Young lawyer saves $25K a year in rent by living with mom and dad
Posted Jul 24, 2013 1:50 PM CDT
By Martha Neil
John O'Connor is lucky on two fronts.
In a tough legal hiring market, the 26-year-old landed a job and is working as a litigator at a San Francisco area law firm after earning his law degree at the University of California's Hastings College of Law. And he is able to save some $25,000 in rent annually by living with his parents, he told the Wall Street Journal (sub. req.).
Such shared households are a growing trend, the article notes, due at least in part to a still-challenged economy. And they offer luxuries that may not be available to those renting their first apartments, O'Connor points out.
"Ultimately, I think the price is right—you've got all the amenities of living at home that you wouldn't have otherwise," O'Connor told the newspaper. "The washer and dryer at your place, the full kitchen all the time, and you're not living that rugged lifestyle. You get to eat steak and not ramen."