The Voluntary Life: Financial Independence from Parents

24 January 2012

Financial Independence from Parents

This episode is about the freedom in adult life that is gained by achieving financial independence from parents. Jake talks about some of the findings of the book "The Millionaire Next Door" by Thomas Stanley. Dr Stanley surveyed people in America who had become millionaires within one generation and collected data on many aspects of their lives.  One finding that he identified was that adult-children who continue to receive economic subsidies from their parents tend to be much less successful in developing wealth within their own lives. Those who don't receive "economic out-patient care" end up wealthier and also have better relationships with their parents.

Podcast Episode

3 comments:

  1. As an eighteen year old who's finishing education and soon going to be working, with plans to begin a business in the future, I feel I need to say this:

    THANK YOU for these :-)

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    Replies
    1. You're welcome, glad to hear that you are finding them helpful :)

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  2. I think parents tend to respect their children if their young ones can show their parents they can take care of their self. Children who constantly get monetary support from their parents on the other hand tend to take things easy and live their life taken for granted. Of course this does not apply to all parents and children with such relationship but it is possible to happen in this point of view.

    More articles on investment and retirement at howtoretireplan.com.

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