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re: Soft Saving Trend for Millennials and Gen Z?
Posted on 10/25/23 at 10:04 am to JohnnyKilroy
Posted on 10/25/23 at 10:04 am to JohnnyKilroy
Crawfish boils in Louisiana with family and friends is a better experience every single time than going anywhere in Europe, South America, or Canada. I can confirm.
Travel in this country, spend here.
Travel in this country, spend here.
This post was edited on 10/25/23 at 10:05 am
2
Posted on 10/25/23 at 10:05 am to TheMT83
quote:
My hope is retire from full time work at 65
not going to happen because
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.
Posted on 10/25/23 at 10:08 am to Shexter
quote:
don’t expect social security to exist 30 years from now.
They've been saying that for 40 years.
It's a scare tactic. As long as there is a United States and Politicians that want to get re-elected there will be Social Security.
Posted on 10/25/23 at 10:10 am to JohnnyKilroy
quote:
What does this look like
Probably something like a set of Charles Bronson movies. That's one of my lines in the sand to go full anarchist crazy person.
The GF is one of the most savings people I've ever met, and she would probably parachute into DC and go full operator if they garnished her retirement accounts for the poor.
This post was edited on 10/25/23 at 10:13 am
Posted on 10/25/23 at 10:10 am to TheMT83
I’m 33, have a good job, married, young child, etc. and have come to terms with the likelihood that I will be working well into my 70s. I OK with it if the trade off is getting to enjoy cool experiences with people I care about.
Posted on 10/25/23 at 10:14 am to Brosef Stalin
I freaking love traveling. It's me and my wifes favorite thing to do. Travel and go to concerts. We try and take a few vacations a year and go to out of town concerts and festivals as well.
There are few things I love more than getting out of town, getting out of this country even more. It's just me, the wife, and the dogs so we don't need a big 6 bedroom house and a big savings account because our stuff will just get passed down to our nieces and nephews. I'm 37, we tried to have kids for 5+ years and if we did have kids I'm sure my outlook would be a little different.
Me and the wife work hard and want to enjoy things now that we won't be able to do/enjoy when we're older/retired. Beaches, skiing, sight seeing, golfing, going to to other countries is much more appealing to me now than it will be when I'm 70 and just want to relax.
We sure as hell don't do it for the gram. We do it because it's fun.
For us, nice house, decent/lower savings, traveling a good bit/having fun >>>>>>>> big house, big savings, doing barely anything.
There are few things I love more than getting out of town, getting out of this country even more. It's just me, the wife, and the dogs so we don't need a big 6 bedroom house and a big savings account because our stuff will just get passed down to our nieces and nephews. I'm 37, we tried to have kids for 5+ years and if we did have kids I'm sure my outlook would be a little different.
Me and the wife work hard and want to enjoy things now that we won't be able to do/enjoy when we're older/retired. Beaches, skiing, sight seeing, golfing, going to to other countries is much more appealing to me now than it will be when I'm 70 and just want to relax.
We sure as hell don't do it for the gram. We do it because it's fun.
For us, nice house, decent/lower savings, traveling a good bit/having fun >>>>>>>> big house, big savings, doing barely anything.
Posted on 10/25/23 at 10:20 am to TheMT83
My closest friend lives like this. She spends her money and travels, saying we don’t know what the future holds. She saves some, and has a paid for house to inherit one day, so she’s got a little leeway some may not have. I put away as much as I can and don’t travel or spend. Sometimes I think she’s the smart one and I’m hoping to retire in 6 years. Early. Bc I want to live a little too bf I get old. I don’t trust our 401ks will be around for much longer. Money isn’t everything and can’t take it when I die.
Posted on 10/25/23 at 10:24 am to iwyLSUiwy
quote:
if we did have kids I'm sure my outlook would be a little different.
Posted on 10/25/23 at 10:29 am to TheMT83
It's gonna be interesting when a lot of boomers openly say that they're planning on leaning on their kids during retirement to make up for any income deficiencies.
Posted on 10/25/23 at 10:32 am to jizzle6609
quote:
Crawfish boils in Louisiana with family and friends is a better experience every single time than going anywhere in Europe, South America, or Canada. I can confirm. Travel in this country, spend here.
Posted on 10/25/23 at 10:32 am to TheMT83
Didn't read the entire thread, but I have many friends/colleagues in their 40s, mostly in urban/suburban areas who are buying smaller houses (but not less expensive, because, well its 2023) and prioritizing location close to things and schools over sq footage and yard size, keeping cars much longer and not buying luxury cars, and spending more on travel, both individual and family. Never seen more families traveling overseas.
I'm there too, and agree with it. Not thinking about retirement, while I'm health-ish and now have a few extra dollars for fun stuff I want to take advantage!
I'm there too, and agree with it. Not thinking about retirement, while I'm health-ish and now have a few extra dollars for fun stuff I want to take advantage!
Posted on 10/25/23 at 10:36 am to WinnPtiger
quote:
most millennials I know don’t expect social security to exist 30 years from now. myself included
32, and literally all my life I've been told that social security would run out well before I was old enough to benefit from it. There are no millennials who were ever expecting to see a dime, let alone counting on it.
It just shows how insanely out of touch your generation remains for that thought to even cross your smooth brain
Posted on 10/25/23 at 10:37 am to Jcorye1
401ks and traditional IRAs are already taxed higher than any other investment vehicle. You will be ok.
Posted on 10/25/23 at 10:39 am to BowlJackson
I fully expect SS to be there when I retire. Maybe some parameters will change, as they have from time to time.
It’s not something I will be relying on but I have about 0 doubt that I will be drawing from SS in retirement. I am in my early 30s.
It’s not something I will be relying on but I have about 0 doubt that I will be drawing from SS in retirement. I am in my early 30s.
Posted on 10/25/23 at 10:40 am to winkchance
quote:
So many people like you describe are not happy or satisfied with anything that they already have or the life they currently live. They don't like where they live, how they live or what they currently have - there is always something better that means more to them.
I read one time that true happiness starts with wanting what you already have. So many people cannot appreciate anything baout where they are in life.
I see the exact opposite...more people posting daily about their big houses and fancy cars and boats, just to show they are keeping up with the Joneses. For most people travel is a way to see the world and have fun with friends and family. I doubt most people who travel to the Carribean actually want to live there.
Posted on 10/25/23 at 10:51 am to beaverfever
100%. I don’t see this angle talked about much but it’s very true. Same with my folks.
Posted on 10/25/23 at 10:57 am to jizzle6609
quote:
Crawfish boils in Louisiana with family and friends is a better experience every single time than going anywhere in Europe, South America, or Canada. I can confirm.
This is insane. Yes, crawfish boils with family and friends is an awesome time. Like most Louisiana dudes I go to as many as possible
But a crawfish boil on one Saturday is not even close to week trip to Europe or South America. I can confirm that as well.
Our next big trip is Scotland next year for a week and a half. Sight seeing Scotland, drinking, and playing courses where golf was invented is quite a bit more fun and memorable than the crawfish boils I go to 3-4 times a year since I was a kid. You're obviously going to the wrong places with the wrong people if you truly believe that.
This post was edited on 10/25/23 at 10:59 am
Posted on 10/25/23 at 10:58 am to Epic Cajun
Well this is how all therapy companies in long term care are operating now due to massive Medicare cuts
I may just have to quit the profession all together
I may just have to quit the profession all together
Posted on 10/25/23 at 10:58 am to iwyLSUiwy
quote:
Our next big trip is Scotland next year for a week and a half. Sight seeing Scotland, drinking, and playing courses where golf was invented is quite a bit more fun and memorable
Do you close your eyes and still pretend you’re on one of your past trips? Wow I’m so jealous of your memories
Posted on 10/25/23 at 11:01 am to JohnnyKilroy
Smash the ROTH ira.
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