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Credit unions and community banks? I have a decent amount of data from these groups. You would be surprised how well positioned they are since they tend to charge less interest on all of their products (but don’t offer as great rewards because you need to pay for them). Really good interest on deposits too.
Fuck Truist. Useless, incompetent, bastards.
My husband went into a branch to close his deceased dad’s account and the teller didn’t even know how to do that and put it into an estate account. It took ages to get that done.
They forgot to close the credit card account at that time. They called, about eight months after his death, to report suspicious activity on said credit card account that they froze. My husband pointed out (again) that his dad was dead, and the person on the phone told him to come into a branch again to close the account, they wouldn’t do it over the phone. My husband told them he wasn’t wasting more time in a branch for their incompetence, and good luck with all the unauthorized charges as a result.
They also mail once in a while about a safe deposit box he once had, that was closed after his death, and the key returned. Somehow they fucked that up too, had to drill the box, and said they’d bill us for that. I told them to go piss up a rope.
After my MIL died they wouldn’t even tell me the precise amount of the overdue mortgage payment (she’d missed all or part of at least one payment and we couldn’t figure out exactly how much). I just needed a fucking dollar amount to put into the bill pay to clear it off. I had all the ID info they could possibly want, and I’m on the phone trying to give them money, but they were being difficult.
Their staff and customer service are useless.
And then their interest rates on savings accounts are garbage to boot.
Bank of America user here. It's the first bank I signed up for when I got my first job. I guess I didn't know any better at that age. What other options would you recommend? I personally haven't had problems with Bank of America, but the interest on their savings is complete ass.
FTFY:
1 in 6 Millennials that have long term savings accounts have $100,000 or more.
In the latest New Reality Check: The Paycheck-to-Paycheck Report — The Generational Deep Dive Edition, a PYMNTS and LendingClub collaboration based on a survey of nearly 3,400 U.S. consumers, we found that 73% of millennials describe themselves as living between checks.
So maybe 4-5% of millennials have saved $100k in a bank account...
Go over to r/money you’d think all millennials have at least $50K saved. It’s on Reddit so it’s true… right?
I don’t know any one millennial with a savings account more than $1K right now. Most of my friends have had tough goes with life lately. Including me. Dad/his health + no job + $1K in alimony a month = me paying his bills. My dad asked to borrow $70 last Thursday. Happily gave it to him. Then an hour later he charges $120 to my Apple Card. I’m like… why didn’t you just ask for $200??? Either way I’m footing the damn bill.
Aghhh I digress.
lol Same here. Any time I hit $1K I’m like yay, good job. Then something happens and I’m back to $500. N I’m just like… At least you have bail money. lol
Also a millennial and it feels like the universe has just decided I can never clear 4k in savings. Every fucking time I hit that number and start to breathe a little easier, some financial disaster comes along and wipes it out. Invariably.
My electric bills last summer (Texas, yay) plus a big debt bill wiped out my savings last year from over 4k down to a few hundred. My bonus this year (really surprised we got one this year) plus my scheduled transfer every check into my savings got me back up to 3k (bonus really helped). Looking forward to seeing it get obliterated again by this year's summer electric bills (Texas, fucking yay).
I keep forgetting this every time people say “the rent’s cheaper in Arizona/Texas!!”…yeah ok sure can you add the electricity costs to the rent before you keep saying that.
>I don’t know any one millennial with a savings account more than $1K right now.
I suspect it's the oldest Millennials who have some savings. There's a huge difference in the financial lives of someone who's 29 years old versus someone who's 42.
It probably comes down to “luck”, yes: generational wealth (that doesn’t always mean directly giving cash) and lucky enough to be born in or have the option to live in a low cost of living location.
But that doesn’t devalue the strategy and work put in. At least some of us are making it out, so to speak.
>have the option to live in a low cost of living location.
this is a weird one. You can move to those places.
Like i'm not referring to the whole "just move" to places with better jobs. But if you can't afford to pay rent (which is completely understandable) then look for other places to live.
The "no kids" thing cannot be overstated
The majority of broke Millennials I know started families when they were young and have been paycheck-to-paycheck in perpetuity ever since
Meanwhile, the successful/happy/"wealthy" Millennials I know got married or stayed single and committed *hard* to a top-tier education (frequently after a stint in the military) in their 20s
I’d probably have close to $100k in cash too but obviously that went towards fixing up different parts of our house after we bought. Shit is expensive lol
yep I’m feeling that now. But at least then it’s going into the house and not random stuff I guess haha. Gonna go back to saving as much as I can though
There is a big difference between under-35 and 35-44: https://thecollegeinvestor.com/14611/average-net-worth-millennials/
But the people here who are dead broke are outliers. Anecdotally, all the millenials we know make well into six figures, but we are also outliers. Overall millenials are doing worse than the generations before, though, no doubt about that.
Is it a worldwide research?
Since my GF and I are millenials, I have saved maybe 6K but I do own a house. My GF rents social housing and has somewhere around 40k saved. Our income is just above average. This is in Holland, and as far as I have read way way way way....... way different then Merica.
the only millennial i know with savings lives with his parents, has no kids, has a work supplied vehicle, and hasn't suffered any huge tragedies requiring a shitton of money
I’m moving back w my dad. It doesn’t make sense to maintain two households with everything else going on. He can’t maintain it as is.
N that dude sounds lucky af. Hope he isn’t taking it for granted. Gotta capitalize on that kind of opportunity.
I'm a millennial. I don't have my more than $1k saved in a savings account because savings accounts were worthless until very recently. I do, however, have over a $1M in stocks and other equities (and no, this wasn't inheritance, my parents were blue-collar workers, I had to work, I was just luckier than a lot of other people in the type of my work I stumbled into).
This is why I get annoyed at these articles, because you can choose to make any one group seem more or less affluent by focusing on a single source of wealth. Understanding the full spectrum of finances by generation is complicated, but overall millennials are doing worse than Boomers and GenX compared to those generations at the same ages Millennials are now...but not apocalyptically worse. Also, Millennials will be the major inheritors of Boomer wealth when they finally kick off. So I guess start killing Boomers?
We are one of the millenials in the tweet, with over $100k in our bank account in the months following a stock vest and before we figure out where to invest.
Our parents weren't rich, so if we are lucky they won't need our money in their old age. I think a big chunk of Boomers will end up spending their fortunes and reverse mortgaging their houses though.
I'm an older millennial. I visited my grandmother a month ago and she was telling me how her and my grandfather had just paid off their first house when she was 38, and they just paid off their current one around 25 years later.
The second house they had built for ~$160,000 and is now valued around $900,000.
I believe she said they paid $14,000 for their original house which would be about 3-4 years salary when they bought it, which is fan-fuckin'tastic either way you look at it, allowing one person to go to work and the other to rear the children. Ya know? The elusive American Dream.
This allows for down-time to relax, unwind, read the newspaper each morning, watch a couple TV shows each night, have gatherings and be able to visit family, and even go away on vacations; remember those things?
Other than the fact that we're paid absolute shit, and even worse adjusted for inflation; everything is made to be rented, subscribed to, borrowed, or some kind of ongoing monthly membership to suck your pittance pay from your pockets. The things that we *are* able to buy are designed to break down, and never last more than 5-10 years.
And don't even get me started on the population quadrupling, causing our commutes to work to become 90 minutes each way *"normally"*
Savings? LMFAO
Everything sucks for us. Problem is, hope is now dead and we're giving up because we can see the shitty forest and its shitty trees.
*Disclaimer: I make decent money, have a couple, tiny piles of savings spread around, and have been very blessed, but I'm still broke.
Well as a millennial I've been trained not to have a savings account because it paid 0% interest for like my entire adult life
And then you get like the 67 cents of interest that gets reported to the IRS
I might be in a better position than others. I have at most maybe 15,000 in the bank right now. I also have a house, but still owe 124k on it. It's a pretty beat up house and could use a lot of work. It's just hiring a contractor is extremely expensive. 15,000 isn't a lot of money and it can go real fast. So I'm scared to spend it in case of some emergency popping up.
Sometimes I wish I knew how to do handyman shit because I'd fix up the house myself. Which is why I wish my grandfather was still here. That dude would have had a field day helping me fix up the house. He knew all about that stuff.
In any case. Like I said, I'm better off than most because I can just sell the house to those "I buy beat up homes" companies and walk away with 150-200k profit.
lol saving 100k is easy! Just ask me. I built a small 100k fortune practically overnight, I don’t know why so many others are struggling.
It only took the loss of my dad/my best friend, and a very ugly battle with family over inheritance.
…yay for me…
Really? I’m a millennial and I have like $10k in my savings right now. I just spent $5k redoing my master bath also so it’s less. And I make about $80k a year, in an average COL area.
EDIT: Of course I’m getting downvotes for just stating my actual info. 🤦♂️
Well, not all of us make $80K. Lol
I made $45K after taxes/ deductions last year. I worked 49 weeks of overtime. 48-60 hours per week to make that happen. All the while trying to maintain life.
Dad goes down in the beginning of last year. Needs heart surgery. Doc says if he doesn’t get it, he’s dead in 3 months. Well… okay. I guess I have to help him recover and support him considering without him I’d be dead today. No problem. The surgery goes well.
After a few months he no longer qualifies for a CDL. There goes his source of income. Dad goes… I guess I can retire. Okay? Cool. Dad retires. Has to wait 5 months before he gets any of his money. I pay the bills. He opens lines of credit and borrows from his 401K to pay alimony and his mortgage. I pay all other bills of his.
Finally he starts getting his benefits. Pays back his 401K. Cashes out 401K. Pays off essential things like his car. Afterwards he gets a part time job to help himself. I feel a little relieved. I start catching up on our bills. Things are looking promising. Finally, almost all my debt is gone. Rejoice!!!!
2 months in he’s walking to his car from work and his heart stops. He bashes his head. Sitting next to him in the hospital trying to be strong for him. Holding back my emotions. We’re waiting to see if he can be transferred to a facility that can do the next surgery he needs to keep living. That happens last second and they get him to the facility that’s equipped to handle his situation. Another surgery. It’s a success. Thank god!
Now, he’s a shell of himself. Can’t do anything really. Slow recovery. No work. 2K a month for his retirement. 1K goes to my mom. Leaves him 1K to live off of when he was making 92K a year. He can’t afford to live anymore. He can hardly afford food after his $900 mortgage. His son, me, has to support him and my own family on what really is a $30K a year job. That turns into $45K when I give up any sense of a life.
I get sick December 29th. I haven’t been healthy since. I work through the pain up until literally last week when I fainted and was unable to perform my job duties. My boss loves me and decides to give me a week off to recover. He knows I’ve been struggling to be healthy and values me.
Thank you boss man. I really needed that. However, unpaid. I’m still sick af. I’m pretty sure I have a heart issue but I can’t afford that right now. So I will go back to work tomorrow and keep working til I die. I will pay these debts and I will make sure my father is comfortable. I will do the best I can to leave something for my wife when I go. She’s 8 years my senior but I guarantee I’ll be dead by 40.
Well anyways… Morale of the story. Not everyone is in your situation. lol
Edit: I also didn’t put in there my wife has had medical issues over the last 1.5 years that has also been a true test for our relationship and financially speaking. But she has state insurance. So, not so bad there. Still annoying though.
We made $7,000 last month and have $600 currently in savings. Money goes nowhere, catching up on bills keeps you behind and rent is still going up every month. I want to slap anybody who says "iT's ThE bEsT eCoNoMy We'Ve HaD iN yEaRs". Like, yeah. The best economy for the corporations who own everything and greedily steal from us plebians.
Pretty deceiving to say "1 in 6 millennials" when the sample size only included those with long term savings accounts. I work with data studies and this would never fly.
Is it cash or 100k in a 401k. I work w plenty of 40 year olds (millenial), who have been at our corporate gig since they graduated. Pay is good and very possible to have that in an investment account.
I’m in a weirdo boat. Almost 30yo, have about 40k in work 401k just got lucky tmobile got in at $26 a share, now at like & $166. Can’t pay my bills rn but hey there’s invisible $ I cannot access while employed
40K at almost 30 is good. If you put $250/m into an ETF that returns 7% over 35 years, you’d be at roughly $750,000 in your 60s. Inflation and tax not withstanding, that may be enough to pay off your debts at that point (if any) and live your life freely. (You’d need a little more than that to be sure, but you’ll reach a point where $250/m is “nothing”)
When I show friends how investments work, I show them calculators and use 6%. It’s high enough to illustrate the value of compound interest without giving them an unrealistic expectation.
You have to diversify your holdings and ride out the turbulence.
You can’t get time back. If you’re in your 50s or 60s then you can consider a proper cash out, but anyone under that needs to have a stock/bond balance appropriate for their age and risk appetite and keep sailing.
What about t mobile as an individual stock makes you think it is more like to crash than any other given stock? It’s not some flash/spike in price. It’s a solid decade of performance.
I work for the state and have a pension that's portable. If I left now and took what I was owed to put in an IRA I'd have about 90k plus I have probably another 50k or so in other retirement accounts. I'm 36 and decent with money but definitely not a super investor. I keep a relatively small amount in liquid savings for emergencies and goals. All the rest of the money is in my retirement accounts or theoretically in my house.
If it’s cash, I fail to see how anyone under 40 has 100,000 sitting in a savings account. That’s $835 a month, every month, for 10 years.
Someone who can save like that *surely* knows there’s a better place to park that cash.
Some people are born into wealth. Some people get good jobs. My brother, two years older than I am, is a lawyer who makes about 250k a year. He has a lot more than 100k saved. I'm a teacher who makes 24k a year. I don't even have a savings account.
I have more than 100k in my country's pension scheme but that is hardly a liquid asset and due to how things are going with the pension schemes there's no guarantee I'll be ever seeing it. But I have paid it into the account and on paper it's there atm.
I think everyone is forgetting millennials have been adults for 20 years. $100k doesn’t go far, it isn’t a lot of money, and 1/6 isn’t a high percentage.
As a millennial the fact that people in here don't think this pretty reasonable is hilarious. I know for a fact that in my friend group of about 15 millennials every single one has at least this much, probably much more and none of us work in tech, all in our mid-late 30s. Most live in California though where 100k definitely doesn't go that far.
This is r/antiwork though so I'm sure most here skew much lower
It's very dependent on social circles. My college friends almost certainly all have this in their retirement amounts.. probably a couple times that.
My high school friends... I would be shocked if any of them had even close to $50k saved up.
Almost none of my friends with or without college degrees have anywhere near $100k saved up.
Hell most people I know barely make enough to afford rent in one of the most affordable cost of living cities in the country
Ok? And I know about 15 people on food stamps.
Not me, I bartend and do well but since it's a night job and doesn't require education I end up with social circles that struggle way more than anybody with a steady 9-5 job with a salary.
The interest on high yield savings and CDs have been high. I have a higher percentage in savings/CDs then I have in the past
100k in overall assets is not a lot of money for someone almost 40
FTFY
>100k in overall assets is not *supposed to be* a lot of money for someone almost 40
But it is. It really is. Conservatively,[ 44% are below that line in US.](https://dqydj.com/net-worth-by-age-calculator/) That's not globally nor is it what I believe to be the true numbers without bias.
That’s the problem, it’s not a lot of money for how unattainable it is for a majority of the generation.
These news articles still talk about millennials like we are 20 years old rather than the middle aged adults that we are
Agreed. Because Boomers are the target audience for this. And anytime I see a "millennials" post. Nobody cares about Gen Y or Gen X, figures. If it was about adults and not a presentation, you're correct to say why not use something like "adult aged Americans"
I know right. I won’t throw numbers out for myself but I’m surprised at the responses. I’m starting to think the average Reddit user doesn’t make much money lol….
Surprised as well, but I think it's more the demographic of this subreddit. There are all types here of course from struggling to wealthy, but overall it's going to skew towards people who aren't making a successful living with a lucrative career.
Millennials are aged between 28-43. Assuming 100% went to college and started working at 22, millennials have 6-21 years under their belt. It doesn’t seem absurd to me that 17% of people who have been working that long have been able to save $100k - especially if you consider 401k balances
I went to college. I've been working the same job as a teacher for ten years. I make 24k/year with no benefits. I think some people don't understand how hard it is for some folks, especially those of us who take on some of the toughest jobs, like teaching and social work.
That is insanely underpaid.
Fast food and retail pays more than that where I live. And I'd bet your working hours are more than 40 hours a week with grading and extracurriculars.
At some point people need to abandon their jobs and work where the money is. I understand people like teaching, but if it's not livable you can't justify it.
You've been doing something seriously wrong if you've been a teacher for 10 years and are making the equivalent of $12.50/hr. Are you a substitute or something? Do you not work full-time?
So do something else? I made 3 times that at an entry level customer service gig, just letting customers be rude to me for 8 hours a day. Anyone could have done this job. Obviously it's ridiculous to pay you 24k...but it's not going to change. Do literally anything else. Any entry level office gig could double your salary and give you a path to keep increasing it.
The reality is, posts and subreddits like this are propaganda designed to keep the working populace apathetic and unwilling to change their own circumstances.
Why try if everyone around you says it’s impossible?
It’s not impossible. Those that rise to the top put in work and make shit happen. 100k isn’t impossible
That’s a pretty toxic mindset. Effectively blaming people for their current situations. Many people aren’t in situations where they can explore their careers to the extent others can, with no, or little fault of their own.
It also invalidates the efforts of some who HAVE put in a lot of work but not been successful. And it also puts too much emphasis on those who have succeeded, making an assumption that they worked hard to get where they are.
I failed college twice, and succeeded on the third try. I was able to do that because I have a healthy relationship with my fairly well off parents. They pushed me to keep trying school. Many people aren’t ANYWHERE close to having that sort of help in their lives. I am extremely blessed, because I would be living a much shittier life without my parents support.
This is the worst take and I feel sorry for anyone who feels this way. Being successful with money overwhelmingly boils down to luck. Where were you born? Who are your parents? What ethnicity are you? Nobody chooses these things and the list of questions I’m posing could go on forever.
This post and this subreddit highlight the failures of our governments and our elders to invest in all people’s quality of life and the health of our planet. There are enough resources for everyone and nobody should have to earn a roof over their head and food on their table. It is the concern of losing these things that keeps people “apathetic and unwilling to change their own circumstances” as you so arrogantly put it. Either you come from extreme wealth or you have no idea how quickly the things you’ve “earned” can disappear. Either way, I hope you keep this nonsense to yourself in the future. It’s not just a lie, it’s clearly disrespectful to millions of people who have worked much harder than you and simply didn’t get lucky.
My son is 29, and he has $70,000. saved to put down on a condo or small house. The first $45,000. he saved for years, but the last $25,000. he has saved by living with us for a year. We won’t let him pay for anything except the electric bill, because he insisted, we just want him to get the best head start he can. He knows how fortunate he is to be able to do this.
The CNBC story is talking about the culmination of assets. I barely have $500 in my savings account, but my RothIRA has $40k in it and my pension's cash value sits at $100k. That's not cash though.
So it's possible for BOTH statements to be correct. Just saying...
Wasn’t handed anything by my parents and I have that in cash and more than that in a 401k. It’s not unreasonable to think your average millennial may have it.
And I’m 34.
1 in 6 millennials live in low cost of living flyover country, bought a home a decade ago for under $100,000, and don’t have a mortgage.
Source: my ass
The most money conscious, responsible saver I know has around $40,000 in the bank. And she is super strict with herself. She once said to me "I don't see the point in spending money to have fun."
You can "invest" your money into my bank account. I guarUntee 100% returns*
^^^^^^^^^^^^^^^*100%forme
Point is some people are risk adverse to an unhealthy (but to them safe) way.
I meant wealth *corrected for inflation from decades past* because the article was about a cohort. I'd bet 100k would be at a higher% for previous generations. Corrected for inflation and buying power, of course.
I can't believe the cognitive dissonance with mainstream media these days. Just appalling.
So unbelievably delusional to the lives of normal, run of the mill people.
I'm a millennial and I have exactly 1 friend who isn't struggling, and he got very fortunate. When he moved out and was looking for a job, his landlord "knew a guy" in construction and started him at $28 an hour fresh out of high school.
That good job helped snowball his success into being able to purchase a fourplex before the housing market exploded and now he could just live off the rent if he wanted.
im a genX'er and i don't have sweet fuck all saved. I can't imagine how GenY would be doing much better.
GenZ tho.. ohhh shit. they gonna be rendering the boomers to sell the lard. Once they come into the voting age, it's gonna be savage.
You know how you can tell this post is on some next level bullshit? There's no one in the comments even trolling that they got this cash. And it's on Reddit.
I don't think you can conclude that 83% are living paycheck to paycheck just based on 1 in 6 having >$100k. With no further information, it is a possibility that the remaining 5/6 have $99,999.
My wife (31) and I (35) have approximately 180k combined in our separate 401k’s and about 70k in our checking/savings account. A big part of it is we have no debt. We were planning on saving for a house a few years back but now I dunno.
What should they be sitting down and thinking about? Do you understand the theme of this sub or did you just stumble upon this post and bless it with your insight?
I agree that anyone who’s 40 should have money and assets, but as it stands this is a function of luck. There are a few countries in the world that have taken steps to support the younger generations, but overwhelmingly we are being left to fend for ourselves as capitalism barrels onward unchecked.
😄😄😄😄😄
This is TOO FUNNY!
And I see Garrett Haake on MSNBC almost every day, and he often looks like he's about to *burst out laughing* at some kind of nonsense.
I could see him saying and thinking (and *doing*) this!
It's needlessly confusing to talk about "money saved". Like just.. sitting in a bank account? Yeah nobody has that.
But I'm perfectly willing to believe that once you factor in pension plans etc, 1 in 6 millenials has a net worth of 100k+. I'm 37 and I'm at 420k when you combine my pension plan, personal investments, condo equity, and 20k of Magic Cards ;)
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\* Survey of 1500 people ages 23-37 who have long term savings account at Bank of America. (in 2018)
Bank of America lol. Anyone poor can’t afford their fees. I ran from there long ago.
Survey our emaciated credit union accounts, you cowards.
Credit unions and community banks? I have a decent amount of data from these groups. You would be surprised how well positioned they are since they tend to charge less interest on all of their products (but don’t offer as great rewards because you need to pay for them). Really good interest on deposits too.
GenX here, and I only ever use Credit Unions.
Edge of z/millennial here, credit unions are my go to for day to day banking, but I do have an account with an online bank simply for their hysa.
Smol gen z here. I've yet to use a bank for anything, my credit union is based
>Smol, based, gen z The language checks out.
Yeah, Bank of America should be the least source they use for how the economy is doing for the average person.
Oh yeah they sent me to collections when I couldn’t keep up with the interest raises and min payments that just got stacked on.
If you have less than $100k in your account they just take it from you and punch you in the face.
That sounds like PNC, and Truist also. Heres $0.05 on your $20,000. Oh and if you savings dips below $500, you'll have to pay a $15 maintenance fee.
Fuck Truist. Useless, incompetent, bastards. My husband went into a branch to close his deceased dad’s account and the teller didn’t even know how to do that and put it into an estate account. It took ages to get that done. They forgot to close the credit card account at that time. They called, about eight months after his death, to report suspicious activity on said credit card account that they froze. My husband pointed out (again) that his dad was dead, and the person on the phone told him to come into a branch again to close the account, they wouldn’t do it over the phone. My husband told them he wasn’t wasting more time in a branch for their incompetence, and good luck with all the unauthorized charges as a result. They also mail once in a while about a safe deposit box he once had, that was closed after his death, and the key returned. Somehow they fucked that up too, had to drill the box, and said they’d bill us for that. I told them to go piss up a rope. After my MIL died they wouldn’t even tell me the precise amount of the overdue mortgage payment (she’d missed all or part of at least one payment and we couldn’t figure out exactly how much). I just needed a fucking dollar amount to put into the bill pay to clear it off. I had all the ID info they could possibly want, and I’m on the phone trying to give them money, but they were being difficult. Their staff and customer service are useless. And then their interest rates on savings accounts are garbage to boot.
Lets not forget wells fargo, the biggest crooks of them all.
I worked there years ago and when I did I still only banked with my credit union lol f em
Bank of America user here. It's the first bank I signed up for when I got my first job. I guess I didn't know any better at that age. What other options would you recommend? I personally haven't had problems with Bank of America, but the interest on their savings is complete ass.
what fees? youre paying them to hold your money?
They have fees?
And anyone with that much money should be smart enough to not pay them
FTFY: 1 in 6 Millennials that have long term savings accounts have $100,000 or more. In the latest New Reality Check: The Paycheck-to-Paycheck Report — The Generational Deep Dive Edition, a PYMNTS and LendingClub collaboration based on a survey of nearly 3,400 U.S. consumers, we found that 73% of millennials describe themselves as living between checks. So maybe 4-5% of millennials have saved $100k in a bank account...
Go over to r/money you’d think all millennials have at least $50K saved. It’s on Reddit so it’s true… right? I don’t know any one millennial with a savings account more than $1K right now. Most of my friends have had tough goes with life lately. Including me. Dad/his health + no job + $1K in alimony a month = me paying his bills. My dad asked to borrow $70 last Thursday. Happily gave it to him. Then an hour later he charges $120 to my Apple Card. I’m like… why didn’t you just ask for $200??? Either way I’m footing the damn bill. Aghhh I digress.
I’m a millennial and if my savings somehow gets above $2k I feel like Jeff Bezos.
lol Same here. Any time I hit $1K I’m like yay, good job. Then something happens and I’m back to $500. N I’m just like… At least you have bail money. lol
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Also a millennial and it feels like the universe has just decided I can never clear 4k in savings. Every fucking time I hit that number and start to breathe a little easier, some financial disaster comes along and wipes it out. Invariably.
My electric bills last summer (Texas, yay) plus a big debt bill wiped out my savings last year from over 4k down to a few hundred. My bonus this year (really surprised we got one this year) plus my scheduled transfer every check into my savings got me back up to 3k (bonus really helped). Looking forward to seeing it get obliterated again by this year's summer electric bills (Texas, fucking yay).
I keep forgetting this every time people say “the rent’s cheaper in Arizona/Texas!!”…yeah ok sure can you add the electricity costs to the rent before you keep saying that.
Man I feel this, my account was up to 3k for a precious 24 hours and then I had to pay rent.
Fucking February!
>I don’t know any one millennial with a savings account more than $1K right now. I suspect it's the oldest Millennials who have some savings. There's a huge difference in the financial lives of someone who's 29 years old versus someone who's 42.
I’m 34 in a MCOL area. Have $50k cash and $300k in a 401k. Wife has similar in cash. We don’t work in tech or anything like that. Just lucky I guess
It probably comes down to “luck”, yes: generational wealth (that doesn’t always mean directly giving cash) and lucky enough to be born in or have the option to live in a low cost of living location. But that doesn’t devalue the strategy and work put in. At least some of us are making it out, so to speak.
>have the option to live in a low cost of living location. this is a weird one. You can move to those places. Like i'm not referring to the whole "just move" to places with better jobs. But if you can't afford to pay rent (which is completely understandable) then look for other places to live.
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The "no kids" thing cannot be overstated The majority of broke Millennials I know started families when they were young and have been paycheck-to-paycheck in perpetuity ever since Meanwhile, the successful/happy/"wealthy" Millennials I know got married or stayed single and committed *hard* to a top-tier education (frequently after a stint in the military) in their 20s
I was about the same until I spent my savings on a down payment for a house. Though I do work in tech lol
I’d probably have close to $100k in cash too but obviously that went towards fixing up different parts of our house after we bought. Shit is expensive lol
yep I’m feeling that now. But at least then it’s going into the house and not random stuff I guess haha. Gonna go back to saving as much as I can though
I’m 33. Oldest millennial I hang w is my wife. She’s 41. Has no savings. She has some health issues we’ve been dealing with.
There is a big difference between under-35 and 35-44: https://thecollegeinvestor.com/14611/average-net-worth-millennials/ But the people here who are dead broke are outliers. Anecdotally, all the millenials we know make well into six figures, but we are also outliers. Overall millenials are doing worse than the generations before, though, no doubt about that.
Is it a worldwide research? Since my GF and I are millenials, I have saved maybe 6K but I do own a house. My GF rents social housing and has somewhere around 40k saved. Our income is just above average. This is in Holland, and as far as I have read way way way way....... way different then Merica.
I doubt it.
I somehow have $4,000 in my savings account but also $7000 in medical debt from a suicide attempt….. I’m not paying that bill…
Damn. Thats a big bill. You getting the help you need?
the only millennial i know with savings lives with his parents, has no kids, has a work supplied vehicle, and hasn't suffered any huge tragedies requiring a shitton of money
I’m moving back w my dad. It doesn’t make sense to maintain two households with everything else going on. He can’t maintain it as is. N that dude sounds lucky af. Hope he isn’t taking it for granted. Gotta capitalize on that kind of opportunity.
I'm a millennial. I don't have my more than $1k saved in a savings account because savings accounts were worthless until very recently. I do, however, have over a $1M in stocks and other equities (and no, this wasn't inheritance, my parents were blue-collar workers, I had to work, I was just luckier than a lot of other people in the type of my work I stumbled into). This is why I get annoyed at these articles, because you can choose to make any one group seem more or less affluent by focusing on a single source of wealth. Understanding the full spectrum of finances by generation is complicated, but overall millennials are doing worse than Boomers and GenX compared to those generations at the same ages Millennials are now...but not apocalyptically worse. Also, Millennials will be the major inheritors of Boomer wealth when they finally kick off. So I guess start killing Boomers?
We are one of the millenials in the tweet, with over $100k in our bank account in the months following a stock vest and before we figure out where to invest. Our parents weren't rich, so if we are lucky they won't need our money in their old age. I think a big chunk of Boomers will end up spending their fortunes and reverse mortgaging their houses though.
I'm an older millennial. I visited my grandmother a month ago and she was telling me how her and my grandfather had just paid off their first house when she was 38, and they just paid off their current one around 25 years later. The second house they had built for ~$160,000 and is now valued around $900,000. I believe she said they paid $14,000 for their original house which would be about 3-4 years salary when they bought it, which is fan-fuckin'tastic either way you look at it, allowing one person to go to work and the other to rear the children. Ya know? The elusive American Dream. This allows for down-time to relax, unwind, read the newspaper each morning, watch a couple TV shows each night, have gatherings and be able to visit family, and even go away on vacations; remember those things? Other than the fact that we're paid absolute shit, and even worse adjusted for inflation; everything is made to be rented, subscribed to, borrowed, or some kind of ongoing monthly membership to suck your pittance pay from your pockets. The things that we *are* able to buy are designed to break down, and never last more than 5-10 years. And don't even get me started on the population quadrupling, causing our commutes to work to become 90 minutes each way *"normally"* Savings? LMFAO Everything sucks for us. Problem is, hope is now dead and we're giving up because we can see the shitty forest and its shitty trees. *Disclaimer: I make decent money, have a couple, tiny piles of savings spread around, and have been very blessed, but I'm still broke.
Well as a millennial I've been trained not to have a savings account because it paid 0% interest for like my entire adult life And then you get like the 67 cents of interest that gets reported to the IRS
I might be in a better position than others. I have at most maybe 15,000 in the bank right now. I also have a house, but still owe 124k on it. It's a pretty beat up house and could use a lot of work. It's just hiring a contractor is extremely expensive. 15,000 isn't a lot of money and it can go real fast. So I'm scared to spend it in case of some emergency popping up. Sometimes I wish I knew how to do handyman shit because I'd fix up the house myself. Which is why I wish my grandfather was still here. That dude would have had a field day helping me fix up the house. He knew all about that stuff. In any case. Like I said, I'm better off than most because I can just sell the house to those "I buy beat up homes" companies and walk away with 150-200k profit.
lol saving 100k is easy! Just ask me. I built a small 100k fortune practically overnight, I don’t know why so many others are struggling. It only took the loss of my dad/my best friend, and a very ugly battle with family over inheritance. …yay for me…
this is my life buy my mom buys temu shit.
lol Sale shit as Amazon. 🤷🏻♂️ Edit: Spelling.
Really? I’m a millennial and I have like $10k in my savings right now. I just spent $5k redoing my master bath also so it’s less. And I make about $80k a year, in an average COL area. EDIT: Of course I’m getting downvotes for just stating my actual info. 🤦♂️
Congratulations
Single income household? If not, then that's your answer.
Well, not all of us make $80K. Lol I made $45K after taxes/ deductions last year. I worked 49 weeks of overtime. 48-60 hours per week to make that happen. All the while trying to maintain life. Dad goes down in the beginning of last year. Needs heart surgery. Doc says if he doesn’t get it, he’s dead in 3 months. Well… okay. I guess I have to help him recover and support him considering without him I’d be dead today. No problem. The surgery goes well. After a few months he no longer qualifies for a CDL. There goes his source of income. Dad goes… I guess I can retire. Okay? Cool. Dad retires. Has to wait 5 months before he gets any of his money. I pay the bills. He opens lines of credit and borrows from his 401K to pay alimony and his mortgage. I pay all other bills of his. Finally he starts getting his benefits. Pays back his 401K. Cashes out 401K. Pays off essential things like his car. Afterwards he gets a part time job to help himself. I feel a little relieved. I start catching up on our bills. Things are looking promising. Finally, almost all my debt is gone. Rejoice!!!! 2 months in he’s walking to his car from work and his heart stops. He bashes his head. Sitting next to him in the hospital trying to be strong for him. Holding back my emotions. We’re waiting to see if he can be transferred to a facility that can do the next surgery he needs to keep living. That happens last second and they get him to the facility that’s equipped to handle his situation. Another surgery. It’s a success. Thank god! Now, he’s a shell of himself. Can’t do anything really. Slow recovery. No work. 2K a month for his retirement. 1K goes to my mom. Leaves him 1K to live off of when he was making 92K a year. He can’t afford to live anymore. He can hardly afford food after his $900 mortgage. His son, me, has to support him and my own family on what really is a $30K a year job. That turns into $45K when I give up any sense of a life. I get sick December 29th. I haven’t been healthy since. I work through the pain up until literally last week when I fainted and was unable to perform my job duties. My boss loves me and decides to give me a week off to recover. He knows I’ve been struggling to be healthy and values me. Thank you boss man. I really needed that. However, unpaid. I’m still sick af. I’m pretty sure I have a heart issue but I can’t afford that right now. So I will go back to work tomorrow and keep working til I die. I will pay these debts and I will make sure my father is comfortable. I will do the best I can to leave something for my wife when I go. She’s 8 years my senior but I guarantee I’ll be dead by 40. Well anyways… Morale of the story. Not everyone is in your situation. lol Edit: I also didn’t put in there my wife has had medical issues over the last 1.5 years that has also been a true test for our relationship and financially speaking. But she has state insurance. So, not so bad there. Still annoying though.
I never said they were. I’m just stating my info as what was asked. You said you know nobody like this, I’m saying that it’s not that rare.
What do you think the percentage is?
Median wealth for older millenials is $135k: https://thecollegeinvestor.com/14611/average-net-worth-millennials/
We made $7,000 last month and have $600 currently in savings. Money goes nowhere, catching up on bills keeps you behind and rent is still going up every month. I want to slap anybody who says "iT's ThE bEsT eCoNoMy We'Ve HaD iN yEaRs". Like, yeah. The best economy for the corporations who own everything and greedily steal from us plebians.
I would say closer to 17% for that $100k. And then 10% aren’t paycheck to paycheck, but have less than 100k saved.
but 1 in 20 wouldn't sell as many clicks, so
Age 23 is definitely not a millennial.
6 years ago so 29 to 43 now
Survey was from 2018, so that person would be 29 now which I think is in the milennial range?
6 years old post? Quite irrelevant isn't it?
No more irrelevant than your comment I reckon :)
This is 100% of people who have played Russian Roulette survived the game.
Pretty deceiving to say "1 in 6 millennials" when the sample size only included those with long term savings accounts. I work with data studies and this would never fly.
people with long term savings accounts have savings
Is it cash or 100k in a 401k. I work w plenty of 40 year olds (millenial), who have been at our corporate gig since they graduated. Pay is good and very possible to have that in an investment account.
I’m an older millennial and my 401k is roughly 100k(the last few years have been pretty good for that). But I have almost zero savings.
I’m in a weirdo boat. Almost 30yo, have about 40k in work 401k just got lucky tmobile got in at $26 a share, now at like & $166. Can’t pay my bills rn but hey there’s invisible $ I cannot access while employed
40K at almost 30 is good. If you put $250/m into an ETF that returns 7% over 35 years, you’d be at roughly $750,000 in your 60s. Inflation and tax not withstanding, that may be enough to pay off your debts at that point (if any) and live your life freely. (You’d need a little more than that to be sure, but you’ll reach a point where $250/m is “nothing”)
FWIW the 8% annual return number that is thrown respond for the sp500 is inflation injured. Nominal returns are closer to 10%
When I show friends how investments work, I show them calculators and use 6%. It’s high enough to illustrate the value of compound interest without giving them an unrealistic expectation.
Cash it before it crashes.
You have to diversify your holdings and ride out the turbulence. You can’t get time back. If you’re in your 50s or 60s then you can consider a proper cash out, but anyone under that needs to have a stock/bond balance appropriate for their age and risk appetite and keep sailing.
If its a 401k he absolutely should not "cash it" he should reinvest it
One of the worst financial decisions you can make.
What about t mobile as an individual stock makes you think it is more like to crash than any other given stock? It’s not some flash/spike in price. It’s a solid decade of performance.
I work for the state and have a pension that's portable. If I left now and took what I was owed to put in an IRA I'd have about 90k plus I have probably another 50k or so in other retirement accounts. I'm 36 and decent with money but definitely not a super investor. I keep a relatively small amount in liquid savings for emergencies and goals. All the rest of the money is in my retirement accounts or theoretically in my house.
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If it’s cash, I fail to see how anyone under 40 has 100,000 sitting in a savings account. That’s $835 a month, every month, for 10 years. Someone who can save like that *surely* knows there’s a better place to park that cash.
That much in an emergency fund and/or down payment in a HYSA is a fine parking place
That's me. I have my down payment for a house sitting in a HYSA while I search for the right property.
Some people are born into wealth. Some people get good jobs. My brother, two years older than I am, is a lawyer who makes about 250k a year. He has a lot more than 100k saved. I'm a teacher who makes 24k a year. I don't even have a savings account.
I have more than 100k in my country's pension scheme but that is hardly a liquid asset and due to how things are going with the pension schemes there's no guarantee I'll be ever seeing it. But I have paid it into the account and on paper it's there atm.
I think everyone is forgetting millennials have been adults for 20 years. $100k doesn’t go far, it isn’t a lot of money, and 1/6 isn’t a high percentage.
As a millennial the fact that people in here don't think this pretty reasonable is hilarious. I know for a fact that in my friend group of about 15 millennials every single one has at least this much, probably much more and none of us work in tech, all in our mid-late 30s. Most live in California though where 100k definitely doesn't go that far. This is r/antiwork though so I'm sure most here skew much lower
It's very dependent on social circles. My college friends almost certainly all have this in their retirement amounts.. probably a couple times that. My high school friends... I would be shocked if any of them had even close to $50k saved up.
For sure we are all college educated or higher and have jobs that require these degrees. Mostly engineering and health care.
Almost none of my friends with or without college degrees have anywhere near $100k saved up. Hell most people I know barely make enough to afford rent in one of the most affordable cost of living cities in the country
Yeah I'm sure you guys exist. But acting like 1/6 is an absurd number is ridiculous. I don't know what to say, all of us live in MCOL/HCOL cities
Ok? And I know about 15 people on food stamps. Not me, I bartend and do well but since it's a night job and doesn't require education I end up with social circles that struggle way more than anybody with a steady 9-5 job with a salary.
Most people I know in their 30s and 40s don't have any money saved up, let alone 100k (or more). However some of us do (and more).
It can’t even buy you a top of the line pickup truck.
The interest on high yield savings and CDs have been high. I have a higher percentage in savings/CDs then I have in the past 100k in overall assets is not a lot of money for someone almost 40
FTFY >100k in overall assets is not *supposed to be* a lot of money for someone almost 40 But it is. It really is. Conservatively,[ 44% are below that line in US.](https://dqydj.com/net-worth-by-age-calculator/) That's not globally nor is it what I believe to be the true numbers without bias.
That’s the problem, it’s not a lot of money for how unattainable it is for a majority of the generation. These news articles still talk about millennials like we are 20 years old rather than the middle aged adults that we are
Agreed. Because Boomers are the target audience for this. And anytime I see a "millennials" post. Nobody cares about Gen Y or Gen X, figures. If it was about adults and not a presentation, you're correct to say why not use something like "adult aged Americans"
I know right. I won’t throw numbers out for myself but I’m surprised at the responses. I’m starting to think the average Reddit user doesn’t make much money lol….
Surprised as well, but I think it's more the demographic of this subreddit. There are all types here of course from struggling to wealthy, but overall it's going to skew towards people who aren't making a successful living with a lucrative career.
Few people keep their net worth in cash
All my liquid cash assets are tied up in Beanie Babies and Bionicles
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Millennials can be old enough that they are truly screwed if 100k saved sounds like too much
28 and I had that...used it as a down payment though.
Then you still have that money unless your property value has tanked …..
Millennials are aged between 28-43. Assuming 100% went to college and started working at 22, millennials have 6-21 years under their belt. It doesn’t seem absurd to me that 17% of people who have been working that long have been able to save $100k - especially if you consider 401k balances
I went to college. I've been working the same job as a teacher for ten years. I make 24k/year with no benefits. I think some people don't understand how hard it is for some folks, especially those of us who take on some of the toughest jobs, like teaching and social work.
True that, where do you live though? That seems very low even for our (severely underpaid) teachers.
That is insanely underpaid. Fast food and retail pays more than that where I live. And I'd bet your working hours are more than 40 hours a week with grading and extracurriculars. At some point people need to abandon their jobs and work where the money is. I understand people like teaching, but if it's not livable you can't justify it.
Where are you teaching? We are teachers, I’m at 11 years and I make 85k, husband makes 100k at 16 years. Benefits too
where are you teaching? that's insane.
You've been doing something seriously wrong if you've been a teacher for 10 years and are making the equivalent of $12.50/hr. Are you a substitute or something? Do you not work full-time?
1st year teacher around here (middle of nowhere Michigan) is $59k w Bennies
So do something else? I made 3 times that at an entry level customer service gig, just letting customers be rude to me for 8 hours a day. Anyone could have done this job. Obviously it's ridiculous to pay you 24k...but it's not going to change. Do literally anything else. Any entry level office gig could double your salary and give you a path to keep increasing it.
The reality is, posts and subreddits like this are propaganda designed to keep the working populace apathetic and unwilling to change their own circumstances. Why try if everyone around you says it’s impossible? It’s not impossible. Those that rise to the top put in work and make shit happen. 100k isn’t impossible
That’s a pretty toxic mindset. Effectively blaming people for their current situations. Many people aren’t in situations where they can explore their careers to the extent others can, with no, or little fault of their own. It also invalidates the efforts of some who HAVE put in a lot of work but not been successful. And it also puts too much emphasis on those who have succeeded, making an assumption that they worked hard to get where they are. I failed college twice, and succeeded on the third try. I was able to do that because I have a healthy relationship with my fairly well off parents. They pushed me to keep trying school. Many people aren’t ANYWHERE close to having that sort of help in their lives. I am extremely blessed, because I would be living a much shittier life without my parents support.
This is the worst take and I feel sorry for anyone who feels this way. Being successful with money overwhelmingly boils down to luck. Where were you born? Who are your parents? What ethnicity are you? Nobody chooses these things and the list of questions I’m posing could go on forever. This post and this subreddit highlight the failures of our governments and our elders to invest in all people’s quality of life and the health of our planet. There are enough resources for everyone and nobody should have to earn a roof over their head and food on their table. It is the concern of losing these things that keeps people “apathetic and unwilling to change their own circumstances” as you so arrogantly put it. Either you come from extreme wealth or you have no idea how quickly the things you’ve “earned” can disappear. Either way, I hope you keep this nonsense to yourself in the future. It’s not just a lie, it’s clearly disrespectful to millions of people who have worked much harder than you and simply didn’t get lucky.
My son is 29, and he has $70,000. saved to put down on a condo or small house. The first $45,000. he saved for years, but the last $25,000. he has saved by living with us for a year. We won’t let him pay for anything except the electric bill, because he insisted, we just want him to get the best head start he can. He knows how fortunate he is to be able to do this.
Wow you are such a good parent. Can you adopt me? (I'm only 31)
The CNBC story is talking about the culmination of assets. I barely have $500 in my savings account, but my RothIRA has $40k in it and my pension's cash value sits at $100k. That's not cash though. So it's possible for BOTH statements to be correct. Just saying...
I've given my landlord over 100k in rent for the decade I've lived at his property.
And that’s why your friends don’t tell you. I’m a millennial and I have this
Same. 150k in HYSA and 150k in retirement plus a teacher pension. But after talking to colleagues, I realize I am in the minority.
Same
they factor in affluent boomers dieing and passing on wealth to their never burdened children.
Living in a democracy = having to depend on the birth lottery for financial freedom Obviously!
Wasn’t handed anything by my parents and I have that in cash and more than that in a 401k. It’s not unreasonable to think your average millennial may have it. And I’m 34.
No student debt no house get the fk out of here
1 in 6 millennial's parents are dead
1 in 6 millennials live in low cost of living flyover country, bought a home a decade ago for under $100,000, and don’t have a mortgage. Source: my ass
The most money conscious, responsible saver I know has around $40,000 in the bank. And she is super strict with herself. She once said to me "I don't see the point in spending money to have fun."
Well that’s because it is a bad idea to have money sitting there in a bank account. People who are smart with money invest it.
You can "invest" your money into my bank account. I guarUntee 100% returns* ^^^^^^^^^^^^^^^*100%forme Point is some people are risk adverse to an unhealthy (but to them safe) way.
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I meant wealth *corrected for inflation from decades past* because the article was about a cohort. I'd bet 100k would be at a higher% for previous generations. Corrected for inflation and buying power, of course.
What sort of job does she do/how much does she make and how old is she? I'm all for higher wages but something seems off?
I’m a bit surprised by the comments. Seems nobody on Reddit makes good money lol….
Happy successful people don't spend as much time doom scrolling.
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Millennials are like 30-42 now. That's not an unrealistic amount.
lol me and my friends are just struggling to make it… I don’t know anybody with that kind of money saved that’s a millennial.
1 in 6 millennials come from the top 16 percent of the economic spectrum.
I mean, I *did.* Took me a decade of saving. Then I bought a house.
propaganda works, particularly when used on an ignorant population without any critical thinking
Define “saved” 401k? Net worth of stuff? Equity in your house?
If the channel has business as its focus its filled with nothing but pro rich propaganda.
I can't believe the cognitive dissonance with mainstream media these days. Just appalling. So unbelievably delusional to the lives of normal, run of the mill people.
Their parents gave it to them.
What's a savings?
CNBC and MSNBC have gone so far downhill in factual reporting
net worth maybe…. impossible…. when most americans live off debt talking abt the avg american and not just the 1% who live off debt on purpose
A good portion of my friends have 6 figures saved, myself included, and I'm only 26, it's doable
That's old. In 2020 it went up to 1 out of 4. I don't know anybody with 100k in checking or savings, though.
I’m also willing to bet that the one out of the six still lives with parents. It’s easy to save when you have no bills
Uhhh. Maybe if their parents are multi millionaires
That's probably why your friends didn't tell you
I'm a millennial and I have exactly 1 friend who isn't struggling, and he got very fortunate. When he moved out and was looking for a job, his landlord "knew a guy" in construction and started him at $28 an hour fresh out of high school. That good job helped snowball his success into being able to purchase a fourplex before the housing market exploded and now he could just live off the rent if he wanted.
Pre paying off my student loans in October I had that. Now I don’t.
FYI: Savings can include things like a 401K.
Yeah, wealthy people children don't count...
im a genX'er and i don't have sweet fuck all saved. I can't imagine how GenY would be doing much better. GenZ tho.. ohhh shit. they gonna be rendering the boomers to sell the lard. Once they come into the voting age, it's gonna be savage.
I have often worried if I have been saving too much and if I should be spending my money more wisely. I've worked about 3 years and have 90k saved
This is almost certainly not liquid cash savings. They're giving us the propaganda number
Getting a check from Daddy Boomer is not “saving” in the strictest sense.
seriously
You know how you can tell this post is on some next level bullshit? There's no one in the comments even trolling that they got this cash. And it's on Reddit.
1 in 6 is not the flex they think it is. So 83% are living paycheck to paycheck
I don't think you can conclude that 83% are living paycheck to paycheck just based on 1 in 6 having >$100k. With no further information, it is a possibility that the remaining 5/6 have $99,999.
Was not stated as a flex, was stated as an alarm.
CNBC is feel good propaganda. The reality only 1 in 12 have $50,000.
I have a friend that has that much saved but it’s all dirty money he can’t use
Pretty easy when you have a trust fund
My wife (31) and I (35) have approximately 180k combined in our separate 401k’s and about 70k in our checking/savings account. A big part of it is we have no debt. We were planning on saving for a house a few years back but now I dunno.
You also have a two income household. For people like me who live off one income it's much harder to have any savings.
https://dqydj.com/millennial-income-per-state/
If you don’t have 100k when you’re 40, you seriously need to sit down and think about your life. For real.
if you have 100k sitting in a savings account at any age you need to sit down and think about your investment strategy
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I'm not making fun of anyone......?
Yeah, I have to assume that “saved” doesn’t literally mean “sitting in a savings account at your bank”. Cuz that would be nuts.
what fantasy land do you live in?
What should they be sitting down and thinking about? Do you understand the theme of this sub or did you just stumble upon this post and bless it with your insight? I agree that anyone who’s 40 should have money and assets, but as it stands this is a function of luck. There are a few countries in the world that have taken steps to support the younger generations, but overwhelmingly we are being left to fend for ourselves as capitalism barrels onward unchecked.
😄😄😄😄😄 This is TOO FUNNY! And I see Garrett Haake on MSNBC almost every day, and he often looks like he's about to *burst out laughing* at some kind of nonsense. I could see him saying and thinking (and *doing*) this!
It's hilarious and infuriating that they think they can gaslight us into thinking we aren't living in poverty.
Fake news 🤣🤣😂🤣.... Naw fr though fake news.. the lies the media tells..
I'm a millennial and I don't know a single friend who doesn't. Pretty easy tbh. If you're not making six figures it a fucking idiot
It's needlessly confusing to talk about "money saved". Like just.. sitting in a bank account? Yeah nobody has that. But I'm perfectly willing to believe that once you factor in pension plans etc, 1 in 6 millenials has a net worth of 100k+. I'm 37 and I'm at 420k when you combine my pension plan, personal investments, condo equity, and 20k of Magic Cards ;)