In a recent feature from CNBC Make It’s Millennial Money series, the spotlight is on Sal Khan, a 31-year-old tech sales professional who earns an impressive $212,000 annually. What sets Khan apart is his unique living arrangement: he resides with his parents in Houston, rent-free. While this decision has undoubtedly contributed to his financial success, allowing him to invest in real estate and splurge on luxuries like vacations and dining out, it also holds a deeper significance for Khan and his family.
As reported by Jennifer Liu and Raffia Paul for CNBC’s Make It, Khan’s story began in Pakistan, where he was born and raised as the youngest of five children. His siblings began moving to the United States when he was just 9 years old, starting with his eldest brother, who came to pursue his college education. Khan’s oldest sister followed suit, relocating to Houston to work as a physician. By the time Khan was 17, his parents had joined his sister in Houston, helping to raise their grandchildren while initiating the process of obtaining a green card. Khan, however, remained in Pakistan under his grandfather’s care as his other siblings moved away for work and school.
According to CNBC, Khan was the last of his family to make the move to the U.S. in 2013 at the age of 20, after his parents sponsored his visa. He went on to earn a finance and economics degree from Ohio State University and spent a few years working in the Bay Area. When the pandemic hit, Khan found himself moving in with his parents in Houston, a temporary solution that evolved into a long-term arrangement, ultimately strengthening their familial bond. “I do think my relationship now has been the best with my parents than it has been before,” Khan told CNBC Make It.
Living with his parents has not only allowed Khan to save money but has also provided him with the opportunity to make up for lost time and embrace his cultural heritage. As CNBC reports, Khan’s mother encouraged him to stay as long as he wanted, recognizing the chance to enhance their family relationship. While Khan admits that the arrangement required some adjustments, such as establishing boundaries and expectations, he and his parents have navigated the situation with improved communication.
CNBC Make It also delves into the impact of Khan’s living situation on his personal life, particularly in the realm of dating. While some potential partners struggled to understand his choice to live with his parents, Khan eventually found a girlfriend, Nina Nguyen, who also lives with her family for both cultural and financial reasons. The couple spends much of their time together outside of their respective homes, going on dates, dining out, and taking trips.
Khan’s financial prowess is evident in his investment portfolio, as reported by CNBC. He ventured into real estate in 2022 and now apparently owns four investment properties, netting him $8,000 annually with potential for growth. Khan’s long-term goal is to amass $2 million in assets within the next five years, at which point he plans to move out of his current home. However, this move will not mark the end of his living arrangement with his parents; instead, Khan hopes to bring them along to his new residence, honoring their wish to remain with him wherever he goes.
Through sharing his story with CNBC Make It, Khan hopes to challenge the social stigma surrounding adults living with their parents. He views the arrangement as a choice that has not only strengthened his relationship with his family but also propelled him towards a more secure financial future.
Featured Image via Pixabay
