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re: Soft Saving Trend for Millennials and Gen Z?
Posted on 10/25/23 at 7:31 am to Brosef Stalin
Posted on 10/25/23 at 7:31 am to Brosef Stalin
Yeah I don’t get, I see so many millennials in my profession take vacation all the time. I don’t understand at all.
Yet when I try to take time off it’s an act of Congress to get it approved
Yet when I try to take time off it’s an act of Congress to get it approved
3
Posted on 10/25/23 at 7:32 am to TheMT83
quote:
I'm more inclined to travel and do things on my bucket list now while I'm still able to. I'm just about to turn 40 so I feel like I need to do as much as I can. I've accepted that in return I'll probably never have a traditional retirement. My hope is retire from full time work at 65 but then probably still have a part time job after that. One for income and two just something to get me out of the house.
In 25 years why would I hire some old frick when a machine will do it?
You may want to rethink this strategy.
This post was edited on 10/25/23 at 7:33 am
Posted on 10/25/23 at 7:38 am to JohnnyKilroy
I don’t think that’s it at all. The point is that it’s done too frequently and it putting a strain on the older population especially the males that are being overworked
Posted on 10/25/23 at 7:40 am to TheMT83
As long as I don't have to pay for you assholes because I'm properly saving do what you want. Come after my IRA and 401Ks, I will consider that an act of war and operate accordingly.
I had to bust my arse to save anything because I was fricked by a terrible economy, but now that I have a good job I'm maxing everything out. It's costing me items and vacations now, and I'm fine with that for the security of later.
I had to bust my arse to save anything because I was fricked by a terrible economy, but now that I have a good job I'm maxing everything out. It's costing me items and vacations now, and I'm fine with that for the security of later.
This post was edited on 10/25/23 at 7:44 am
Posted on 10/25/23 at 7:43 am to SlowFlowPro
quote:
think it's more that, sadly, they don't have the ability to see it any other way.
Working hard to provide for your family and children and then retiring once they’ve been cared for and raised and just relaxing and finding peace after the work is done is now sad and antiquated according to you?
Posted on 10/25/23 at 7:44 am to WinnPtiger
quote:
most millennials I know don’t expect social security to exist 30 years from now. myself included
Rhetorical question, but how do we let this shite slide every 10 years or so? The fear porn that is social security going belly up and into a death spiral where it ceases to exist for the next generation. We can give hundreds of billions to Ukraine/Israel/Iran et al, we can approve $1.7T infrastructure packages that only include about 50% going to real infrastructure buildout, but we can't prop up social security by $50B? Makes no sense to me.
This post was edited on 10/25/23 at 8:29 am
Posted on 10/25/23 at 7:53 am to el Gaucho
quote:
And aren’t you like 40? That’s not a millenial that’s a boomer
The youngest boomers are 60
Posted on 10/25/23 at 7:57 am to WinnPtiger
quote:This right here.
most millennials I know don’t expect social security to exist 30 years from now. myself included
I have told our financial advisor to completely remove social security from our "plan" because a) I seriously doubt it will be there (or at least in its current form), and b) even if it is there, I don't want that to be considered as part of my required income, so just ignore it. If it ends up existing, I'll have some casino money.
Posted on 10/25/23 at 7:58 am to LemmyLives
quote:
It's about not buying shite from Restoration Hardware for 4x the cost you can get the same stuff from elsewhere.
Exactly. You can get the same stuff from Hobby Lobby you get from places like The Royal Standard, but for 1/3 the price.
Posted on 10/25/23 at 7:59 am to el Gaucho
quote:
And aren’t you like 40? That’s not a millenial that’s a boomer
What? Are you folks’ idea of a “boomer” someone with a family, a home, and doesn’t play online gaming? 
Posted on 10/25/23 at 7:59 am to TheMT83
quote:
How many retirees worked all their lives and then died during the pandemic, wasting all their prime years? Heck I see it with my dad and uncle. Worked all their lives and now they are in their 70s and just kind of hang out.
Better to hang out when you're 70 than bagging groceries or having to live with your kids so they can cover your expenses because you were too irresponsible to plan for the future. This generation is too full of themselves with social media look at me mentality. I go on vacations and travel without neglecting my savings account.
Posted on 10/25/23 at 8:01 am to Breesus
quote:
Working hard to provide for your family and children and then retiring once they’ve been cared for and raised and just relaxing and finding peace after the work is done is now sad and antiquated according to you?
Doing this without the proper work-life balance is.
Finding that peace while working is the goal (and is achievable).
Or, to put it another way, work smarter, not harder. Try to mold your work existence around that and not archaic views of hourly salary. If you can figure out how to do it, it makes your life much more fulfilling and enriched.
It's never been easier in the history of humans to forge your own path and create personal revenue streams.
This post was edited on 10/25/23 at 8:03 am
Posted on 10/25/23 at 8:02 am to CleverUserName
More or less. The “millenials” that were born in the 80s have more in common with the boomers than they do with true millenials born in the 90s
If you were born in the 80s college was like 300 bucks and there were still good jobs plus 4 bedroom houses were like 80k
Boomers and “millenials” got life on a silver platter and they took it and sold the platter too leaving nothing for 90s kids
If you were born in the 80s college was like 300 bucks and there were still good jobs plus 4 bedroom houses were like 80k
Boomers and “millenials” got life on a silver platter and they took it and sold the platter too leaving nothing for 90s kids
Posted on 10/25/23 at 8:06 am to lowhound
quote:
Better to hang out when you're 70 than bagging groceries or having to live with your kids so they can cover your expenses because you were too irresponsible to plan for the future. This generation is too full of themselves with social media look at me mentality. I go on vacations and travel without neglecting my savings account.
Traveling is great and all and I’ve done a bit of it. I’m on the back side of my career and will hopefully retire in the next 5 years. That said, I’m tired of the grind. I can’t imagine having to get up every morning to go hold down a job when I’m 70,and that’s a ways off. I’m still physically fit and still run a few miles a couple of times a week but dang, I’m ready for a break that lasts longer than a few days.
Posted on 10/25/23 at 8:07 am to lowhound
quote:
Better to hang out when you're 70 than bagging groceries or having to live with your kids so they can cover your expenses because you were too irresponsible to plan for the future. This generation is too full of themselves with social media look at me mentality. I go on vacations and travel without neglecting my savings account.
Yes I would rather die of bed sores in a nursing home while I get forced to fight other old people on world star hip hop rather than live with my kids
The real problem is the selfish older generations demand to live to 100 instead of dying at 56 from mesothelioma like a real man
This is why so many millenials vape. It’s called doing the right thing
Posted on 10/25/23 at 8:09 am to Jcorye1
quote:
As long as I don't have to pay for you assholes because I'm properly saving do what you want. Come after my IRA and 401Ks, I will consider that an act of war and operate accordingly.
Oh don’t worry. The student debt forgiveness crowd is the same one not saving for retirement in place of “experiences” and they’ll expect you to pay for their retirement.
Posted on 10/25/23 at 8:11 am to JohnnyKilroy
(no message)
This post was edited on 3/13/24 at 12:08 pm
Posted on 10/25/23 at 8:20 am to TheMT83
From the article
CONSOOMERS
quote:
The report found the approach to investing and personal finance by Gen Z’s — those born after 1997 — to be “softer” than previous decades.
What does that mean? It means younger investors tend to put their money in causes that reflect their personal views.
They also seek emotional connection with brands and professionals they choose to engage with, Liz Koehler, head of advisor engagement for BlackRock’s U.S. Wealth Advisory business told CNBC.
CONSOOMERS
Posted on 10/25/23 at 8:23 am to TheMT83
quote:
Soft saving refers to putting less money into the future, and using more of it for the present.
So NOT saving?
Why do we have to give things names these days that mean the exact opposite?
Posted on 10/25/23 at 8:25 am to LB84
quote:
If we're in a collapse of civilization I would laugh at anyone trying to offer me silver for anything like guns, bullets, food or water.
In a bartering system which is what we would be in with a total collapse silver will have value.
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