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re: A quarter of Millennials have $100,000 saved. Here's how they plan to spend it
Posted on 1/30/20 at 7:14 pm to Powerman
Posted on 1/30/20 at 7:14 pm to Powerman
Point I was making is that my old man paid for college by cutting grass all summer on a tractor, bought a house out of school, worked in a plant at a good job till right now. I had a stay at home mom and we had by my own recollection a very good standard of living in a house my dad owned outright that he earned himself.
You ain't doing that these days. You're going to graduate with debt @ 6-8%, housing costs are unbelievable so that's out the question. Having a kid is expensive, and you damn sure ain't getting ahead with a regular job without your spouse pulling real income.
You ain't doing that these days. You're going to graduate with debt @ 6-8%, housing costs are unbelievable so that's out the question. Having a kid is expensive, and you damn sure ain't getting ahead with a regular job without your spouse pulling real income.
3
Posted on 1/30/20 at 7:17 pm to DownshiftAndFloorIt
most people here are just going to say you're bitching, stop complaining, etc
it's not worth the argument
it's not worth the argument
This post was edited on 1/30/20 at 7:18 pm
Posted on 1/30/20 at 7:24 pm to GreatLakesTiger24
I'm not bitching at all. I do very well for myself at my age by any standard. I still wont have my house paid off till I'm 50 at best, and that's only if my wife works a decent job, I don't have any serious tragedies, and our kids dont have any bad luck. That's pretty shitty. Thanks student loan debt (I worked as much as 3 jobs at once in college so spare me that lecture), no pensions, shitty insurance, etc etc.
I dont know how people pulling single average incomes make it. I've got fat I could trim for sure, but it wouldnt make up that kind of gap
I dont know how people pulling single average incomes make it. I've got fat I could trim for sure, but it wouldnt make up that kind of gap
This post was edited on 1/30/20 at 7:26 pm
Posted on 1/30/20 at 7:27 pm to DownshiftAndFloorIt
quote:i know. i get what you're saying and agree for the most part as im in the same boat , but it falls on deaf ears here
I'm not bitching at all. I do very well for myself at my age by any standard.
Posted on 1/30/20 at 7:31 pm to GreatLakesTiger24
A few of the older guys at work are always talking about how much better decisions the young people are making now than they did back when. They all assumed they'd have a pension to live on one day and didnt save/invest. At least we arent getting fricked on that front like they did when the pensions all started getting hacked. Bad thing is now we gotta compete with those geezers for 20 more years than we thought we would 
Posted on 1/30/20 at 7:52 pm to Koach K
quote:
I call bullshite on this story.
And you would be correct. It is CNN and fake news.
The article is based off a Bank of America report, what the report actually says is:
quote:
Roughly a quarter (24 percent) of millennials who are saving have $100,000 or more set aside, up from one in six (16 percent) millennials with
$100,000 in savings in 2018.
The same report says that 37% (2018) and 27% (2019) aren't saving at all. So it is actually 24% of 73% of millenials have 100K saved, 17%.
Posted on 1/30/20 at 7:53 pm to RLDSC FAN
Are 41 year olds millennials? I thought the cutoff was born in ‘82 or so (38 year olds).
Does this count all the women <41 married to guys 42+?
Does this count all the women <41 married to guys 42+?
Posted on 1/30/20 at 8:01 pm to RLDSC FAN
So Millennials are benefitting from what Boomers have built and teaching them about money matters.
Interesting turn of a narrative.
Interesting turn of a narrative.
Posted on 1/30/20 at 8:02 pm to GreatLakesTiger24
Lots of ignorant, obese boomers on this board
Posted on 1/30/20 at 8:03 pm to RockyMtnTigerWDE
quote:
So Millennials are benefitting from what Boomers have built
Posted on 1/30/20 at 8:05 pm to DownshiftAndFloorIt
quote:y’all in the wrong neighborhoods
Because we fricking have to. Takes two people working to pay a frickin house note these days
Posted on 1/30/20 at 8:06 pm to Ric Flair
quote:
Are 41 year olds millennials?
No.
Posted on 1/30/20 at 8:09 pm to RLDSC FAN
quote:
Nearly a quarter of people aged 24-41
bullshite I’M 40 AND I AM NOT A MILLENNIAL
Posted on 1/30/20 at 8:17 pm to RLDSC FAN
Whelp, confirmed poor here. Had about $200K saved up as a 27 year old, then developed a serious addiction and spent it all.
Don't do drugs yall.
Don't do drugs yall.
Posted on 1/30/20 at 8:19 pm to NIH
quote:
Lots of ignorant, obese boomers on this board
You should see my savings account since Wendy's came out with the 2 for $5 special.
Posted on 1/30/20 at 8:23 pm to olbemw7
quote:
Had about $200K saved up as a 27 year old, then developed a serious addiction and spent it all.
with access to that much cash, what was your most expensive drug deal?
Posted on 1/30/20 at 8:24 pm to RLDSC FAN
Coming from a millennial that doesn’t think very highly of millennials, I do find it quite ironic how many boomers there are that are working past 65 years of age. If you’re still working to save up for retirement than please don’t ever comment about any other generations.
Posted on 1/30/20 at 8:25 pm to RockyMtnTigerWDE
quote:
So Millennials are benefitting from what Boomers have built and teaching them about money matters.
I guess witnessing first hand of what NOT to do is a good teacher.
Posted on 1/30/20 at 8:26 pm to DownshiftAndFloorIt
quote:
Stay at home moms are uncommon now. Wasnt the case when I was a kid.
Fairly sure I’m older than you, and my mom had her own business. Most of my friend’ had both parents working as well.
Two income households have been a rule for a while now. Doesn’t make it suck any less for everyone, just isn’t a new phenomenon.
Posted on 1/30/20 at 8:47 pm to DownshiftAndFloorIt
quote:No one makes people go to college, Its a choice so please don't complain. some people choose a trade and have a 5 to 7 year head start on college grads. I chose welding out of high school, I was making 225k per year at 30.
You ain't doing that these days. You're going to graduate with debt @ 6-8%, housing costs are unbelievable so that's out the question. Having a kid is expensive, and you damn sure ain't getting ahead with a regular job without your spouse pulling real income.
This post was edited on 1/30/20 at 8:49 pm
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