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How You Know When You Ready To Get Your Own Place.

How do you know when your children are ready to leave the "nest?" What do you say to them?

It’s different for everyone. My uncle gave both my cousins a one-way bus ticket to wherever they wanted to go when they graduated from high school… they both went into the military.My parents put me through my BA and I lived with them during the summers until i graduated from college and got married shortly thereafter… at 23.My children - I have three - one is in college and is gone except for the summer. One is in college and is 25. He’ll probably stay with us until he gets his student loans paid off, so he can have a debt-free start. One has autism and will likely live with us for quite awhile longer, until we find him a situation with other people closer to his own age, which would be ideal for him.You just have to make your own best judgement, taking your situation and that of your children into account. Talk to them. If they are old enough to move out, they are old enough to have an opinion about it. At any rate, if they are not going to school they should be working and contributing in some way or another. If they are going to school, well, IMO that is a good thing for them to be doing. Rejoice.

How did you know you were financially ready to live on your own?

How did you know you were financially ready to live on your own?Gratefully, it was a gradual process. After the Navy, I lived at home, paid rent, did my due diligence.Then I got a job maintaining apartments and took a discounted apartment as my own. I got another job at a gas station and was working75 hours a week.In 76 I moved to help my brother run his two newly purchased bar and liquor store businesses. I lived with them until I could find another apartment. I was working 90 hours a week to sustain myself.That was the secret. Doing whatever it took to be relatively independent, with honor, not as a parasite.Example;I watched a court case involving a young woman with a child who said“My parents pay most of my rent, I get food stamps and some food from a charity organization. My church gives me a stipend and I’m trying to get the state to give me some money so I can continue being independent.”

How do you know that you are ready to be a parent?

How do you know if you're ready to become a parent?If I ruled the world, every potential parent would have to, at very least. raise a puppy to adult dog stage first.Puppies require potty training, feeding regularly and whine at night when they are young.Just like babies.I had my first child at age 19. I shouldn’t have had a parakeet, much less a baby. So I learned on the job, an ‘unwed’ mother to my own parents shame and horror.Considering the times and my complete lack of experience I did a pretty good job. My child and I followed the Grateful Dead in my VW Van for about 3 years. Not exactly a stable environment but he ran with the other kids like a pack of dogs through concert venue parking lots, eating with anyone who was making grilled cheese sandwiches and checking in with me every once in a while…That was then-a different era.That was also before birth control for women was available, however, and things are different now.I think the most important thing, for young adults these days, is to make sure both parents want a relationship that will last, amicably, for 18 years and that both are ready to make a commitment to raise the child, wether together or apart.Babies don’t fix messed up relationships-they cause more stress.The potential parents need to realize, also, that mom will have to take time off work or away from school to give this new person a fighting chance at having her own successful childhood. Early nurturing, which doesn't come from child care providers sufficiently, is found to be very important to a childs ability to bond in adulthood. Babies need doting parents who will give her security and love.Don’t do what I did.Wait until you are actually a mature adult and have established yourself in a healthy relationship before becoming a parent.Your child will thank you eventually.

How do I know if I am ready to live on my own?

You're ready to live on your own when you can confidently and honestly say yes to the following questions truthfully about yourself:Do I pay my bills, on time, every time, completely, every month and still have enough for myself and some self indulgence on occasion?Would I be an effective person to leave a cherished pet or sick relative with for a month in a situation of short notice?Can I calmly navigate household emergencies and financial crises?Do I currently need to be worried about family or cohabitants walking in on me while masturbating, having intimate relations, or dismembering the body of an enemy?Are my current cohabitants routinely dropping clues about other nice places I could live INSTEAD of their sofa?

How do you know if you're ready to move out of your parents home?

I think you should be ready, but it depends on you as an individual. Nobody can answer this question for you. I moved out when I was 18, and although I missed certain aspects of living with my mom, there were other aspects which were nice as well. The only problem for me was I moved in with my boyfriend of 1 year when I was 19 and he became abusive. I stayed with him for another year and a half until recently when I dumped him. Also, on my budget I lived in a ghetto area and was molested. BUT I learned my lessons early lol. I would say to just make sure you are in a decent area, and make sure your boyfriend treats you well (which he should since youve been together 4 years).
Again, how you will feel completely depends on you alone. I studied abroad in high school, and I did just fine, but there were a few people who were very homesick and crying months after we had arrived!
I would suggest trying it out. You will never know until you try, and by 23 many people are out on their own so it is not unusual (say for instance if you were 16 it may be like "eh...")

How do you know you are ready to buy your first rental house?

First you would need to have funds for a 25% down payment. That doesn’t necessarily need to be cash in the bank. I know of several situations where the rental purchaser used the equity in a present home (through a Home Equity Loan) for the down payment on a rental house.Second, you need to be in a market where rental rates will provide sufficient income for the purchase to provide a satisfactory rate of return. One of the largest portion of financial benefit of owning rentals comes in the form of depreciation on the rental home(s). That is great if you have other income on which the depreciation will shelter taxes. It is common for rental units to “lose” money on a cash basis but “make” money when the depreciation is accounted for against other income. It doesn’t help if your only income is from the rental home(s), unless you have a significant investment and income from that. Your CPA should be your first stop on that question, though I have some software that will estimate the financial performance and give you data for the CPA.Lastly I would recommend you not invest in a house. Rather, you should invest in multi-family housing, typically 2–4 units, at least for starters (more than four units puts the whole transaction into the “commercial” category, a substantially different financial proposition). If you lose a tenant in a single-family house your income is suddenly zero, whereas in a 2–4 unit property, losing one tenant doesn’t do that.An excellent way to get started in this business is to buy a duplex and live in one side. A significant advantage is you will get lower mortgage rates because it’s “owner-occupied”. Another is that you can avoid the expense of a property manager (typically around 7% of gross rents) . I recommend a property manager for anything more than that. The single best thing a property manager can do is screen potential tenants for credit-worthiness. Then it also relieves you of the tenant calls (the toilet is leaking, the window is broken, the dishwasher quit working, and on and on). Finally, a property manager has a plumber (and other necessary trades) who will respond on a Sunday morning and at a reasonable rate.Listen to my Facebook Live every Wednesday at 1:00 Pacific time. We’ll discuss this exact topic on November 7. 10/31 topic is “What fixup should I do to my home to get top dollar at sale?”

Am I ready for a horse?

If your asking the question here, I have to say, no your not ready to get a horse yet.

How did you know you were emotionally ready to move out your parents house?

I never thought of it as if I was “emotionally ready”. I just had to move out of necessity. I also wanted to live on my own so I guess that helped a lot on the way.Most people will always rely on their parents for some things and moving out doesn’t really mean you’re cutting all contacts. While you’ll probably not see them as frequent, they’re still there. It’s just another step in life we all have to deal with.With modern technology, it’s also easy to have regular contact with people so I guess from that aspect it helps a lot with the emotional part for people in need of it, especially if you’re moving to another city.Feeling partially apathetic may have played a part in helping me being “emotionally ready”, though I don’t really know.I suppose one can be practically ready as in being able to provide for oneself and still not emotionally ready to live on your own. Much of it would have to do with individual development. Having responsibilities early on in life may help on the way since it builds character and promotes a sense of individuality and maturity.