re: Soft Saving Trend for Millennials and Gen Z?

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BowlJackson

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I’m also 32, but unlike you an Penrod, reading comprehension isn’t out of my grasp. you’re a fricking retard

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most millennials I know don’t expect social security to exist 30 years from now. myself included

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Same here. Except they’re just going to replace it with something much worse.

That sounds good at your age.

When you’re in your fifties after working for 30 years you’ll wish you had saved more.

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The millenials born in the 90s have been through every economic crash

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Gen X went through all those too and you can add the dotcom crash as well. Try having your retirement savings cut in half a couple of times to your retirement projections.

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Gen X was also the beneficiary of entering their prime earning years at the start of the greatest bull market in history.

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And houses were like 20k. This is why economists refer to them as “flannel boomers” and 90s millenials as “the lost generation”

Like one poster said this thinking is purely due to being selfish.

I save not only for my retirement but also to have something to help my kids and when the time comes leave for my kids to give them a head start. I have been paying attention and in 10-15 years I can’t see how a young couple will be able to afford to purchase a home and raise kids without a head start.

I brought my kids into this world and it’s my responsibility to not only raise them to be great people but also give them every opportunity to be successful in their own lives and when they choose to raise my grandkids.

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It’s just another sign of self-centered, now now now behavior

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Jesus Christ

You people really need to get fricked

Seriously

It's a sign of hopelessness

"Jeez my parents had a house and a new car and a family when they were my age... I can barely afford my apartment"

Therefore they just accept the fact they will never retire, they still want to buy nice things for themselves that they deserve because they work hard, so they put a lot of things on their credit card and rationalize it by saying 'eh I will probably die before I retire anyway'

It is a symptom of a system that you retarded boomers created

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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. They really aren't in shape to travel or do a lot of other things.

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That's honestly not an unhealthy observation. You keep working hard and packing away for a rainy day....but a pandemic happens or some awful event takes your life and you didn't get to do the things you wanted.

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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.

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Time is the most valuable commodity for me. My company is known for high comp but also a terrible work/life balance. I'm starting to seriously consider ways to earn passive income and slowly phase out my salary so I can have time for myself and my family later.

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Anyone else deciding to spend more now even if it means less later for retirement?

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I'm at a point in my life where I don't really want the latest and greatest car or clothes as much. I also travel so much at work that I don't really want to travel that much either. I want to max my time with my parents and my kids while we are all here together though.

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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.

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Nah I'm still saving as much as possible for retirement and I'm actually close to target (I'd be beyond it if we ever fully recovered from 2021-2022). My wife is maxing her contributions and putting away as much as possible too. People are living longer and we want to be prepared just in case.

Have to find the right balance here. And if you do die young, your kids are going to get what you stashed away. Worse things have happened than that.

Bro you can’t argue with the “bucket list” people


They’re mid 40s men basing their lives on a made up marketing term they heard in an Olsen twin movie 30 years ago

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most millennials I know don’t expect social security to exist 30 years from now. myself included

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So how would this lead to the conclusion of "spend my money now"? Logic should lead you to the conclusion of saving as much as possible sooner. Time value of money and what not.

I always think about this visual:



We are well into the weak men create hard times phase. Will be interesting to see if this country can survive it over the next 30 years.