- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Personal Finance Expert: Far From Entitled, Millennials Resemble 'The Greatest Generation'
Posted on 5/2/17 at 1:32 pm
Posted on 5/2/17 at 1:32 pm
LINK
Click the link, share, and start the conversation.
quote:
And when it comes to personal finance, it might surprise some commentators that millennials are outpacing their predecessors.
quote:
Millennials are also better at saving and planning for the future. “In some polls I’ve seen, millennials are better at saving for retirement,” says Kobliner. “The median age millennials open a 401(k) is at 22, compared to age 28 for Gen-Xers and 35 for baby boomers.”
quote:
“Because of soaring student debt, low wages, higher rents and higher mortgages, many millennials have been forced to postpone things earlier generations took for granted -- like going to grad school, buying a home or even getting married and having kids,” Kobliner says. “Yes, surveys show up to a record one-third of millennials are living in dorms or with their parents, but that’s because many are saving up for a down payment for a home. They’re not putting off adulthood – they’re making wise financial choices.”
Click the link, share, and start the conversation.
16
Posted on 5/2/17 at 1:35 pm to GreatLakesTiger24
Good information. The resounding narrative these days has led me to believe these things were not the case.
Posted on 5/2/17 at 1:39 pm to GreatLakesTiger24
quote:
They’re not putting off adulthood – they’re making wise financial choices.
well except for all those student loans they took in college
Posted on 5/2/17 at 1:40 pm to Salmon
quote:
well except for all those student loans they took in college
Which is a good investment for most.
Posted on 5/2/17 at 1:41 pm to GreatLakesTiger24
Yay! We don't suck despite boomers setting us up to fail!
Posted on 5/2/17 at 1:42 pm to GetCocky11
maybe
Posted on 5/2/17 at 1:42 pm to GreatLakesTiger24
We are the GOATs 
Posted on 5/2/17 at 1:43 pm to GreatLakesTiger24
quote:
35 for baby boomers.”
This makes no fricking sense at the average baby boomer was 24 when the law was enacted and most people didn't even know what 401(k)s were till the mid 80s. Plus they all had pension funds.
This post was edited on 5/2/17 at 1:43 pm
Posted on 5/2/17 at 1:44 pm to barry
Also this makes total sense as they grew up dealing with a major recession.
Posted on 5/2/17 at 1:45 pm to GreatLakesTiger24
I think it is unfair to compare boomers starting a 401(k) to other generations. The 401(k) wasn't even a thing until the late 70's, when most boomers were in their mid 20's or so.
I am in generation X and I will admit that most millennials I know max out retirement contributions, or put much more than just the required amount to receive the company match.
ETA: Barry beat me to it
I am in generation X and I will admit that most millennials I know max out retirement contributions, or put much more than just the required amount to receive the company match.
ETA: Barry beat me to it
This post was edited on 5/2/17 at 1:46 pm
Posted on 5/2/17 at 1:45 pm to Salmon
quote:
well except for all those student loans they took in college
If I had it all over to do again, I would have taken out even more loans to pay for Nursing School after about 4 semesters at LSU....
Because of my demographic, I would be working in any city I would choose, 3-4 days a week and bringing in 80+.
More people my parent's age have NO plan for retirement much less a late 401k.
Posted on 5/2/17 at 1:45 pm to barry
Yeah no shite.
They can have their 401k. I'll retire in a few years at 100% of my pay until I die, along with the 401k that I didn't start until later in life.
They can have their 401k. I'll retire in a few years at 100% of my pay until I die, along with the 401k that I didn't start until later in life.
Posted on 5/2/17 at 1:47 pm to GreatLakesTiger24
quote:
but that’s because many are saving up for a down payment for a home.
BS. They just cant qualify under the tougher restrictions
quote:
New rules make it tougher for people with college loans to buy houses
Washington Post
Posted on 5/2/17 at 1:48 pm to GreatLakesTiger24
It's easy to save and have 401Ks when the majority of these kids are still living with their parents.
Posted on 5/2/17 at 1:48 pm to League Champs
quote:
but that’s because many are saving up for a down payment for a home.
BS. They just cant qualify under the tougher restrictions
maybe due to the new restrictions, they are saving up for conventional loans
Posted on 5/2/17 at 1:49 pm to League Champs
I have college loans and qualified just fine, as did like three other millennials in my office alone this past year
Posted on 5/2/17 at 1:49 pm to MightyYat
quote:
It's easy to save and have 401Ks when the majority of these kids are still living with their parents
kinda the point
Posted on 5/2/17 at 1:50 pm to GreatLakesTiger24
quote:They both had a median annual salary of $12,000?
Millennials Resemble 'The Greatest Generation'
Posted on 5/2/17 at 1:52 pm to MightyYat
quote:nah fam
the majority of these kids are still living with their parents.
Posted on 5/2/17 at 1:53 pm to GreatLakesTiger24
quote:
Yes, surveys show up to a record one-third of millennials are living in dorms or with their parents, but that’s because many are saving up for a down payment for a home.
Saved for a year living with my parents before buying my first home.
Page 1 of 2
Back to top
Follow TigerDroppings for LSU Football News