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Message
re: Millennial wealth is still lagging behind previous generations at the same age
Posted on 2/21/20 at 5:55 pm to GoHoGsGo06
Posted on 2/21/20 at 5:55 pm to GoHoGsGo06
quote:
Most millennials don’t want blue collar jobs because they see the writing on the wall in terms of automation.
Most are placing a bet on themselves (student debt) in hope they can get into a field that pays the bills and won’t get automated within 10 years.
Depends on what you mean by "blue collar"
Call centers, cashiers, truckers, drivers? Yep. We have to be thinking about that.
Manual labor vo-tech degree jobs that require finger dexterity and on-the-fly thinking and changes (plumber, carpenter, mechanic, HVAC).. that won't happen in our lifetime.
This post was edited on 2/21/20 at 5:56 pm
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Posted on 2/21/20 at 6:02 pm to JohnnyKilroy
quote:
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.
1. You are missing out on the ability to make salary referrals.
2. You are missing out on any matching.
3. You are missing out on the TVM for that amount.
4. You are doing this every 2 years according to this thread.
In 2020 the contribution limit is $19,500. Let’s assume you break that down into 12 equal payments. That means you are missing out on $9750 in contributions plus the match and whatever that grows to over 30 years. Oh, and you are doing this every two years.
That better be one hell of a raise after taxes are paid. Also, you better be a whole better at saving some of that raise than most people.
Posted on 2/21/20 at 6:07 pm to Displaced
quote:
That's because the boomers and their massive leeching numbers won't die off.
How do you think we Boomers feel?
We raised such a generation of worthless, lazy, and stupid humans.
Shame on us.
This post was edited on 2/21/20 at 6:08 pm
Posted on 2/21/20 at 6:07 pm to Janky
quote:
In 2020 the contribution limit is $19,500. Let’s assume you break that down into 12 equal payments. That means you are missing out on $9750 in contributions plus the match and whatever that grows to over 30 years.
First off, lol if you think people are having trouble building wealth if they make enough salary to contribute the max to a 401k.
Second, you realize that you can contribute the full 19.5k in 6 months right? So let's say you make 100k and you get a 4% match after 6 months. That's only 2k "lost". You're acting like a 2k difference is some make or break figure.
And yes, switching jobs nets a MUCH bigger raise versus sticking around.
Posted on 2/21/20 at 6:08 pm to SavageOrangeJug
quote:
We raised such a generation of worthless, lazy, and stupid humans.
Sham on us.
Damn right sham on you. You should feel bad. All the problems millennials face is largely your generations fault
Posted on 2/21/20 at 6:08 pm to JohnnyKilroy
Yes you can but very few can afford to put $19.5k over 6 months.
This post was edited on 2/21/20 at 6:10 pm
Posted on 2/21/20 at 6:10 pm to Displaced
quote:
You should feel bad. All the problems millennials face is largely your generations fault
STFU with your entitled bullshite.
Get off your lazy fricking arse and work for something.
Posted on 2/21/20 at 6:11 pm to SavageOrangeJug
You're projecting...
Typical Boomer who reflects on his life in sham.
Typical Boomer who reflects on his life in sham.
Posted on 2/21/20 at 6:11 pm to Janky
quote:
Yes you can but very few can afford to put $19.5k over 6 months.
So they can afford it over 12 months, but it's difficult over 6 in your hypo? Lol
Posted on 2/21/20 at 6:12 pm to JohnnyKilroy
What would be the average raise amount needed to leave?
Posted on 2/21/20 at 6:12 pm to Displaced
quote:My life is pretty good.
You're projecting...
Typical Boomer who reflects on his life in sham.
Guess what, little boy?
Had to work to get here.
Posted on 2/21/20 at 6:13 pm to Janky
Idk. That's up to the person. I just got a 38% raise by leaving my last job a month ago.
Posted on 2/21/20 at 6:14 pm to Janky
Few can afford to over 12 months also
Posted on 2/21/20 at 6:15 pm to SavageOrangeJug
So much anger. So little self awareness.
You already admitted your generation is the reason millennials are fricked up due to shitty parenting. I don't know why you despise them so much. How fricked up are your kids? This is a safe place, you can tell us.
You already admitted your generation is the reason millennials are fricked up due to shitty parenting. I don't know why you despise them so much. How fricked up are your kids? This is a safe place, you can tell us.
This post was edited on 2/21/20 at 6:15 pm
Posted on 2/21/20 at 6:15 pm to JohnnyKilroy
Are you stupid? How much do you think people make where it is not easier to contribute $1625 per month vs. $3250?Not the OT but the real world.
Posted on 2/21/20 at 6:16 pm to jimbeam
I know. His hypo is stupid. There's mass amounts of data that says job hopping is optimal for growing wealth/income. For some reason he thinks missing out on a few grand (at most) in a 401k match is not worth it.
Posted on 2/21/20 at 6:17 pm to JohnnyKilroy
quote:That works up to a point.
Idk. That's up to the person. I just got a 38% raise by leaving my last job a month ago.
Then you get stuck in a rut of lateral moves. You don't see a lot of guys with 11 jobs over the past 15 years being named the Executive VP.
Posted on 2/21/20 at 6:18 pm to Janky
quote:
Are you stupid? How much do you think people make where it is not easier to contribute $1625 per month vs. $3250?Not the OT but the real world.
The world where those people saved the money they would have placed in the 401k during those 6 months before getting into the plan. It's not that hard.
Posted on 2/21/20 at 6:18 pm to Horsemeat
quote:
A middle class home costs double what it did in 1990
I was young.
Were houses seen as investments as much as today, or a place to live? Was "flipping" so popular? Does anyone think this has affected prices in a meaningful way?
Posted on 2/21/20 at 6:22 pm to Displaced
quote:
So much anger. So little self awareness.
You already admitted your generation is the reason millennials are fricked up due to shitty parenting. I don't know why you despise them so much. How fricked up are your kids? This is a safe place, you can tell us.
Remember the part about stupid in my first comment?
Well, my comments were dripping with sarcasm that went right over your pointy little head.
It's called personal responsibility. Something you are obviously lacking.
No, it is not our fault that we won't die so you can get instant wealth. Wait your turn, you self-centered little jerk. Work for something.
The very idea.
"Somebody needs to die so we can have their money."
What kind of a pathetic excuse for a human thinks this way?
This post was edited on 2/21/20 at 6:31 pm
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