Considering living with my parents after graduation Forum

[Anonymous User]

Just typing the title out made me cringe, but hear me out.

I've just accepted a job with a firm that I absolutely love. I worked with them 1L and 2L summer, they do interesting work, the attorneys are bros, it's great. Tertiary hometown market, ~20 attorneys. I'll be making about $70k my first year -- which obviously isn't BigLaw money, but I've got a chance to work with people I like and work my way up the ladder.

I'll graduate with about ~$130k in debt. I'm seriously considering living with my parents for my first year out of school. They wouldn't charge me rent, would pay for food, etc. While I don't know a single thing about loan repayment (I know, I know, but I'm beginning my research now), I think I'd like to spend a huge chunk of my first year's salary on attacking the principal of my loan, and then maybe get a place of my own in year 2.

What I'm looking for here is anecdotes and advice. I understand that I will be severely limited in my options with the opposite sex, but frankly my debt concerns me more than getting laid. I get along well with my parents, FWIW, and they're open to the idea.

Am I an idiot for considering it? Will I look like a child to all of my new coworkers? General thoughts appreciated.

ETA: I don't have a family of my own, K-JD.

[dixiecupdrinking]

No one will care. It's a good idea so long as you can stand living with your parents. End of story.

[cdelgado]

Are you kidding me? Getting out of $130K debt versus your prestige hit of living at home?

Go home. Pay off your bills. You won't be spending any money on the opposite sex because you have no money to spend. Get the suffering over with now and then fully live your life.

[Pretzel_Logic]

If your 'rents are on board, do it. I would if I had the opportunity (and I may actually end up at grandma's house pretty soon myself).

Congrats on the job!

[ph14]

Women love a financially responsible man.

[Anonymous User]

Are you kidding me? Getting out of $130K debt versus your prestige hit of living at home?

Go home. Pay off your bills. You won't be spending any money on the opposite sex because you have no money to spend. Get the suffering over with now and then fully live your life.

I mean, spending three years of my late twenties living with my parents? I guess I'm just wondering if it's worth more than a year or two. Am I being a complete moron for considering that re: QOL?

Has anyone here actually done it?

-OP

[rinkrat19]

Are you kidding me? Getting out of $130K debt versus your prestige hit of living at home?

Go home. Pay off your bills. You won't be spending any money on the opposite sex because you have no money to spend. Get the suffering over with now and then fully live your life.

I mean, spending three years of my late twenties living with my parents? I guess I'm just wondering if it's worth more than a year or two. Am I being a complete moron for considering that re: QOL?

Has anyone here actually done it?

-OP

If it's unbearable, don't stay for the full three years. It's really not that big of a deal. Don't act like a deadbeat teenager around the house to keep your parents from treating you like a deadbeat teenager, take care of your loans, and get out when you're ready or can't stand it any more.

[dixiecupdrinking]

I mean, I get it OP. I wouldn't do it myself. If you're asking whether it's stupid NOT to live at home, the answer is no. But if you're up for it then just do it, nobody will give a shit and you'll save a lot of money.

[rad lulz]

.

[Anonymous User]

I would do this in a heartbeat.

However, I have a great relationship with my parents and a large suburbish house where we would be out of each others way.

[04102014]

Women love a financially responsible man.

[Anonymous User]

much like the NY v. secondary market debate, this is all very subjective and dependent upon what you value

for personal reasons, i refuse to live with my family, so i am already spending SA money i could be putting towards loans on living elsewhere even though they live in the same city and i could be saving ~$2k/mo or whatever

although i don't come from money, i also don't have a massive amount of debt, so to me it's worth the independence. i'm only a 3L and still when i weigh the "extra" time i will have to spend in biglaw to "pay it back" relative to how much more time that buys me in terms of independence now, it's a no brainer for me to keep living on my own

[Anonymous User]

Heading to a V15 with approx. $85k in loans and I'm actually considering this myself.

It would mean a 40min+ commute to NYC but I just want those loans gone ASAP.

[Pokemon]

Heading to a V15 with approx. $85k in loans and I'm actually considering this myself.

It would mean a 40min+ commute to NYC but I just want those loans gone ASAP.

Just say "I want to live with my parents." No need to come with such weird excuses...

[Pokemon]

Women love a financially independent man.

[Neff]

.

[BarbellDreams]

A friend of mine lived with his parents for 2 years after school while he used his salary to pay down student loans and saved up a little bit as well. He got a raise in his third year as he was moving out. He now owns a house AND a condo and lives in the condo without a mortgage because the 3 roommates that rent his house cover both the mortgages. He's only 27. Seriously, go live with your parents. Its the best decision you will ever make. I plan on using my friend as an example to my kids on what to do and myself as an example of what NOT to do.

[prezidentv8]

[wait I probably shouldn't quote all this]

Brotha, you sound like me last year, but with somewhat less debt.

ETA: my bad bro.

[thesealocust]

I'm mad jealous of the people I know who lived with parents for part of the beginning of their biglaw careers.

A tour of duty in biglaw needs to be logical and sustainable while it lasts - unless you're a mad person gunning for partner, there's no reason to try and live a normal life while working an objectively unreasonable job.

[Anonymous User]

Heading to a V15 with approx. $85k in loans and I'm actually considering this myself.

It would mean a 40min+ commute to NYC but I just want those loans gone ASAP.

Just say "I want to live with my parents." No need to come with such weird excuses...

Ok, you got me. Not that the debt plays any roll in living with one's parents as a post-grad.

[Anonymous User]

I have a friend who did this during his first year in BigLaw. His parents had an in-law suite attached to their home and he lived there for free so he could pay down his loans. He was in his 30s when he did this. We have a lot of mutual acquaintances. To my knowledge, NO ONE judged him (and some of us envied him a bit, both for the free rent and his clearly strong relationship with his parents). It was a financially rational thing to do, and we also understood that his career goals meant that he wasn't going to be at a BigLaw salary for all that long, so it made even more sense. Speaking as an employed female attorney (BigLaw), I would absolutely not be scared off from dating an attorney with a solid job in their early 20s or 30s who was trying to eviscerate their debt by saving ~2K+ on housing a month to apply to their loans. In fact, if I was looking at them seriously as a partner, I'd want them to be focusing on paying down their loans before we got more involved. And in the meantime, I have my own place and would be more than fine with hosting our overnight dates.

Also, you don't have to decide whether to do it for 1, 2, or 3 years right now. Just try it for a year and revisit it then.

[prezidentv8]

I would absolutely not be scared off from dating an attorney with a solid job in their early 20s or 30s who was trying to eviscerate their debt by saving ~2K+ on housing a month to apply to their loans.

Sup.

[Anonymous User]

Also, you don't have to decide whether to do it for 1, 2, or 3 years right now. Just try it for a year and revisit it then.

Exactly. You're not signing a contract. For some reason, the people who spawned you love you enough to put up with your shit while you enter adulthood. Take them up on the offer. There aren't any bonus points for making unreasonably difficult decisions while going through life. DO IT.

[adonai]

You might get flack from the older generation (I did) but eff em, they have jerbs.