There are, apparently, certain milestones a person ought to tick off during their lifetime…
Some of you (key word: you) already have your life-plan sorted. You know exactly when you want to be engaged (he just doesn’t know it yet); exactly how many kids you want, when you want them, and what you’re going to call them; and you’re so
boring stable in your career choices, that you know you’ll have enough money by the age of 60 to retire with, so that’s the rest of your life sorted. Ups to you.
For the rest of us, who have absolutely zero clue when anything is likely to happen, (because I have a hard enough time showing up in the morning, let alone planning for kids, dammit), there are, apparently, a number of milestones to look out for throughout the course of life… Moving out of home, wedding bells, pattering feet, blissful ‘golden years’ (not always in that order).
And, according to experts there are ideal ages for us to partake in these events if we want to reduce the risk of ‘failure’ .
(By ‘failure’ we’re meaning those things that aren’t really failures, they’re just those audacious and sometimes-heart-wrenching ‘learning opportunities’ – i.e. divorce, business closures, moving-out-of-home-then-moving-back-into-home-because-you-realise-you-can’t-actually-afford-anything… Millennials, I’m looking at YOU.)
To help guide you in the process of life sans life-plan, here are the milestones. And here are the ideal ages. Ready. Set. Go.
Moving out of home
The property market is conspiring against us on this one. Sure, when you were a child you thought you’d well and truly be free of your parent’s nest by the time you were at least 25. Jokes, just kidding, you didn’t realise Sydney was a property market for millionaires and investors, did you? At least you can save on venue hire when it comes to dirty 30 celebrations…
Nearly a quarter of people aged 20-34 in Australia are currently living with their parents, and this increases to 27% in cities like Sydney and Melbourne. More than half of those aged 25-29 have moved out, and then moved back home again… usually citing money problems for doing so.
But what about the ideal age? According to research by the University of Melbourne’s Household, Income and Labour Dynamics in Australia survey, people who moved out of the family home between 21 and 24 were in the best financial standing in terms of income and asset wealth when they reached the ages of 35-54. Those who lingered in the family home longer, or left home before the age of 18, were less likely to be so financially secure later in life.
Read: Get on it, Millennials.