Hi everyone, sorry in advance for the lengthy post and thank you for any help offered. It’s going to be long just to explain my situation / dilemma.
I’m 25 years old and living at home with my parents. I’m a teacher in NJ with about 40K in savings (had a few months unemployed so I would be at 60K but stuff happens I guess :/), 10K in a Roth IRA, and no debt.
My original plan was to move to Chicago in 2.5 years (2023) once I finish my masters that I’m starting in the Spring. I was hoping to buy property right when I get out there, but I guess renting originally is okay. I won’t bore you with details, but waiting 2.5 years to move to Chicago makes sense. So I’m not looking to move there sooner. I’ll be able to pay for grad school in full and shouldn’t have to take out any loans. Since my family lives close to my job, moving out seemed pointless since 1.) I don’t plan to be here too much longer and 2.) I’d live nearby and be paying a steep price in Northern NJ.
I have a post on here from last week, though, explaining my parents’ financial difficulties. That is frustrating enough to watch. But additionally we (4 people) live in a small apartment where I get no privacy and it’s driving me mad. My parents are very loving, but my father can be overprotective (again, I’m 25). I’ve never even had my own room as my brother and I have shared a room my whole life (I’m embarrassed to say that, but again, just painting the picture here).
I’m now contemplating moving out even though it was never my plan. I am somewhat worried though I’ll look back in 3 years if / when I move out to Chicago and I’ll be upset I spent so much money over the last 3 years on rent, when it’s money I could have saved.
Did anyone move out sooner than planned and end up regretting it? So basically I’m struggling with sucking it up for 2.5 more years or just doing the thing (moving out) and hoping it works out.
My one friend is interested but the NYC area is quite expensive (she works in NYC and I work nearby in Jersey) and it wouldn’t make sense to leave the area. We’d be looking at $1000 each (at least) or a little more if we want a 2 bedroom.
I make about $4500 (full time and part time job) for 10 months and then only $1000 for the 2 summer months.
Any suggestions? I know it’s obviously up to me, but I’d like to hear people’s input. Thanks again for reading and helping!
Submitted November 13, 2020 at 06:33PM by lovetoomuch10 https://ift.tt/2Usznqi
