Millennials, live like me and “get out of your comfort zone” if you want to generate money: Work six days a week, live with your parents, purchase a home one hour and twenty minutes outside of the city, and get roasted by your friendsYoung adult ridiculed for purchasing a home outside of SydneyJosh, 33, bought a house 60 kilometres from the city.His friends made a joke about needing a “passport” to travel.For Daily Mail Australia, write Olivia Day Accessed: 08:11 EDT, August 31, 2023
A young truck driver who constructed a home 60 kilometers outside of Sydney after putting through 60-hour work weeks and lived with his parents claims that his friends brutally roast him. Josh, 33, said his pals made fun of him by saying they would need a “passport” to visit his new house in Narellan, which is roughly one hour and twenty minutes’ journey from the city’s central business district.However, the trucker now believes he has the final laugh.He is one of the few millennials who purchased a home in his 20s and utilized it as the foundation for his real estate business, which now includes two investment properties.
Josh is now criticizing other people in his generation, telling them to leave their comfort zones and take calculated risks in order to succeed. Josh said to SBS Insight, “I bought in a place where I was teased a lot.” “We can’t come see you, we’ll need a passport, and there’s nothing over there,” they added.It was in a remote area of Sydney that had grown wonderfully in the eight or nine years I had spent there.
Josh put in long, arduous shifts as a truck driver to pay his mortgage, frequently toiling for 14 hours per day, six days per week.
Josh revealed that at one point he had to work three jobs to make ends meet, and that it was not always “comfortable.”He told Daily Mail Australia, “I went from studying finance to driving a truck.””I used to think a job like this was beneath me.” You won’t always feel comfortable; in order to succeed financially, I had to step outside of my comfort zone.Josh, who is now married, had to alter his work/life balance when his excessive hours began to negatively affect his relationship.He remarked, “I would work six days a week from 5.30am to 6pm all for a nice day out shopping and buying designer things.””A few weeks’ worth of extra pay went toward a handbag.”
We discussed what we wanted from life and from each other because (my wife and I) were still going to miss each other and become irritable because we weren’t seeing each other. Josh aims to reduce his workweek from six days a week of up to 60 to 70 hours to three to four days of 40 to 50 hours.Josh and his spouse just decided to purchase a brand-new house in a rural area of NSW.
The couple intends to settle in the coming month and then retire after a few years. Prior to pursuing Josh’s ambitions of starting his own farm and making beer, the couple intends to work and travel for a while.In a few years, I should be able to turn the switch, he replied. Kumi Taguchi, the host of SBS Insight, asked Josh if he believed his attitude toward property ownership was unique for people his age. Somewhat, was his response. I’m not sure if it’s because I studied finance or just because I think in numbers. I’m also terrible at handling emotions and other similar things.
I therefore excel at letting go of emotions and focusing just on the big picture, what will happen, and what I need. According to economist Gareth Bryant of the University of Sydney, the difficulty of buying a home is not a boomers vs millennials issue.
He claimed that the key factor was home wealth, or the possession of real estate. According to Mr. Bryant, it’s nearly impossible for young people to save for a significant deposit even if they take on one or two extra jobs and practice conservative spending.
The fortunate millennials are individuals who entered the real estate market early and have profited greatly or have family members who are already homeowners.
The majority of young people, according to Mr. Bryant, who purchase homes in Australia’s competitive property markets do so with the aid of the “bank of mom and dad.”Australia has extremely unequal income to wealth ratios as a result.He told Daily Mail Australia, “Historically, the way to buy a house was to get a job, save money, buy the house, and pay it off when you retired.””House prices are now significantly higher than incomes.” Homes once cost up to two or three times the average income; now they cost seven to ten times as much.Less than 50% of millennials can afford a house at the same age, compared to two-thirds of baby boomers who had purchased a home by their early 30s.Share on Facebook «||» Share on Twitter «||» Share on Reddit «||» Share on LinkedIn