financially For Life Outside The Nest
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I took another Facebook question today from my friend Ashley. She’s a little concerned for a friend of hers who is just now leaving the safety and comfort of her parent’s nest for the wide open real world.
Ashley asked, “I have a friend that just moved out of her parents’ house. She’s never had a budget, never really had to worry about how to pay for life, retirement, etc? What can she do to get settled successfully?”
While this doesn’t appear to be a “failure to launch” situation, I couldn’t help but think of the 2006 film with Sarah Jessica Parker and Matthew McConaughey.
Today we discussed:
1) What parents of adult children can do to guide them toward independence, as well as the social change that has occurred since the Great Recession resulting 60% of college grads returning to live at home.
2) What Ashley needs to do, as this young woman’s friend, to encourage her and hold her accountable in the midst of spreading her wings.
3) The first two steps any newly-independent person should take to understand their financial position, lifestyle expenses, and to plan for the risks of life.
If you have a specific question, I’d be happy to answer it and further cultivate the wisdom of the Past Due Radio masses. The experiences of our listener base provide plenty of insight we all can learn from; don’t hesitate to ask – I’m happy to help!