“I know money’s tight, but I’ve got some saved and almost no debt.”

We set him up with an investment account.

Growing up, I never talked with my family about investing.

I always assumed it was something that came later, when I had more money to put aside.

It’s not entirely their fault.

Investing apps didn’t exist, and it was much harder to open an account.

That way he can evaluate if his spending matches his goals and can tweak his habits accordingly.

Marry and have kids.

Work for a couple of decades and retire.

For my parents, the most important element in choosing a school and career path was income calculation.

But my approach was different.

I began by asking Gavin about his values and what he wants his life to look like.

His needs were fairly straightforward.

He wanted simple, inexpensive things.

He wanted to continue prioritizing time with friends and family, and to keep living in his comfortable apartment.

He wasn’t in a rush to get married, either, despite pressure from his grandparents.

No expensive four-year degree required.

And that also meant no student loan debt.

And43% regret taking out student loansto fund their child’s college education.

Getting a bachelor’s degree still proves advantageous for landing a job and getting higher wages in most industries.

And that just wasn’t something he or I wanted to sacrifice.

“Homeownership has its perks, but it’s not always the best financial move,” Matthews said.

And that’s especially true today, as theunpredictable housing market remains in flux.

Reed also underlined how buying a home is particularly tough when the economy is so uncertain.

It also offers more flexibility to move or downsize.

“My parents both worked for the state of Texas for their entire careers,” Brewer said.

“They valued stability over everything else.”

But gone are the days of a decades-long career with the same company and a pension.

Brewer pointed to the increasing instability of the job market in recent decades.

“I want my daughter to look at the pros and cons of ‘stable’ employment versus self-employment.

One study found thatover half of working Americansprioritize having flexibility more than career progression.

Even though Brewer recognizes some of the risks with entrepreneurship, she feels it gives you more control.

“It’s as much a lifestyle choice as a financial choice.”