Personal finance recommendations are not one-size-fits-all. This is exactly the reason.

This makes me wonder: Are we overly dehydrating society, out of fear that they will be financial disasters if they don’t hit certain cash milestones quickly?

A report from the Pew Analysis Center made headlines about how today’s youth are lagging behind in 5 frequently cited standards of adulthood.

Examining Census Bureau data, Pew found that 21-year-olds are much less likely to hold a full-time job, get married, be financially sovereign, or maintain their own existence than their predecessors of four decades ago. Or have a child. Financially sovereign was defined as a revenue source of at least 150 percent of the poverty line.

According to Pew, in 2021, about 68 percent of 25-year-olds were not living with their parents, compared to 84 percent in 1980.

This brings me to the column I wrote on monetary indicators for graduates. Readers had plenty to mention, some disagreeing with my advice, including paying off student loans before investing in escape and not rushing to buy a house now.

Here are my responses to those who heeded my guidance.

I said: Ignore the collective “they.”

They will tell you that renting is a waste of cash. It is not there anymore.

Comment: “Buy as soon as possible and rent out rooms to friends,” wrote one reader.

What happens when all the friends suddenly move out? Or they are fired – first to hire, first to fire. Like a lot about non-public finances, it has to do with the financial situation of the individual.

According to a Washington Post study of Bureau of Labor Statistics data, Gen Z — those ages 12 to 27 — suffer disproportionately from higher consumer costs, housing costs, automotive insurance and large student loan balances.

So, disagree, the math doesn’t always play out in home buying, especially for young adults who don’t have time to set aside enough cash to weather a financial downturn or stave off a significant home-maintenance expense.

I’ve been at this for a long hour. I work with a group of societies, which gives me a close view of the way people keep their money, in terms of different sources of income and age. Just because it actually works on paper, doesn’t mean it actually works in the real day.

Someone else took my side, writing: “There are a lot of unknowns at the beginning of a career – relocating for a job or graduate school, meeting someone important (who) works in the other direction. Our financial advisor advised my 20 year old son to wait until he knows he will be staying in one place for 5-7 years or until he gets married.

I said: Sure, young adults should invest so they have cash to beat inflation. But when they’re leaving college with debt, take that on first. They still have an hour to invest.

Comment: “Putting (yes, ‘investing’) some money into a retirement account as a young person — especially if there’s a healthy employer match — is likely to be a very wise financial decision.”

I agree that, in some circumstances, it makes sense for the employer to have sufficient cash on hand. On the other hand, for those coming out of school with significant debt that will take them a long time to repay, it is better to get rid of that legal responsibility before alternative responsibilities eventually pile up into student-loan bills.

This is what I witness – constantly.

Many graduates do not focus on their student loans and put the debt into forbearance through laziness.

On the other hand, even the closer they start earning the right cash, they stock up on paying off debt. They later have kids, buy property and are living like they have no debt, taking vacations and living life their own way. As the hobby is being capitalized, the debt helps keep it growing.

Now in their 40s and 50s, they are nervous about paying off loans before leaving their jobs.

At best, subject to a strong exit securing employment (or Book 2.0, enacted in 2022), employers may choose to contribute to employees’ exit accounts in line with their student mortgage bills. If this benefit is available, employees can focus on repaying the loan without missing out on matching contributions.

I said: Attaching a loan to an adjective is useless. This is just debt, and if used excessively it will be harmful and even extremely oppressive.

Response: “Bad debt means your net result is negative, like buying a fancy pair of shoes on a credit card and not paying it off. Good debt means your net result is positive, like a degree that gets you a better job than the loan cost, or a home that appreciates, provides a place to live, and a better lifestyle. Does.

There are many scholars who have negative and disagreeing level. Or others paid savings for master level, which did not increase their income stream but left them with debt that they could not repay for many years. Notice the Great Recession and housing bust?

When making recommendations, you need to consider habits. I speak out against characterizing loans as fair or malicious, in the hopes that society that wants to is lazy will do so before taking out any loans.

I write for hundreds. If I said the loan was “good” loan, some people who shouldn’t buy a home would definitely only look at homeownership. They won’t do the math to see that their loan won’t leave room for survival savings or to build a crisis reserve.

I believe this comment: “I prefer the term ‘necessary debt’ rather than good or bad. What is necessary should be carefully considered.”

If nothing else, the controversy surrounding my recommendation helped a young adult.

“From my perspective, it’s useful to hear a broader range of people’s viewpoints about these hot-button topics,” a 28-year-old D.C. reader said in an email. “I’ve always thought about personal finance very cut-and-dry as if there’s only one right way to do things. But there’s a long list of lessons learned about what isn’t the best idea. Finance isn’t always so cut-and-dry.”

If you want additional non-public finance recommendations that are immortal, index your booklet of Michelle Singletary’s Cash Milestones.