Although the details may vary we all have that dream. You know the one. You throw your tasseled, square hat in the air and somehow it floats off. Or, you don’t bother to see what happened to that cardboard hat because you have already made a dash to the iron gates of your prestigious university. You are finally free to be an adult. You checked every box, passed all the right tests, and are headed to the career of your dreams. You jump into that convertible that all of your hard work has afforded you and head off to that green grassed, three bedroomed, 2.5 bathroomed house that you can finally afford because you are a college graduate. Or, perhaps, you are headed to that job you have always dreamed about. That colorful logo will greet you every morning as your work days are complete with trips to Starbucks, sinking in the leather office chair that is the centerpiece of you swanky glass office space, or business trips that puts numerous stamps in your passport. Right?
Well…statistics show that more and more college graduates are not able to buy their own homes until they pass the big 3 0. Twenty somethings don’t buy homes like they used to. 32% of millennials live at home with their parents and less college graduates share financial responsibility with their partner or spouse. With student financial debt averaging at about $30,000 that dream of graduating into “adulthood” seems to be further from what many are able to afford. Time to consider new passages into success.