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re: Millennial wealth is still lagging behind previous generations at the same age
Posted on 2/21/20 at 3:18 pm to southpawcock
Posted on 2/21/20 at 3:18 pm to southpawcock
Who said anything about dating?
1
Posted on 2/21/20 at 3:21 pm to Centinel
Isn't The Hub mostly college chicks? Doubt there are that many, if any, young professionals living there.
Posted on 2/21/20 at 3:25 pm to Displaced
Wait are you trying to Mr. Robot me, bro?
Posted on 2/21/20 at 3:35 pm to RLDSC FAN
That's because since about 1980, wealth created in the US has gone in a disproportionate amount to the top 10% of households. So it stands to reason that subsequent generations would have a lower average net wealth spread across all economic classes. #Bernie2020
This post was edited on 2/21/20 at 3:38 pm
Posted on 2/21/20 at 4:20 pm to Janky
If i switch jobs, very likely that the salary increase will outweigh losing 6 months of 4% match.
Posted on 2/21/20 at 4:37 pm to jimbeam
You are assuming you have the ability to save. Which according to studies most people cannot. Salary increase doesn’t really help you with a 401k because contributions capped. It is not just the match you are giving up.
I am not going to burn the energy to run the numbers, but I would bet it would have to be quite a raise to offset the missing contributions, matches and TVM.
I am not going to burn the energy to run the numbers, but I would bet it would have to be quite a raise to offset the missing contributions, matches and TVM.
This post was edited on 2/21/20 at 4:39 pm
Posted on 2/21/20 at 4:51 pm to jimbeam
I've never had a company wait to start matching. I'm sure some do but it hasn't been an issue for me.
Posted on 2/21/20 at 4:55 pm to Janky
quote:If people who jump jobs can’t save, how is that different than people who stay at one job?
You are assuming you have the ability to save. Which according to studies most people cannot.
Posted on 2/21/20 at 5:04 pm to jimbeam
We are talking about 401k plans which once signed up is forced saving. Money paid to them in a paycheck gets spent and not saved.
Posted on 2/21/20 at 5:06 pm to fallguy_1978
See my link on the previous page. Not only do some wait to match, but almost 50% of the companies force you to wait 6 months before you can even participate.
Posted on 2/21/20 at 5:06 pm to RLDSC FAN
You think wealth will be given to you?
Posted on 2/21/20 at 5:07 pm to jnethe1
quote:I don’t think that. I know it
You think wealth will be given to you?
Posted on 2/21/20 at 5:38 pm to SD Tider
quote:
be along shortly to let us know it’s all because of laziness though.
Disclosure: I’m not a boomer. There are exceptions, but generally speaking this is accurate. I have one SIL who taught 6th grade in Seattle last year but had to take this year off bc of ptsd from working one whole year - translation, lazy. I know another female that graduated with honors with a biochem degree who is a coffee chick because she doesn’t want to commit to anything too difficult - translation, lazy.
Posted on 2/21/20 at 5:41 pm to Janky
quote:
I am not going to burn the energy to run the numbers, but I would bet it would have to be quite a raise to offset the missing contributions, matches and TVM.
That would be a dumb bet lmao. You realize you can contribute more to offset the lost time right?
Posted on 2/21/20 at 5:41 pm to RLDSC FAN
Gen X is doing just fine.
Posted on 2/21/20 at 5:42 pm to Janky
quote:
We are talking about 401k plans which once signed up is forced saving. Money paid to them in a paycheck gets spent and not saved.
Wow lmao
Posted on 2/21/20 at 5:45 pm to Displaced
I'm a Boomer have an up vote
Posted on 2/21/20 at 5:50 pm to JohnnyKilroy
quote:
You realize you can contribute more to offset the lost time right?
Que?
Posted on 2/21/20 at 5:53 pm to Janky
Idk what your hang up is with missing out on a few hundred in matching retirement funds. Job switching is in no way a factor in low millennial wealth. You make more by switching jobs.
Posted on 2/21/20 at 5:53 pm to RLDSC FAN
That's because Millennials are fricking lazy and entitled.
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