The Idea for C2A
The idea for choose2advance (C2A) came after reading countless financial articles about how tough it is for the Middle Class these days.
My Dad fought in WWII. When he came home from that war, he found an economy that allowed him to go to college (first generation) and as a teacher he went from growing up poor to firmly in the Middle Class.
I also chose teaching as a profession. As a teacher I was able to earn a Middle Class salary. But, the things I keep reading are making it tougher for folks to get into and/or hold on to their Middle Class status. I read things like …
Americans find it so hard to save. More than 40% could not access cash to handle an emergency expense of $1000.
75% of all millennials do not have any significant emergency savings to float them from sinking into a financial disaster.
50% of adults under 30 are forced to live with their parents due to housing costs.
and so on…
We all know how hard it is for folks starting out. In particular, I really connect to how tough it is for young professionals to get the financial footing they need to launch into their careers.
We need good businesses, and good jobs, to make any headway in helping people live a Middle Class American life. I believe our young professionals are our best chance to create those businesses and jobs.
That is when I came upon the C2A idea of sharing housing resources with young professionals who are just starting in their careers.
I am fortunate to have a house that has space that I can share.
Sounds easy enough - but there is a big…. BUT.
Here is the “but”. I just retired and successfully launched my own kids from my house. Do I really want to give up that new found freedom?
That answer was easy, No! Haha!
So how did I get to ….”Yes” on sharing my house?
Well, I did the math.
Here is what housing costs the average young professional here in the MWV who grosses $45,000 and brings home $30,000 per year.
Rent: $1200
Utilities: $300
TV/Wi-Fi: $100 (you can’t work without WiFi)
Just those 3 costs alone already are a total $1600 a month. Times 12 months - that costs $19,200 a year. Subtract that from $30,000 and that leaves this person $10,000 for the year ($900 a month) to pay for a food, car, college loans, health insurance and retirement. And what if they don’t even make $45,000?
No wonder they are not able to save for emergencies or gather the funds they need to launch a business. They are stuck! I know there is a lot of chatter out there about Starbucks and Avocado Toast, but please…please do the math and you can see that “housing” is the big issue.
I soon realized that if I shared a bedroom in my house with one young professional for six months, they could move back out into the world with a minimum of $9000 in their pocket.
And what did it cost me? Almost nothing. A little extra hot water, I guess.
Sure, it also cost me some freedom. But I got to “yes” because I couldn’t find a compelling reason how I can keep this opportunity from some young professional just starting out. I’m in!
I know this idea won’t be the right fit for some folks. That is fine. We don’t need everyone. Right now we just need 10 homes out of the over 10,000 homes in the Mt. Washington Valley. With 10 homeowners participating we will generate perhaps over $100,000 combine wealth for these young adults in 6 months!
If you are one of those people that thinks this idea might just work for you, YAY! Please reach out to me so we can talk it out. I won’t put pressure on you. I want it to be a good fit.
If you get the concept, but it would just be too big a leap for you to have someone in your house, consider supporting the program through a contribution. Or, just share the idea with folks that you know. You might just know someone who is a good fit for C2A.
Some folks have empty carriage houses, and they just don’t want to bother with renters. Or, maybe they would like a “house watch” person (during the months they don’t use the house), but don’t know who to trust. This program might work for a variety of housing situations like that - it’s not just for empty nesters like me.
We will be doing background checks and making sure these young professionals have good jobs and are in good standing at work. You can’t save money if you are not employed!
The C2A program can help negate any perceived risk. If you have a concern, let us see if we can solve it. Just ask.
I welcome any ideas or questions that you might have. This is my idea on how to help solve this problem. Maybe you have an even better idea? Let’s talk.
Thanks for your interest.
Mike Armstrong, C2A Founder
