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Gen Z Dumping Retirement Money into Gambling Instead of Actual Retirement Accounts
Posted on 8/18/26 at 9:36 am
Posted on 8/18/26 at 9:36 am
Yahoo Link LINK
Maybe this is why they can’t buy a house?
Also, are we regretting legalizing all these sports betting apps yet?
Maybe this is why they can’t buy a house?
Also, are we regretting legalizing all these sports betting apps yet?
This post was edited on 8/18/26 at 9:37 am
15
Posted on 8/18/26 at 9:42 am to Techdave
quote:
Also, are we regretting legalizing all these sports betting apps yet?
I regret the constant advertising for them. shite is worse for society than smoking.
Posted on 8/18/26 at 9:43 am to Techdave
Time to buy casino stock.
Posted on 8/18/26 at 9:45 am to Techdave
My generation is obsessed with sports gambling now. I enjoyed throwing 10 bucks on a bet every now and then when we had to go through Bookies, but now it’s just predatory.
I also hate how it killed a lot of people’s genuine interest in sports. I don’t need to bet money on a game to enjoy what I’m watching, but that’s my generations excuse for watching.
I also hate how it killed a lot of people’s genuine interest in sports. I don’t need to bet money on a game to enjoy what I’m watching, but that’s my generations excuse for watching.
Posted on 8/18/26 at 9:46 am to Techdave
I enjoy gambling a little, was for legalizing, and thought the societal arguments were overblown. I was wrong, we should go back, I underestimated how susceptible people are to this. It is all my friends talk about, it is insane. Commercials should at least be banned.
Posted on 8/18/26 at 9:46 am to MasterAbe1
My tinfoil hat theory is that it’s all by design to widen the gap between the haves and have nots. And I dabble in the fine arts of sports wagering.
This post was edited on 8/18/26 at 9:49 am
Posted on 8/18/26 at 9:48 am to MasterAbe1
Apps and microbets are creating an epidemic of gambling addiction.
Posted on 8/18/26 at 9:52 am to Techdave
They aren’t being educated on how to save and manage money. At any level. You’re expected to graduate, get a job, stick money in a 401k then hope you have enough to retire on when they get there.
I am a financial advisor and I show young clients a page from a presentation to them that changes everything. It’s a chart showing a 22 year old who maxes out a Roth IRA from the ages of 22-30 can stop investing and if the rate of return matches the S&P just that investment will be $3,000,000 by the time they retire at 67.
Conversely, if someone starts out at age 31 and maxes out every year until they retire at 67, it’s about it $2,700,000.
Me personally, I’m in the latter group and I wanted to kick my own arse when I first saw this.
That’s enough to take comfortable withdrawals, not be impacted by whatever happens with social security, and not have to touch the principal.
I am a financial advisor and I show young clients a page from a presentation to them that changes everything. It’s a chart showing a 22 year old who maxes out a Roth IRA from the ages of 22-30 can stop investing and if the rate of return matches the S&P just that investment will be $3,000,000 by the time they retire at 67.
Conversely, if someone starts out at age 31 and maxes out every year until they retire at 67, it’s about it $2,700,000.
Me personally, I’m in the latter group and I wanted to kick my own arse when I first saw this.
That’s enough to take comfortable withdrawals, not be impacted by whatever happens with social security, and not have to touch the principal.
This post was edited on 8/18/26 at 9:53 am
Posted on 8/18/26 at 9:53 am to MasterAbe1
quote:
I also hate how it killed a lot of people’s genuine interest in sports.
This. Have a good family friend who cannot watch any sport without betting. It's his money and he can do what he wants with it, but it's sad that I can't watch a game with him, and the only thing he's focused on are how his bets are looking
Posted on 8/18/26 at 9:53 am to Techdave
I’ve made an absurd amount of money from the betting apps so I’m not complaining.
Posted on 8/18/26 at 9:55 am to Techdave
quote:
Also, are we regretting legalizing all these sports betting apps yet?
why would we ever regret siding with freedom?
seriously other than annoying commercials...please explain to me why I should care what other people do with their money? Why do I give a frick what gen z does? Especially a bunch of people I have never met and only about 25% of those people at that?
I dont even gamble nor use those apps at all. but please explain why you feel we should tell other people how to spend their money? and explain why I should care please
dont give me the ethical or moral bullshite. explain why you feel its ok to tell other people what to do when it has zero effect on you
this isnt like legalizing MJ and now you have to smell it everywhere. literally who gives a frick who is gambling and who isnt? everyone i know that gambles on sports are doctors, retired former business owners, investors etc...Im sure there are plenty of degenerates that are poor....but my job is not to protect them from their own dumbass decisions.
Posted on 8/18/26 at 9:55 am to nola tiger lsu
quote:Im Kinda here too. My 10 year old son and his friends talk about betting CONSTANTLY. It kinda terrifies me. I tell my it’s a horrible habit all I can but they are inundated with it
enjoy gambling a little, was for legalizing, and thought the societal arguments were overblown. I was wrong, we should go back, I underestimated how susceptible people are to this. It is all my friends talk about, it is insane. Commercials should at least be banned.
This post was edited on 8/18/26 at 9:56 am
Posted on 8/18/26 at 9:57 am to lsu777
quote:Dont be obtuse
why would we ever regret siding with freedom?
I’m for freedom too, and was for legalizing gambling just like I’m for legalizing weed
The difference is weed companies don’t send weed to you directly 10x a day asking you to do it, but gambling companies do….
Posted on 8/18/26 at 9:57 am to Techdave
Easy access to gambling via sports betting, crypto, etc is really enabling those who lack self control.
I'm not sure putting more guardrails in place to help young men. But maybe we need to head that way
I'm not sure putting more guardrails in place to help young men. But maybe we need to head that way
Posted on 8/18/26 at 9:58 am to lsu777
quote:
I dont even gamble nor use those apps at all. but please explain why you feel we should tell other people how to spend their money? and explain why I should care please
They already ARE being “told what to do” with the constant advertising… it’s not just advertising the availability of this style of gambling, the ads offer many incentives to both sign up and keep using.
quote:
why I should care what other people do with their money? Why do I give a frick what gen z does?
You will be paying for their subsidized housing and children’s free school lunches. That’s why.
Posted on 8/18/26 at 10:02 am to lsupride87
quote:
Dont be obtuse
I’m for freedom too, and was for legalizing gambling just like I’m for legalizing weed
The difference is weed companies don’t send weed to you directly 10x a day asking you to do it, but gambling companies do….
dont sign up for the shite then.
i mean let people do what they want so long as it doesnt affect me directly. if they end up broke....cool maybe I can get some good deals on some stuff and take advantage of the situation.
i dont feel bad for dumb fricks who get addicted to shite like that at all. not one single bit
Posted on 8/18/26 at 10:03 am to lsu777
quote:
lsu777
You sound threatened and triggered.
Do you have a gambling addiction that needs to be addressed?
Posted on 8/18/26 at 10:03 am to SallysHuman
quote:
I regret the constant advertising for them. shite is worse for society than smoking.
How about some societal accountability?
Unlike smoking when it first became popular long ago, the "user" of sports betting very clearly knows the risk of using up front. If you lose the bet you lose the money. Simple as that. If an adult chooses to spend their money on a known risky "investment", why is mine or society's job to tell them how to spend their money?
Posted on 8/18/26 at 10:04 am to Techdave
I have zero desire to hear about some co-workers multi game parlay and the 1 game he missed followed by the play by play of all the ‘crazy’ stuff that happened causing him to miss it. I watched the game, but sorry…had zero idea of what the spreads were and didn’t care.
It’s right up there with someone trying to give you a play by play of their fantasy football lineup and matchup. I enjoy playing, but could give zero shits about some other league and your terrible team.
It’s right up there with someone trying to give you a play by play of their fantasy football lineup and matchup. I enjoy playing, but could give zero shits about some other league and your terrible team.
Posted on 8/18/26 at 10:06 am to 9Fiddy
What kid in their 20s has $625 per month in disposable income to max out a Roth IRA. Kids that age are just getting started in life and ate at starting salaries while also managing their highest debt loads with student loans.
Saving a ton of money early in life sounds great in theory and looks great on paper but isn't always practical for those just scraping to get by.
Saving a ton of money early in life sounds great in theory and looks great on paper but isn't always practical for those just scraping to get by.
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