Wow that is crazy especially since Golden Retrievers are normally very mild mannered.
What a terrible trauma that must have been for the family.
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It was bad, my friend was distraught, they did get her into surgery but there wasn’t enough flesh to sew her abdominal cavity back up, and then my friend had to go to the hospital to get a tetanus shot and close wounds on her face. Another friend brought up dog rage syndrome, her son had looked into getting a golden and his research brought it up. Now the decision needs to be made if they put him down (2 kids in college, 1 in high school, so thank goodness no small children around).
I think maybe the person meant golden doodle?
Nope, a golden retrievers, although poodles have been known to have it too. https://www.petcarerx.com/article/what-is-rage-syndrome-in-dogs/1611
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Being young, single, in your 20s and living with a bunch of other roommates like you-it can be an experience like no other, and the window to do it is quite brief. It can create a lot of great memories. Mine are so glad they had that option.
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Just skimmed the thread. As a financial advisor I see so much financial illiteracy in this and many generations. But these kids have an unusually strong opportunity to start building a solid financial foundation while living in M&Ds home. Knock out debt, fund 401ks, Roth IRAs, brokerage accounts for long term investing (not Robinhood trading BS that seems cool). If they just get started they’ll have millions in their 50s. Not being a fuddy duddy. They can still have tons of fun. Live like they would have if they were paying rent (trust me they’d be going out, traveling, etc) but take the rent saving and get it invested or pay down debt. “Millionaire Next Door” and “Wealthy Barber” stuff but it really works.
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I think they do all that and it’s possible one kid maybe able to retire in her 40s.
I don’t make them pay rent, I treat them as an adult as long as they take out the trash, put away the dishes, and vacuum our house regularly, lol. So far so good.
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Lol my husband is a CFP (even taught college classes at Rutgers for 20 years as an adjunct), our 26 year old who just came home was talking about buying a condo as an investment, we had no idea where she was coming from (just out of a long term relationship, WFH), finally we realized she was thinking of ways to invest wisely to retire early. Dad had a long talk with her about Roth ira’s and other opportunities where she wouldn’t be a landlord for a one bedroom condo, especially since she’s young and who knows where she will end up as a CPA. Both college graduates contribute the max to their employer sponsored 401k’s, but they can/should be doing more. My husband couldn’t be more excited.
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I think the key word here is that they’re engineers. Most engineers I know, which isn’t a ton, don’t have to scrimp and save for stuff, at least not compared to most people.
On another note, I haven’t seen a correlation between living at home and later marriage. I know people who moved out of their parents house at 18 and never came back who got married at 37 and people who lived at home during college and even a bit after graduation and got married at 23…a lot of it probably depends on the person and just plain old luck and chance…
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I suppose it depends how you define “luxury dog” . There are many possible interpretations – elite pedigree background, small lap dog, acts like a princess, treated with luxury dog products/services, generally expensive, …
My dog has been one of my larger discretionary expenses, but doesn’t check any of the other boxes. She has about the least pedigree background possible – born to street dogs and rescued a couple hours before being euthanized. Her DNA results show dozens for breeds listed (much of the lower percentage ones are probably random noise), but none more than 10% and the largest one is not one recognized by AKC. I think of her as a new and original breed unlike any other dogs we see at the dog park that may share physical or behavioral traits with almost any breed – speed and endurance similar to a 1-year-old vizsla friend, water/dirt resistant coat + extensive webbing like a labrador, loves wrestling play more than most pitbulls, no shedding like a hypoallergenic breed, howling alert, naturally guards property, etc. I prefer this one-of-a-kind uniqueness to getting a purebred.
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I don’t mind kids at home if there is a plan. Rent that doesn’t allow you to gain a higher paying job is a waste. But if you live in my house you will contribute to the household chores.
It is a good chance that my oldest will be back in May. She doesn’t have loans and that was mainly through her hard work and chasing merit$.
Really I would rather my kid go off into adulthood with some sort of nest egg and positive net worth rather than the negative net worth I had in my 20s.
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Depending upon the city, it may make more sense to rent rather than own. There are calculators that can help with this decision.
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The writer of The Millionaire Next Door did blog about how engineers were more likely to be frugal than those in other professions. Perhaps it has to do with both the profession (designing things under constraints, including cost) and being good at math (e.g. easily understanding concepts like compound interest).
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I agree, kids should have a plan if they live at home. How would rent affect their chances at getting a higher paying job? If their job is higher paying, they may be able to afford not to live at home. I don’t think it’s necessarily the worst thing for kids to pay rent if the parents could use the money and if the kids are living at home and throwing all their money away on fun stuff, I think they can afford to pay rent and help contribute to the household…
So true! And I’ve known people who are so desperate to own a home, that they’ll buy any old house, even if it’s in a terrible area.
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Not all engineers are paid a fortune, but usually enough to live comfortably.
This thread was about Gen Z who spend on luxuries rather than buying a home. I don’t think it matters if they are engineers or in IB or just getting by, it’s about their discretionary spending.
This group I know are buying the housing, still saving, and do have a few luxuries (not Rolexes). It’s the every day stuff they skip. They don’t spend on cars, don’t spend on household goods (except tools at Home Depot to fix the houses).
My nephew’s GF is from a wealthy family and her father gave them a big amount for their down payment (as discussed in another thread about helping out kids with buying a house). This did help them keep the monthly payments lower so my nephew benefits from the gift to his GF (all tied up in a legal document should they break up).
Really their biggest luxuries are travel and the dog.
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True! I just meant that the engineers I do know can take lavish vacations just about every year and not really have to save for it. That said, they do live pretty frugally otherwise from what I see…
Perhaps they realize that experiences rather than things improve their enjoyment of life more.
But also, they may have planned their lavish vacations in ways that minimized the cost without losing the enjoyment or convenience.
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True.
Say someone lives in a more rural area and there aren’t that many high paying jobs in the area. Someone might decide it would be beneficial to go live in an area where there are jobs and therefore have to rent a place to live.
Like if you are going into IB and you live in a town of 25K 4 hours from a major metropolitan area you probably need to move and rent. It would be a good investment if you are successful in your career.
True that, mine get some of her credit cards to pay for her trips. Just like I do, I never told her to do it. She learned from Reddit.