>The thing is, I really hate working.

If you don't want to work, don't buy a house.

Keep your lifestyle as cheap as possible.

Noted.

YES. Disconnect it immediately and if you need to send money to parents, you can send it to their account. Too many lives have been ruined by allowing parent to linger on accounts imo.

1. Set up a new account at a new bank
2. Write a check and deposit all your funds into the new account.
3. Close the joint account.

Just get a new bank account (at a new bank)and leave a small amount in the one your parents can access. When they need $$ you can transfer some in.

This gives the benefit of not offending them, and you can say “Oh xxxx and I got a joint account for our stuff”.

It also will cut down on them taking money if they have to justify each time they do, not just mention it after the fact.

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Self employment/what to charge per hour for services, why dropshipping/financial gurus are a scam, bad tiktok advice scams, etc

Nah but they could use the new account as the main tho and keep a small amount in the other account for the parents, ya kno?

That's how much you can gift annually without filing a gift tax exlusion form. Then there's an ADDITIONAL $12.9M (starting 2023) that you can gift and have excluded from taxes (hence - gift tax exclusion) over your entire life.

When you filed that form with the IRS, you were filing a form saying "I gave beyond my annual limit, but this additional amount should not be taxed because I have gifted less than $12.9M in my lifetime"

I would add to save/invest at least half of every raise.

I would also talk about the importance of an emergency fund and discuss what constitutes an emergency.

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Open another account just for you, an put auxiliary cash into there for them. An make sure they can’t pull a line of credit from your existing account. Not saying your folks would do that, but I did have one friend find out the hard way that her dad wreaked her shit with $50K+ in credit card debt. Can’t remember the whole story, but I do know they don’t talk anymore.

Yes. And this is the stuff that I need to kind of "prove out" to my wife that if everything is absolutely perfect, we can afford it. Literally any hiccup means digging into savings or emergency fund. It's no way to live in my opinion...

No way new. Repair what you have. Have you done any maintenance on it in the time you’ve had it?

Definitely go with this advise. All be aware that the bank probably won’t let you officially close the account without all account holders present. But you can drain it down to $50 or whatever and leave it alone after that (assuming it won’t get drained to zero from fees).

You can play with this a bit and see how international does annually. https://www.blackrock.com/corporate/insights/blackrock-investment-institute/interactive-charts/return-map

Vanguard's VWO int'l emerging fund has alibaba, tencent, tsmc

Yes. I like VTI as well. But VOO is great

No brainer to me. You pay down the 18% interest loan first. You're paying nearly 4x the interest on that debt. Paying the student loan first will free up some monthly cashflow, but will cost you much more in interest in the long run. The only motivation to do that is if you're struggling to make your payments every month.

it can. depends on the lender and the specifics of the loan

still likely to be better than raiding your 401k

Search Google for “Whole life insurance scam Reddit”.

Yes. Your friend took advantage of you for a commission.

Credit card debt - show what happens when you only pay the minimum.

Mutual fund fees, AUM fees, sales loads - what happens to investments when there is a 1% fee associated with the investments.

Why whole life policies don't make sense.

What happens when you start investing at age 22 vs. age 35.

Health insurance, why it's important to have it.

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Buying a house, I teach stocks and that takes a while, impact of going into debt, how to get out of debt

If you don't need unlimited data, I pay $300 annually to AT&T prepaid for 16GB/month. Works out to $25/month.

Also save you $900.