The Y (WHY) Concept Direction

I thought this needed a seperate thread for our newbie and next generation Fastlaners!



To clear up to everyone of this concept. I call it the Y (WHY?) direction? It is basically taking advantage living with your parents (bottom of Y) till age ? you leave home (middle of Y). Learn everything you can and make a plan for yourself on how to live in the real world not school world. There's 2 direction you can choose up to if you understand the concept. Left side of Y (Employee) and right side of Y (Fastlane). If not most likely you'll branch out the the left direction towards being an employee where most everyone is geared up to be since this is all they learn in school and from parents telling them go to school so you can get good grades. The other is the fastlane that you won't know, understand and learn until you realize, someone tells you (like this) or something happens in your life and go searching for answers.

The further you go on the stem branch the harder it is to jump on right side (fastlane) since you'll have OBLIGATIONS built up on left side of branch (mortgages, debts, car loans, doodads etc...expenses you didn't have when living with your parents or guardians) and be stuck working more hours to keep up paying it. No more time to plan. Your mind is used by your work partially for hours since this is how your earn in exchange for your time, by time you get home you'll be tired making your plan or even forgot about it. Instead of making plan, research etc... 10 hours you'll only have 1 hour? since you have to work 8 or so hours? You'll eventually make it but it'll take more time 10 yrs? (LEFT unknown direction) versus 5yrs? (RIGHT known direction). Make your plan wisely ahead of time and life will be a lot easier for you if direction is planned early on. Which way do you want the left branch (employee) or right branch (fastlane)? Now that you know and understood, please pass this along to your friends, brothers, sisters etc...before they leave home. And remember LOVE your parents and everyone around you. We are all here to help everyone succeed. HAVE FUN!

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"You only live once, have fun and challenge yourself" -Talkintoy-

I love my parents but would not live with them. Plus, what self respecting woman dates men that live with their parents past college age? I would rather live in a studio apartment driving a 20 year old Nissan eating bulk purchased brown rice, tuna and eggs.

Hey... Finally some rep points! Thanks Yves and Andviv!

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"You only live once, have fun and challenge yourself" -Talkintoy-

that's highly debatable. i lived at my parents house for a few years and then moved in with my brother when he purchased his first home. 8 months later i moved back home for almost a full year. i then moved into the home which i purchased almost 2 years ago. many of my friends still live at home. this is so they can save money and purchase their own house instead of renting. the area i live is tough to afford for the average single person. so instead of blowing money on rent, many have chosen to stay home longer to save up money etc.

Hopefully, if you are going to live at home, you will be working on a fastlane approach to owning your own home. Not just because it is cheaper and easier. Mom cooking and doing laundry, while you are sitting on the couch.

Developing and executing a strategy to quickly accumulate wealth to purchase your first asset. Maybe a quad or duplex, so someone else is making the payment or a large chunk of the payment. While getting the tax benefits and appreciation.

That is very true. Depending on plan i might add. Some might just want to stay and rent for little less than owning and use the excess in building something. This is the way i will be doing since i had a $3k mortgage that was eating us. Now i'll be renting temporarily for $1700 difference of $1300 x 12 = $15600 x 2 yrs = $31200 with no property tax and i'll be keeping the rest for building something on side. Problem is i noticed a lot of kids/people didn't understand or even know that there is another way which is the fastlane so they get lost going the only way that was taught instead of having another direction if they understood there is another way to make a difference.

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"You only live once, have fun and challenge yourself" -Talkintoy-

. . . and trust me, no self-respecting woman would think twice about dating ryanpal!!

I don't think anyone is advocating staying there until you're 40! Or even 30! But it's not uncommon in many cultures to live at home past college age. Like someone else said, if you aren't just there to mooch, but to save $$$, while helping out around the house, while also working on your fastlane plans . . . then I think most people (parents, friends, dates) would respect and understand that. We're only talking about a couple of years here. That's plenty of time to get on the onramp to your fastlane.

lol....

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"You only live once, have fun and challenge yourself" -Talkintoy-

Nice thread!

In my country is VERY common to not leave your parent's home until late 20's, I'm 25 and live with my parents in order to cut expenses and get on the fastlane earlier!

Jorge brings up a good point. In a lot of countries (not US) it is common for kids to stay in their parent's home until older or when they get married. A friend of mine is from China and basically, when he got married and "left", his parents just moved in with him! (He was the oldest son)

I think more and more are needing to be together as economy tightens up more. A lot more job cuts is happening around us. Retirees also lives with thier kids if possible. Some just don't believe in leaving them in retirement homes. This is the only way to get ahead now is fastlane!

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"You only live once, have fun and challenge yourself" -Talkintoy-

Same back in my country. I left home at 24 cause I moved here. My brother left at 27 when he left here. Why? Because it is too expensive and mid-class people many times can't afford a rent on their own.

coming back to the OP, this concept is very similar to what Kiyosaki mentions in his books. The longer you wait, the longer you are trapped in the rat race. In Hindsight, I should have wait to buy my first brand new car with minimum downpayment and a 5 year loan. That set me back a lot as it increased my monthly obligations. At that time I did not have any plan, just to retire at 65.

This is a great point, just want to emphasize. In some areas where the cost of buying land/building/mortgages are high, it can really pay (or rather, save) to rent for awhile. If you don't have your parents' home as an option, this can be a smart move. Avoiding the property taxes alone can be a good incentive until you're ready.

Another alternative is to move to an area that is more affordable. Look at the bottom line. If you earn less but also spend way less in this new area, you can probably come out ahead in the game.
Those in NYC, SF or LA will have a harder time as they will need way higher passive AND earned income to cover their expenses.

Very insightful, I feel like I'm just now seeing both branches and realizing freedom is the one for me

I'm glad its working. This is the impact and msg that I wanted to pass along to everyone that's lost and not knowing what they'll want someday. It's simple and clear msg. I come by a lot of kids in high school still not knowing what they want after graduating.

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"You only live once, have fun and challenge yourself" -Talkintoy-