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1 in 6 millennial: $100k saved in bank
Posted on 1/23/18 at 8:25 pm
Posted on 1/23/18 at 8:25 pm
quote:
Millennials are pushing back against the stereotype that their money management skills are lacking, as 16% now have savings of $100,000 or more, double the amount of young people who had socked away that much in 2015, according to a new Bank of America survey.
The perception that Millennials — Americans between the ages of 23 and 37 — lack savvy when it comes to saving for retirement, budgeting and setting up and sticking to a financial plan is showing signs of being outdated, noted the survey, made available exclusively to USA TODAY.
quote:
Sixteen percent say they have $100,000 or more in savings, up from 8% in 2015. And nearly half (47%) have $15,000 socked away, up from 33% in 2015.
"Despite stereotypes of Millennials as being foolish with money and not long-term planners," they are actually behaving "quite responsibly" when it comes to money, says Andrew Plepler, global head of environmental, social and governance at Bank of America, summarizing the findings of the bank's 2018 Better Money Habits Millennial Report released Tuesday. "They deserve more credit. Millennials are actually doing better than you — and they — might think."
LINK
This post was edited on 1/23/18 at 8:26 pm
Posted on 1/23/18 at 8:27 pm to TJGator1215
Yes, I believe 1/6 millennials have $100K in the bank. Did their parents die?
Posted on 1/23/18 at 8:27 pm to TJGator1215
I know more of them have that much in student loans.
Posted on 1/23/18 at 8:27 pm to TJGator1215
If only boomers would've saved some money, maybe we wouldn't be in the shitter
Posted on 1/23/18 at 8:27 pm to TJGator1215
The fact that investments are crushing it right now has nothing to do with this.
This post was edited on 1/23/18 at 8:28 pm
Posted on 1/23/18 at 8:27 pm to TJGator1215
No way that's accurate
Posted on 1/23/18 at 8:28 pm to TheMailman
37 years old is a millennial?
Posted on 1/23/18 at 8:29 pm to Olric
It's easy to do when you refuse to have kids and still live with your parents
Posted on 1/23/18 at 8:29 pm to Olric
quote:
Thanks Federal Reserve
FTFY
Posted on 1/23/18 at 8:30 pm to TJGator1215
I sure as hell don’t feel like a millennial but we are a much better group than boomers
Posted on 1/23/18 at 8:30 pm to TJGator1215
quote:
Millennials — Americans between the ages of 23 and 37
This gonna frick some people up here.
Posted on 1/23/18 at 8:31 pm to TJGator1215
Yes the markets are doing well for everybody.
Posted on 1/23/18 at 8:32 pm to zacata88
quote:
Bitcoin
True. Millennial do run the tech game
Posted on 1/23/18 at 8:32 pm to TJGator1215
Millennials, although very flawed, are much better with money than boomers.
Most boomers have less than $17,000 saved for retirement
Most boomers have less than $17,000 saved for retirement
Posted on 1/23/18 at 8:33 pm to TJGator1215
quote:
as 16% now have savings of $100,000 or more, double the amount of young people who had socked away that much in 2015, according to a new Bank of America survey.
Was this survey taken in Upper East Side of NYC?
Posted on 1/23/18 at 8:35 pm to GreatLakesTiger24
How much equity does the average boomer have in their home? What boomers have pensions? It’s not just about what they have in savings.
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