I make $150,000 and live rent-free with my parents – opinions are divided, but I’m not a freeloader

A TikTok star has reignited the debate over whether parents should charge their grown children rent to live at home.

Grace Lemire, 24, has been enjoying the home comforts of living in her parents’ home near Worcester, Massachusetts, since graduating college two years ago.

But she’s been called a “freeloader” and a “fraud” after she posted a video saying she’s on track to make $150,000 this year alone, but isn’t paying rent.

It’s in stark contrast to a Texas couple who went viral after telling their nearly one million followers that they were charging their 19-year-old daughter $200 a month in rent.

Both have provoked a furious debate and divided Americans over how parents can best teach their children financial maturity.

According to the Pew Research Center, as of July 2022, 50 percent of adults in America ages 18 to 29 lived with one or both parents.

In 2010 it was about 44 percent and ten years earlier, in 2000, it was 38 percent.

Erika and Cody Archie of Gatesville, Texas, started charging their daughter Kylee Deason two weeks after she graduated high school in May 2022 and she decided she wouldn’t go to college.

The couple, who have gained a following on social media by posting videos of their life on a farm, claim it helps their daughter manage her finances smartly.

“$200 a month is cheap enough to live like a grub in your parents’ house,” Cody said.

“That’s cheaper than she eats,” Erika said. “We think it teaches them a good lesson in paying bills.”

Grace Lemire, on the other hand, doesn’t pay a dime in rent — but claims she’s still financially savvy — and has managed to pay off nearly all of her student loan.

She lives with her parents, Dan, an engineer, and Nancy, an educational designer.

She told DailyMail.com, “I graduated with $70,000 in student loan debt and I’m on track to pay it off by the end of this year. That wouldn’t have been possible if I didn’t live at home.’

Lemire gives financial advice to her 73,000 followers TikTok and writes content for financial technology start-ups.

Even though her business has grown exponentially since she started last June — and her monthly income has increased from $3,000 a month to a whopping $20,000 last month — she’s still thrifty with her expenses.

“I’m on my way to making almost four times what I did when I first started. If you look at my budget, I have a ‘fun’ category, which includes dining out with friends, entertainment, and the amount I set aside for that hasn’t changed.’

Grace Lemire has opened up about living with her parents despite being on track to make $150,000 this year

Lemire says she managed to pay off most of her $70,000 student loan in just two years

Lemire has spoken to her parents several times about whether she should pay rent, but their perspective has always been that she shouldn’t, she said. Her brother also lived at home when he left university.

“For them it is more important to see that we are moving forward and are on the best positive financial footing. They’d rather see me pay off my student debt than give them rent money to hold on to.

“In time, I will be 30 years old and live debt-free. They chose to bring me into this world, so it’s really their responsibility as parents to take care of their children as much as possible.

“Some parents have stopped for that — when their kids turn 18, for example — and other parents say they’ll take care of you for as long as you need them. And my parents are the last.

“They see it as giving me a chance and I can take it or I can move and pay rent somewhere else. But I’m taking that chance and they think that’s a smart decision.’

Lemire pays for her own gas and medical expenses — which adds up to $1,000 a month — while her mother pays for her car insurance.

“I’ve offered to pay for that too, but again she says she’d rather the money go towards my student loan,” she added. And if I move, I’ll take over. I’m very, very grateful – they’ve been incredible with the things they’ve covered.”

Polled on behalf of News week found this year that nearly two-thirds of 1,500 Americans believe adults in their 20s living in their parents’ home should pay rent even if the parents don’t need the money.

Lemire admitted that there is a “big gulf” between opinions when she posts videos online about her plight.

“I’ve posted videos before that got really negative reactions. I’ve been called a scammer, I’ve been called a freeloader,” she told DailyMail.com. “People say she takes Dad’s money and uses it to buy things,” but that’s just not true.

“But then I have people who really relate to it and say it makes them feel better that they’re also 24 and living at home.”

She is also aware that her job is unpredictable, and despite being on track to make $150,000 this year, long-term income is not guaranteed.

“Just because I did well one month doesn’t guarantee I will do well the next month, so I have to be conservative with my money,” Lemire said.

“I could go buy an apartment for $4,000 a month and then it could totally change in two months. I want to be prepared for that and make sure I have a steady income before I make that choice.’

According to the Pew Research Center, the number of 18- to 29-year-olds living with a parent will reach its highest level in about 50 years in 2020

In the US, as in many Western countries, it is common practice for many children to leave their parents’ homes when they reach adulthood.

But now about 60 million American households are believed to be “multigenerational” — that figure has quadrupled since the 1970s, according to data collected by the Pew Research Center.

In 2020, it turned out that the number of people living at home had reached its highest level since the Great Depression.

While the economic impact of the coronavirus pandemic had an effect, the trend was observed beforehand.

The average monthly rent in the US reached a record high in 2022 and home prices in major cities continue to rise.