29-Year-Old Son Making $100K Still Lives at Home: Advice for Parents

The Situation: Son Moves Home

• 🏠 A 29-year-old son has moved back home with his parents to follow the Baby Steps Millionaire program and pay off his private student loan debt.
• 💰 The son holds a GS13 government employee job and is a high-ranking military officer, earning over $100,000 annually, with much of it tax-free due to active duty deployment.
• ⚠️ Despite his high income, he has resisted contributing to household expenses, only offering to analyze his parents' budget to find ways to cut costs rather than pay a bill.

Financial Strain on Parents

• 📈 The parents, nearing retirement, are experiencing increased household expenses, including utilities, food, and property taxes, which are straining their budget.
• 💸 The son's presence increases food bills and utility usage, adding to the financial pressure on the parents.

Advice for the Parents

• 🗣️ The hosts strongly advise the parents to set clear boundaries, suggesting they charge the son $300 a month to live at home or ask him to find alternative housing.
• ⏳ A time-limited approach is recommended: set a deadline (e.g., 6 months) for him to pay off his remaining $35,000 in student loan debt while living at home.
• 📊 During this period, the son should be required to provide monthly updates on his debt balance and potentially contribute a set amount to a savings account for him.

Underlying Issues and Character Traits

• 💔 The son's cheapness is highlighted as a potential reason his engagement was broken off, as his ex-fiancée became frustrated with his stinginess.
• 🚀 This behavior is described as a "failure to launch," indicating he has the financial means and discipline but lacks the initiative to live independently.
• 💡 The advice emphasizes that living as an adult requires accepting the costs associated with rent, mortgages, and personal expenses.