MontyBrunswick
Posts: 846
Dec 11, 2015 3:33pm
http://howmuch.net/articles/how-much-millennials-have-saved-up
Smh another strike against the worst generation. Too busy buying what is the new thing. Phones, tablets and computers.
Completely disgraceful
Smh another strike against the worst generation. Too busy buying what is the new thing. Phones, tablets and computers.
Completely disgraceful
Automatik
Posts: 14,632
Dec 11, 2015 3:35pm
More like 62% of the entire fucking country.
http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06
http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06
Midstate01
Posts: 14,766
Dec 11, 2015 3:37pm
Used to be this way. Lived paycheck to paycheck, bought what I wanted, not what I needed. Being married and having a child changed that.
Key was using any extra money we had to pay on the bill of the highest priority. Till we were out of debt. Then started saving all that extra. Now we bought a car with cash and am saving for the next one.
Everyone is different but that's how we did it.
Key was using any extra money we had to pay on the bill of the highest priority. Till we were out of debt. Then started saving all that extra. Now we bought a car with cash and am saving for the next one.
Everyone is different but that's how we did it.
B
bigkahuna
Posts: 4,454
Dec 11, 2015 3:49pm
I don't waste my money on things I don't need, but I don't have $1000 in savings either. I have college debt weighing me down, and that takes a good chunk of my money outside of the normal house and car bills.
I don't think I'm a millenial though; I was born in '86
I don't think I'm a millenial though; I was born in '86
Automatik
Posts: 14,632
Dec 11, 2015 4:25pm
We are.
'84 here.
'84 here.
Belly35
Posts: 9,716
Dec 11, 2015 4:38pm
49 here ... VA money, SS money, Retirement Money, Saving Money hope this helps
Commander of Awesome
Posts: 23,151
Dec 11, 2015 5:26pm
Student Loan Debt, and lack of foresight seem to be the #1 reason here. I see it at my office. I work in a young office, most ppl between the ages of 22-28, and most spend more $$$ than they should to live in a "safe" area AND a nice place. Then spend the rest going on big vacations, going out, eating out lunch every day, etc...
Weird talking to ppl just starting out in their careers who have rents significantly higher than mine.
Weird talking to ppl just starting out in their careers who have rents significantly higher than mine.
ZWICK 4 PREZ
Posts: 7,733
Dec 11, 2015 5:33pm
I didn't when I first started my career. Now I put more than that in monthly. They'll get there. Sometimes it takes awhile.
sleeper
Posts: 27,879
Dec 11, 2015 5:39pm
Such a dumb study. Might as well have a study that says "100% of 0-16 year olds have no jobs, less than $100 in savings, live with their parents, and don't even have a college degree!"
sleeper
Posts: 27,879
Dec 11, 2015 5:41pm
No different than any other generations at this age. Boomers also did all of this while racking up $20T in national debt.Commander of Awesome;1769057 wrote:Student Loan Debt, and lack of foresight seem to be the #1 reason here. I see it at my office. I work in a young office, most ppl between the ages of 22-28, and most spend more $$$ than they should to live in a "safe" area AND a nice place. Then spend the rest going on big vacations, going out, eating out lunch every day, etc...
Weird talking to ppl just starting out in their careers who have rents significantly higher than mine.
I'll take the financial prowess of millenials any day over that of the Boomers.
HitsRus
Posts: 9,206
Dec 11, 2015 5:42pm
Historically, Low interest rates discourage savings also.
it's really about having a financial plan, and the discipline to "pay your self first" no matter what.
it's really about having a financial plan, and the discipline to "pay your self first" no matter what.
MontyBrunswick
Posts: 846
Dec 11, 2015 5:49pm
sleeper;1769060 wrote:I'll take the financial prowess of millenials any day over that of the Boomers.
the link says otherwise.
a generation of lazy entitled (broke) brats
iclfan2
Posts: 6,360
Dec 11, 2015 6:31pm
Not shocked, I'd consider 90% of Americans, young or old, to be borderline financially retarded, and stupid in general.
HitsRus
Posts: 9,206
Dec 11, 2015 6:33pm
This.iclfan2;1769067 wrote:Not shocked, I'd consider 90% of Americans, young or old, to be borderline financially retarded, and stupid in general.
Commander of Awesome
Posts: 23,151
Dec 11, 2015 6:43pm
Humblebrag Alert. GUISE ZWICK WANTS YOU TO KNOW HE SAVES A LOT OF MONEY (BC HE MAKES A LOT, LIKE A LOT, YOU CANT EVEN IMAGINE HOW MUCH YOU LOSER)ZWICK 4 PREZ;1769058 wrote:I didn't when I first started my career. Now I put more than that in monthly. They'll get there. Sometimes it takes awhile.
Heretic
Posts: 18,820
Dec 11, 2015 6:54pm
MontyBrunswick;1769042 wrote:http://howmuch.net/articles/how-much-millennials-have-saved-up
Smh another strike against the worst generation. Too busy buying what is the new thing. Phones, tablets and computers.
Completely disgraceful
Automatik;1769044 wrote:More like 62% of the entire fucking country.
http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06
Well, if 51% of millennials are in that sub-1K class and 62% of Americans overall are, that would go to show that millennials are above the curve in comparison to Americans in general. Despite having less time to gain and hoard wealth. Which makes your second post appear to be you going pure Footwedge by going all-in on your initial stupidity. I like to be entertained, so please continue.MontyBrunswick;1769062 wrote:the link says otherwise.
a generation of lazy entitled (broke) brats
ZWICK 4 PREZ
Posts: 7,733
Dec 11, 2015 7:23pm
Shocked it went over your head. Shocked!!!Commander of Awesome;1769069 wrote:Humblebrag Alert. GUISE ZWICK WANTS YOU TO KNOW HE SAVES A LOT OF MONEY (BC HE MAKES A LOT, LIKE A LOT, YOU CANT EVEN IMAGINE HOW MUCH YOU LOSER)
The point isn't how much money you make or don't make, it's about when you get to a point where initial debts and incurred costs ( student loans, first car, etc...)are finally paid and you have extra disposable income that you didn't have early on in your career. But by all means, continue to be your insufferable self.
Automatik
Posts: 14,632
Dec 11, 2015 8:56pm
Consider the OP.iclfan2;1769067 wrote:Not shocked, I'd consider 90% of Americans, young or old, to be borderline financially retarded, and stupid in general.
MontyBrunswick
Posts: 846
Dec 11, 2015 9:07pm
Lol, now you're trying to rationalize the ignorance of the millennial generation. LmaoHeretic;1769070 wrote:Well, if 51% of millennials are in that sub-1K class and 62% of Americans overall are, that would go to show that millennials are above the curve in comparison to Americans in general. Despite having less time to gain and hoard wealth. Which makes your second post appear to be you going pure Footwedge by going all-in on your initial stupidity. I like to be entertained, so please continue.
Not surprised. The spoiled entitled children love to blame everyone else for their problems
Automatik
Posts: 14,632
Dec 11, 2015 10:05pm
I'm doing rather well.
You seem like a miserable old fuck.
Hope this helps.
You seem like a miserable old fuck.
Hope this helps.
FatHobbit
Posts: 8,651
Dec 11, 2015 10:09pm
I have very little in savings. I put most of my "excess money" into my 401k, hsa and company stock.
S
Sonofanump
Dec 11, 2015 10:18pm
I believe this is the way to go, as long as your net worth is easily liquid and can be transferred for emergencies.FatHobbit;1769085 wrote:I have very little in savings. I put most of my "excess money" into my 401k, hsa and company stock.
G
gut
Posts: 15,058
Dec 11, 2015 10:42pm
For purposes of this study, I think, 401k would be considered savings. On a related note, a huge percentage - maybe over 40% - leave money on the table not contributing enough (if at all) to get their full employer match.FatHobbit;1769085 wrote:I have very little in savings. I put most of my "excess money" into my 401k, hsa and company stock.
Nothing new - the vast majority of Americans for some time have only had equity in their house and social security as their retirement nest egg.
And I'm shocked, absolutely shocked, that financially illiterate parents have financially illiterate children. It was drilled into me that just because I had the cash didn't mean I could actually afford that nicer apartment or nicer car.
ernest_t_bass
Posts: 24,984
Dec 12, 2015 9:48am
I'm indifferent on this issue. I mean, if they are budgeting properly, then OK. You can't take this fucking money with you when you go...
Heretic
Posts: 18,820
Dec 12, 2015 10:53am
Nope, just highlighting your foolishness. Which is kind of like shooting fish in a barrel, but I'm in a lazy mood and don't feel like challenging myself today. It's the weekend and all, you know?MontyBrunswick;1769076 wrote:Lol, now you're trying to rationalize the ignorance of the millennial generation. Lmao
Not surprised. The spoiled entitled children love to blame everyone else for their problems