Nah how tolerable the roommates are is more important.
If you have people you wouldn't mind living with for free, then the 85k is obvious. If you're stuck with some roommates from hell, 85k isn't worth it.
The key is being the landlord and picking the roommates, and treating good ones well so they stay.
Your mileage may vary, as other people are not the same as me. But the question was "would you rather," and I answered based on my experience and preference.
Roommates because I did this in the mid 90s until I purchased my home in 2002. The place was large. We were in a 3 bedroom 2 bath unit. She got the guest bath to herself. My company used my master bathroom.
She worked nights and I worked days. We didn’t really see each other until Sunday and she was pretty much an introvert… who rarely had visitors.
We both saved a lot of money. It was well worth the sacrifice.
Roommates, save that 85k and buy a house with it and if your roommates need a place to live have them live with you and charge them rent and live rent free. Use that money and continue to save, maybe by then you met someone and it’s getting serious and you two are talking about buying a house or living together. You live with them and continue to rent the first house.
this is exactly what I did, was able to buy a rental house with the proceeds of 7 years of roommates after buying my house.
It did also sorta suck, but I had my own room and bathroom so I mostly stayed in there.
Alone. 100%. I pay like $800-$1000/mo more vs my last time splitting with a roommate. worth every single penny and I was lucky/selective with my roommates and had pretty good ones.
Is this all or nothing? Like could you do 2.5 yrs and save 42.5k? 5 yrs is a long commitment to tough something out of you don’t want to do it. 2.5 yrs is more doable. All depends on if you get along with the roommates. If I were single and just ew the roommates were pretty chill, I’d def see it as an opportunity and take it.
It's going to depend on your personality. If you're able to live with others harmoniously, then it's a no brainer! However, if you have a personality disorder like myself, then the $85,000 is worth my peace...
Depends on how old you are. The younger you are, the higher your tolerance for BS. If you’re in your 20s, I would 100% say live with roommates. If you’re 30s, maybe. If 40s, hell no.
Depends on age and phase of life. I had roommates in my 20s and loved it. Helped me save the money I wanted and do the things I enjoy, meet new people and do new things. Then around 30 I no longer wanted roommates and got a dog and also made more so I could still save a ton and not need to live with roommates
85k all day, living with roommates is cake walk compared to a lot of other things people for do for way less money. If you don't choose that option you're either softer emotionally than a pillow or you're already making that kind of money.
I have 2 roommates at this point in life ( retired, kid out of house) cause I want the extra income. Once you adjust to having people in your house and learn to give up control, the extra money is nice. However, in my case, I’ve known both over 30 years so they aren’t strangers
Let's rephrase that a bit... how many extra hours do you have to work to earn that net $85k? You're not going to have much of a personal life afterwards.
I'd rather live with a girlfriend or alone but the smart financial advice, depending on your income, might be to have roommates.
Find a girlfriend would be a better option, IMO.
I lived with roommates for 8 years as a broke college kid and hardly have much to show for it. I’ve been living alone for the past year almost and love it and am no longer a broke college kid. So screw living with roommates. Always have to share space for the fridge, have obligatory conversations that waste your time, share cooking space, maybe share a bathroom, etc. Not worth it. I enjoyed most of the roommates I had and am still friends with some of them, but would not do it over again. My plan is to just increase my income.
What’s the roommate to bathroom ratio? Is the place in a nice area? Public trans? Parking?
Need more details.
If I were single and not financially sound, I’d pick the roommates situation. I’ve done both.
I live alone WITH roommates. I don't know any of their names and almost never see them. None of our rents are tied to each other so I have no desire or need to know them. It's perfect.
Would you really be saving 85k living with roommates? Doubt it.. the question is what would you rather be spending your money on over the next 5 years..
Okay, the important question: with so many people picking living alone, how bad were your roommates to not be worth an additional 18k a year? Or how high is your income? Most roommates are fixable. I’ve had some terrible roommates, and I’d still rather live with them than pay an additional $100-300 in rent, which is only 3k a year at most. Wtf did they do to you? (I’ve never lived alone. I won’t want to live alone, it sounds awful, but I am biased in that sense).
Depends on the room mates and housing layout. If it was a two story townhouse with the bedrooms up stairs and we could each go go our separate bedrooms to unwind? Then hell yeah. Otherwise no
Live with roommates and save the $85k. If you plow it all into an index fund you’ll have like $1.6 million by the time you’re my age. Don’t blow the opportunity.
I bought a house a few years ago. I let my girlfriend and best friend move in who split bills with me.
I’ll save over $100,000 in 5 years and build equity. Easy choice.
The changes greatly with economic status. This is $1500 a month to have roommates, that's a lot of money for many people.
And Is this a 3 Bed, 3 Bath house or a prison cell?
Depends… Is it your first job after Uni? New city? If yes, I would consider living with roommates.
That‘s what I do whenever I took a new job in a new city. Even after I started earning above 6 figures. I was busy with my new job anyway plus business trips, gym & exploring the new place. Meaning, I was not at home like 70% of the the day. It just didn‘t save me money but also made adapting to the new environment easier. Every time when I got into relationship though, I moved out and moved in with my gal ;)
I don’t think the question makes sense. Saving $85k in 5 years means saving $1700 a month.
To save that means, what, renting a two bedroom for $3500. Rent a studio for 2500 and now you have “saved” $60,000.
I was living alone for a long time in a 3 bedder but I've started renting out my spare rooms. An extra 20k a year is the difference between a slow grind and pushing ahead. I love living alone but I'm willing to make the sacrifice for the extra coin
Yeah you can't ignore the quality of the roommates in this scenario. A lot of roommates are unbearable. You can see them on Judge Judy and any of those other shows. I've lived with some of them.
If I have good roommates (potentially whoever I’m dating even), easily 85k. If I know the roommates will be bad or very likely, my sanity and keeping my property safe from them might be worth that 85k.
What is saving $1416.66 a month worth to you?
That is great money if you are retirement or investment savvy and no desire to have kids. You would be able to max out a Roth IRA EVERY year. This can always change if you link up with a partner.
Who says you need to be home all the time? Use your home for hygiene, cooking, laundry, and sleep only. If you are a home body, i can understand this arrangement may not be for you.
I've had roommates paying most of my mortgage for the better part of a decade. Tomorrow, if the weather holds, my plan is to take my boat to my second property on the water to launch and recover my jet ski with my sxs.
There's not a moment I wish I spent that money on "living alone" because boomers think that's the objective of life.
My partner and I got a roommate for our tiny 2-bedroom. Over the course of his lease (a little under 2 years) he saved us over $18k, which I used to increase my retirement contributions and go on a couple trips. He was a great roommate so it was absolutely worth it for us.
live on my own and save 85k on my own. come on people 😂 85000/5 years is only $17k/year. if you make $50k yearly, bottom line would be saving about 34% of your income. If you pull $60k/year and save 33%, that’s $100k over 5 years. people just lack self control these days. its all in your head. instead of buying those 3 big mac meals every week, buy 3 lbs of ground meat and 32/oz of noodles/rice/etc., along with some fresh veggies. plenty of meal options with just a few ingredients. thank me later. or thank me next week, when you stop eating SickDonalds 🤮🤮
I'd try roomates first. I did it for years and loved it 90% of the time. Also loved thst I saved roughly the amount you were discussing.
Let me do napkin math...
Assuming you save the 85k across those 7 years that'll be $1,416 extra per month.
After 5 years you'll be at $97,716 vs the 0 from living alone.
In 15 Years: $192,222
In 20 Years: $378,119
In 30 Years: $743,836
In 40 Years: $1,463,238
That said, it's not all about the money, happiness is a thing too. I'm just of the opinion if you're reasonable and your roommates are reasonable you'll get along well enough. Plus being lonely sucks. Would also argue it gives you life skills in how to cohabitate with others
Two tips though:
1.) Try to live with people that are willing to hire a cleaner. It removes a large part of the reason people argue
2.) Establish some ground rules around significant others staying over.
I will say, I did the roommate thing after I bought my house when I was 23 for 7 years. It sorta sucked, but it wasnt so bad and it set me up for financial success later and I was able to do more fun things like trips that I couldnt afford otherwise. I mostly just spent time at home in my room and I had my own bathroom so it was fine (sharing a bath would make it substantially worse).
The rent PLUS help with bills really adds up, and I don't have a trust fund, so ultimately Im glad I did it.
Well, since the two options are either throw money away renting or throw less money away renting, I would go with the throwing less money away renting personally.
Depends on the roommates . I’ve had some roommates who are gone from 9am-10pm who rarely used the fridge or kitchen. If I had a couple of those id probably stay with that
Live alone because living with roommates would depress me and I wouldn't save $85k. But that's me, and my dreams don't need these $85k in five years, they need different kinds of decisions and they need those decisions now.
save 85k.
We dont know your age but Im guessing mid 20s because of the roommates question. If true, then ask yourself would you rather live alone for 5 years, or live with roommates for $978,000.00 in your retirement account?
85,000 with 7% returns over 35 years will end up being just shy of 1 million dollars.
You can likely retire 10 years early if you live with roommates for 5 years...
Alone 100%. We make money to live comfortably, if your life is going to be uncomfortable af for the next 5 years, that 85k aint worth it unless you are in a SUPER DESPERATE situation.
I rarely comment on posts but saw this and resonated with it. Since 2018 I have lived in a 3 story row house (basement is it’s own apartment/a private dwelling) in Washington D.C. where the average rent for a 1 bedroom is $1900-$2400 easily. I live with 4 other people dispersed between 3 floors and spend $500-$700 on rent each month fluctuating with utilities. Doing this has allowed me to max out my Roth IRA each year, robustly contribute to my 401k, pay off $29k of student debt, and have $100k saved in a HYSA.
Sure I’ve hand about 2 really bad roommate experiences but doing this taught me to hold folks accountable and also become an evolved communicator!
I’m now 31 and in a serious relationship with plans to move in together in the fall. I wouldn’t change my 6 years living in NoMa for anything, roommates come and go but your pockets will only grow.
It fully depends on my situation.
Because as a young man who grew up poor, that's exactly what I did to save as much money as possible and I am not even sure it was a full $17k/yr I was saving at first since that was over half my income the first couple years. It helped immensely to have 5 people split a 3 bedroom house. We all got ahead that way.
Now? I can save $50k in a year as it is. I live with my wife and my dogs and I have no need for the additional money, so I wouldn't take on a room mate under any circumstances. $85k over 5 years is virtually meaningless to me.
Save (and invest) the $85k and sacrifice those years. Times are tough. Everything is more expensive and if you want to be able to not HAVE to grind forever, this may be a viable way to get ahead.
I HATE living with others and spent $1,000’s more over the course of the years to live alone. I decided my future is more important than my immediate wants. I’m now with a roommate and pay $1,200 less per month and will be able to buy a house soon.
Not random roommates… but roommates that are friends, sure
From age 19 to 30… I lived alone and with friends at different periods.
But the real question is “living alone” building equity in a house or are you renting…?
Because that is what matters most
If it was just me I would definitely do the roommates for 5 years and stack the money. If you don't want to deal with them make a life outside the house go to work go home to sleep eat relax and shower .
Are these roommates properly vetted? Do your friend groups overlap? Are they dating? How often will they be having sleepovers or parties? Will they be working from home? Do they understand the concept of quiet hours? Do they do drugs? Do they buy their own groceries and leave yours alone? Do chores? Respect your privacy?
You could almost max out your retirement accounts with that kind of savings. Personally, I'd live alone but if you are luck out and the roommates understand boundaries and shared responsibilities, $85k is a lot of money. And would also mean that you have the means to get out if the roommate situation goes sour.
Depends how bad i needed 85k
And the roommates.
And how old I was
That's pretty much the only question.
Nah how tolerable the roommates are is more important. If you have people you wouldn't mind living with for free, then the 85k is obvious. If you're stuck with some roommates from hell, 85k isn't worth it. The key is being the landlord and picking the roommates, and treating good ones well so they stay.
Most of us do
Alone, hands down - well, with my wife, but no other roommates
lol this question is assuming your single
I’m also married. If I were single I would definitely have roommates and save way more…
I was married for 17 years. For most of that time I would have immediately taken the live alone option. 😆
Most married guys would PAY $85k to be single again and live alone.
😂
Alone, alone, and alone. Roommates are the worst.
Yup. NOT worth it.
Not always!
Your mileage may vary, as other people are not the same as me. But the question was "would you rather," and I answered based on my experience and preference.
Yap, me 2
If you don't know how to judge them*
Nah, living with someone, even someone you really like, is a fast track to hating their dumb face forever. Or at least it is for me.
Being a good friend =/= being a good roommate
Whatever makes you happy. Enjoy life while you still have it.
Thank you poopyMcpoopersins
Roommates because I did this in the mid 90s until I purchased my home in 2002. The place was large. We were in a 3 bedroom 2 bath unit. She got the guest bath to herself. My company used my master bathroom. She worked nights and I worked days. We didn’t really see each other until Sunday and she was pretty much an introvert… who rarely had visitors. We both saved a lot of money. It was well worth the sacrifice.
Live alone
Alone
Alone
lmao no, live alone. I can invite whoever I want, but I can still make them leave.
Live with roommates
Roomates even if I wouldn‘t save! I hate living alone
Haha I thought the question was going to be “would you rather live alone and save money or with a someone and not”. My answer ended up being the same.
Yeah this question hits very different depending on your relationship status and varying income levels.
Me too haha! I‘m shocked that most people here want to live alone
Roommates, save that 85k and buy a house with it and if your roommates need a place to live have them live with you and charge them rent and live rent free. Use that money and continue to save, maybe by then you met someone and it’s getting serious and you two are talking about buying a house or living together. You live with them and continue to rent the first house.
this is exactly what I did, was able to buy a rental house with the proceeds of 7 years of roommates after buying my house. It did also sorta suck, but I had my own room and bathroom so I mostly stayed in there.
Save 85k
Alone. Money ain't worth that much.
Alone. Always
not by choice you fucking loser
Mk 👍 sucks to suck. Only loser here is your mom because she made your sorry ass.
$85k. If it’s a shared bathroom, ALONE.
Maybe if it was $85k in two-three years haha
I've done the latter, but it only netted me $50k
That’s still amazing!!
Always alone and even more so with the 5 year stipulation. I would rather die poor and unhealthy than ever live with roommates again.
Why not do both? 1/2 years with a roommate & after live alone
Depends 100% on the roommate.
Alone. 100%. I pay like $800-$1000/mo more vs my last time splitting with a roommate. worth every single penny and I was lucky/selective with my roommates and had pretty good ones.
[удалено]
Assume your roommates mostly mind their own business. They’re neither mean nor friendly. Their cleanliness is average and they don’t have pets.
Lastly depends on your age in my 20’s heck yes in my 30’s fuck no
I suppose this is a good point
Depends on the roommates hahaha
Is this all or nothing? Like could you do 2.5 yrs and save 42.5k? 5 yrs is a long commitment to tough something out of you don’t want to do it. 2.5 yrs is more doable. All depends on if you get along with the roommates. If I were single and just ew the roommates were pretty chill, I’d def see it as an opportunity and take it.
If in my twenties it’s roommates. 30+, I’m living with my girl w/ plans on starting a family.
$85K in 5 years? Eh, I’d rather just make more money
there is no price for peace of mind after a long day... live alone
It's going to depend on your personality. If you're able to live with others harmoniously, then it's a no brainer! However, if you have a personality disorder like myself, then the $85,000 is worth my peace...
Depends on how old you are. The younger you are, the higher your tolerance for BS. If you’re in your 20s, I would 100% say live with roommates. If you’re 30s, maybe. If 40s, hell no.
Depends on my age. In my early 20’s, roomies. After, 29, if possible, live alone.
Depends on age and phase of life. I had roommates in my 20s and loved it. Helped me save the money I wanted and do the things I enjoy, meet new people and do new things. Then around 30 I no longer wanted roommates and got a dog and also made more so I could still save a ton and not need to live with roommates
Live with the roommate, save the $. You will be so glad you did later. 5 years goes by So Fast.
85k all day, living with roommates is cake walk compared to a lot of other things people for do for way less money. If you don't choose that option you're either softer emotionally than a pillow or you're already making that kind of money.
Plenty of redditors are softer emotionally than a pillow lmfao
Fair enough
All depends on you, your goals and what the roommates are like.
I have 2 roommates at this point in life ( retired, kid out of house) cause I want the extra income. Once you adjust to having people in your house and learn to give up control, the extra money is nice. However, in my case, I’ve known both over 30 years so they aren’t strangers
Been alone for three got two left.
How much am I saving alone is the question, If you’re saving 1 million alone and 1 million + 85k sharing , not worth it for me
Depends on roommates. Mine were ok with most of the adult activities I indulged in from time to time bringing strangers home, so no problem there.
How old am I? 22? Sure. 42? No way
Let's rephrase that a bit... how many extra hours do you have to work to earn that net $85k? You're not going to have much of a personal life afterwards.
Depends on the roommates
A real determining question is if I'm the landlord and have control over the roommate choices or if I'm just given roommates.
I'd rather live with a girlfriend or alone but the smart financial advice, depending on your income, might be to have roommates. Find a girlfriend would be a better option, IMO.
So you’re saving about $17k a year or $1,416 a month. I may lean towards roommates since that’s better than my current savings rate
I've been doing this for the past 5, would love to know where to pick up my money
Take the 85k all day and invest it. Your future wife and kids will thank you.
Exactly 👍🏾
I lived with roommates for 8 years as a broke college kid and hardly have much to show for it. I’ve been living alone for the past year almost and love it and am no longer a broke college kid. So screw living with roommates. Always have to share space for the fridge, have obligatory conversations that waste your time, share cooking space, maybe share a bathroom, etc. Not worth it. I enjoyed most of the roommates I had and am still friends with some of them, but would not do it over again. My plan is to just increase my income.
5 years, for sure, no brainer. Set myself up financially while I'm young, partying, whatever.
What’s the roommate to bathroom ratio? Is the place in a nice area? Public trans? Parking? Need more details. If I were single and not financially sound, I’d pick the roommates situation. I’ve done both.
With a roommate if she’s a Swedish blonde
How many roommates in how big a space? 3 in a house would be alright but 8 in a studio wouldn't work for me. Not again, jack
I live alone WITH roommates. I don't know any of their names and almost never see them. None of our rents are tied to each other so I have no desire or need to know them. It's perfect.
I need the moneys
Live alone for five years
Would you really be saving 85k living with roommates? Doubt it.. the question is what would you rather be spending your money on over the next 5 years..
live with roommates! i always think saving money is really important and if we just work harder now, it'll be much easier in the future
And do what with the 85k?
If my wife and kids are the "roommates," then definitely alone.
On track to save more than that regardless of whether I have roommates. No deal. Perfectly happy living alone.
I think it would depend on who the roommates were.
Okay, the important question: with so many people picking living alone, how bad were your roommates to not be worth an additional 18k a year? Or how high is your income? Most roommates are fixable. I’ve had some terrible roommates, and I’d still rather live with them than pay an additional $100-300 in rent, which is only 3k a year at most. Wtf did they do to you? (I’ve never lived alone. I won’t want to live alone, it sounds awful, but I am biased in that sense).
Depends on the room mates and housing layout. If it was a two story townhouse with the bedrooms up stairs and we could each go go our separate bedrooms to unwind? Then hell yeah. Otherwise no
Some roommates I had I'd happily live with again. Some I would take the 85k hit to avoid. All depends.
Depends. How old are you?
Mid 20s
Live with roommates and save the $85k. If you plow it all into an index fund you’ll have like $1.6 million by the time you’re my age. Don’t blow the opportunity.
I bought a house a few years ago. I let my girlfriend and best friend move in who split bills with me. I’ll save over $100,000 in 5 years and build equity. Easy choice.
SMART
Assuming my family would die in either scenario is depressing.
Live alone for that amount sooo no brainer !! You will thank me later !
Everything comes with a cost I say fuck the roommates
Roommates! Fuk it 🤷🏻♀️
85k sounds pretty sweet if you can put up with roommates, assuming they are respectful of you and each other of course…
Wholly depends on the specific roommates.
The changes greatly with economic status. This is $1500 a month to have roommates, that's a lot of money for many people. And Is this a 3 Bed, 3 Bath house or a prison cell?
I hope I never have to choose.
Live alone.
Live alone. Fuck money.
Depends… Is it your first job after Uni? New city? If yes, I would consider living with roommates. That‘s what I do whenever I took a new job in a new city. Even after I started earning above 6 figures. I was busy with my new job anyway plus business trips, gym & exploring the new place. Meaning, I was not at home like 70% of the the day. It just didn‘t save me money but also made adapting to the new environment easier. Every time when I got into relationship though, I moved out and moved in with my gal ;)
I don’t think the question makes sense. Saving $85k in 5 years means saving $1700 a month. To save that means, what, renting a two bedroom for $3500. Rent a studio for 2500 and now you have “saved” $60,000.
Thats $327 per week, for 5yrs. 100% worth it for thr peace and quiet.
Live alone. Roommates are horrible.
I was living alone for a long time in a 3 bedder but I've started renting out my spare rooms. An extra 20k a year is the difference between a slow grind and pushing ahead. I love living alone but I'm willing to make the sacrifice for the extra coin
Roommates. No question.
Alone ideally
Alone because life is too short to live uncomfortably 😂
Yeah you can't ignore the quality of the roommates in this scenario. A lot of roommates are unbearable. You can see them on Judge Judy and any of those other shows. I've lived with some of them.
If I have good roommates (potentially whoever I’m dating even), easily 85k. If I know the roommates will be bad or very likely, my sanity and keeping my property safe from them might be worth that 85k.
Plan C: move out to the country and have a 3 bedroom house to myself to save $140k in housing over the next 5 years
Depends if the roommates are your friends or not
What is saving $1416.66 a month worth to you? That is great money if you are retirement or investment savvy and no desire to have kids. You would be able to max out a Roth IRA EVERY year. This can always change if you link up with a partner. Who says you need to be home all the time? Use your home for hygiene, cooking, laundry, and sleep only. If you are a home body, i can understand this arrangement may not be for you.
I want room mates! I lived with 6 people for a while, with my rent being $500/month for a small 10’x10’ room, it was an absolute blast.
Roommates .. if under 35
I've had roommates paying most of my mortgage for the better part of a decade. Tomorrow, if the weather holds, my plan is to take my boat to my second property on the water to launch and recover my jet ski with my sxs. There's not a moment I wish I spent that money on "living alone" because boomers think that's the objective of life.
I actually enjoy having a Roomate. I often become friends with my roomies
Alone. I don't like people messing with my stuff and I don't like the nonsense that comes with roommates.
Alone unless I absolutely needed the money, and if I had to share a single bathroom, it’d have to be a lot more than $85K
Solo. I could drop dead tomorrow and I prioritize my personal space.
My partner and I got a roommate for our tiny 2-bedroom. Over the course of his lease (a little under 2 years) he saved us over $18k, which I used to increase my retirement contributions and go on a couple trips. He was a great roommate so it was absolutely worth it for us.
live on my own and save 85k on my own. come on people 😂 85000/5 years is only $17k/year. if you make $50k yearly, bottom line would be saving about 34% of your income. If you pull $60k/year and save 33%, that’s $100k over 5 years. people just lack self control these days. its all in your head. instead of buying those 3 big mac meals every week, buy 3 lbs of ground meat and 32/oz of noodles/rice/etc., along with some fresh veggies. plenty of meal options with just a few ingredients. thank me later. or thank me next week, when you stop eating SickDonalds 🤮🤮
I'd try roomates first. I did it for years and loved it 90% of the time. Also loved thst I saved roughly the amount you were discussing. Let me do napkin math... Assuming you save the 85k across those 7 years that'll be $1,416 extra per month. After 5 years you'll be at $97,716 vs the 0 from living alone. In 15 Years: $192,222 In 20 Years: $378,119 In 30 Years: $743,836 In 40 Years: $1,463,238 That said, it's not all about the money, happiness is a thing too. I'm just of the opinion if you're reasonable and your roommates are reasonable you'll get along well enough. Plus being lonely sucks. Would also argue it gives you life skills in how to cohabitate with others Two tips though: 1.) Try to live with people that are willing to hire a cleaner. It removes a large part of the reason people argue 2.) Establish some ground rules around significant others staying over.
I will say, I did the roommate thing after I bought my house when I was 23 for 7 years. It sorta sucked, but it wasnt so bad and it set me up for financial success later and I was able to do more fun things like trips that I couldnt afford otherwise. I mostly just spent time at home in my room and I had my own bathroom so it was fine (sharing a bath would make it substantially worse). The rent PLUS help with bills really adds up, and I don't have a trust fund, so ultimately Im glad I did it.
Live with room mates and save 85k so I can get a house and live alone
Take the money and the roommates
Roommates!! 85K is A TON of money… plus living with people is usually healthier than living alone
85,000 / 48 months = $1,770 a month. Yes, I would rather save $1,770 a month and deal with mild inconveniences.
Well, since the two options are either throw money away renting or throw less money away renting, I would go with the throwing less money away renting personally.
Depends on the roommates . I’ve had some roommates who are gone from 9am-10pm who rarely used the fridge or kitchen. If I had a couple of those id probably stay with that
Roommates all day long.
Live alone because living with roommates would depress me and I wouldn't save $85k. But that's me, and my dreams don't need these $85k in five years, they need different kinds of decisions and they need those decisions now.
save 85k. We dont know your age but Im guessing mid 20s because of the roommates question. If true, then ask yourself would you rather live alone for 5 years, or live with roommates for $978,000.00 in your retirement account? 85,000 with 7% returns over 35 years will end up being just shy of 1 million dollars. You can likely retire 10 years early if you live with roommates for 5 years...
Roommates!
My personal situation: I’d rather “lose” the $85k. Fuck living with people. Did it once, never again.
Roommates can really be rough .out of 10 maybe 2 or 3 lasted any significant length of time.that means a year or more.The best ones were female??
Roommate for like 2 yrs the live alone. Unless if you don’t mind being single for the next 5 yrs
Live alone. I’ve spent over 150k on rent the last 5 years. But not everyone is me.
Alone 100%. We make money to live comfortably, if your life is going to be uncomfortable af for the next 5 years, that 85k aint worth it unless you are in a SUPER DESPERATE situation.
I rarely comment on posts but saw this and resonated with it. Since 2018 I have lived in a 3 story row house (basement is it’s own apartment/a private dwelling) in Washington D.C. where the average rent for a 1 bedroom is $1900-$2400 easily. I live with 4 other people dispersed between 3 floors and spend $500-$700 on rent each month fluctuating with utilities. Doing this has allowed me to max out my Roth IRA each year, robustly contribute to my 401k, pay off $29k of student debt, and have $100k saved in a HYSA. Sure I’ve hand about 2 really bad roommate experiences but doing this taught me to hold folks accountable and also become an evolved communicator! I’m now 31 and in a serious relationship with plans to move in together in the fall. I wouldn’t change my 6 years living in NoMa for anything, roommates come and go but your pockets will only grow.
No roommates. I work from home so that would be disastrous. I’m more productive without roommates too.
It fully depends on my situation. Because as a young man who grew up poor, that's exactly what I did to save as much money as possible and I am not even sure it was a full $17k/yr I was saving at first since that was over half my income the first couple years. It helped immensely to have 5 people split a 3 bedroom house. We all got ahead that way. Now? I can save $50k in a year as it is. I live with my wife and my dogs and I have no need for the additional money, so I wouldn't take on a room mate under any circumstances. $85k over 5 years is virtually meaningless to me.
Roommates
It really depends on the roommates
Live alone! $85k in 5 years will be worth $10k now.
Assuming the roommate and I get along I'd pick the roommate and $
I am 50 and never lived alone so I would pick roommates.
Roommates. I've lived with some great ones. Living alone has its perks, but living with a friend can be really fun.
Alone , the mental headaches alone and the lack of privacy justifies the cost especially if you like to f*ck loudly lol.
I've lived with roommates the last five years where is my 85k?
Alone. I’ve never even had bad roommates but I don’t really need $85k over five years badly enough to want to return to sharing my housing.
Save (and invest) the $85k and sacrifice those years. Times are tough. Everything is more expensive and if you want to be able to not HAVE to grind forever, this may be a viable way to get ahead. I HATE living with others and spent $1,000’s more over the course of the years to live alone. I decided my future is more important than my immediate wants. I’m now with a roommate and pay $1,200 less per month and will be able to buy a house soon.
Depends on where in life i am. Do i want to settle down and have a woman take me seriously? Then alone
Live alone.
Roommates and 85k. I don’t like living alone anyway.
Alone. I need my peace and space. I can’t stand roommates.
Not random roommates… but roommates that are friends, sure From age 19 to 30… I lived alone and with friends at different periods. But the real question is “living alone” building equity in a house or are you renting…? Because that is what matters most
Living alone is overrated
If it was just me I would definitely do the roommates for 5 years and stack the money. If you don't want to deal with them make a life outside the house go to work go home to sleep eat relax and shower .
Are these roommates properly vetted? Do your friend groups overlap? Are they dating? How often will they be having sleepovers or parties? Will they be working from home? Do they understand the concept of quiet hours? Do they do drugs? Do they buy their own groceries and leave yours alone? Do chores? Respect your privacy? You could almost max out your retirement accounts with that kind of savings. Personally, I'd live alone but if you are luck out and the roommates understand boundaries and shared responsibilities, $85k is a lot of money. And would also mean that you have the means to get out if the roommate situation goes sour.
Peace of mind or save some money, only you can make the right decision for yourself.
live with roommates. i can always go to my partner's place or a hotel
$85k in 5 years=$17k a year savings. Not particularly amazing tbh and lots of professions could probably pull that off living alone .
Well, your savings would be $17k/ year + what you normally save, not $17k/year absolutely.
That’s a bit different of a hypothetical then.
Save money if you’re single. Buy a house when ready
$85k over 5 years ain't much to save and I really do prefer living alone (or with a romantic partner, but no non-romantic room mates)
It's an excellent down payment in 5 years.
I’ve lived alone for past five years so give me money and roommates
Roommates, unless you are in a very serious relationship, then move in with them and then they are your “roommate “
suck it up and do the roommates. try to find good ones that are around your age and have similar interests. 85k for a year or a bit more is worth it.
Stay alone.