Posted on 07/18/2018 7:45:57 AM PDT by C19fan
Millennials may have only a little saved for retirement, but they still want to retire early.
A recent Bankrate.com survey asked millennials, classified as Americans ages 18 to 37, what the perfect time to retire would be. Their answer: 61 years old.
(Excerpt) Read more at cnbc.com ...
They prefer to suck off their parents.
Retire from what? You mean like from careers and stuff? Or retire, retire?
That’s a pretty short life by today’s standards.
The Government will take care of them for the next 20-30 years...
Actually, I don’t think it’s fair to pick on Millenials in this instance. I’ll bet there a lot - a lot - of people older than this age bracket who are worse off, due to their proximity to retirement age, than these Millenials.
I’m a millennial. Got a lot saved in my IRA. Too bad for other millennials though.
No reason anyone living in this country can’t be a millionaire by the time they’re 60 if they practice frugal living and have a work ethic.
“What’s in your wallet?” - millennial socialists.
By time they reach that age. mom and dad will be 6 feet under and likely have more than spent the inheritance.
I made it. But just barely.
They generally don’t have wallets. Smart phone aps are their method of payment.
Strange, as a 36 y/o I grew up as a "gen X or Y" but now get grouped in with Millennials for some reason. I think people born in 1984ish and earlier should not be grouped with Millennials. Cell phones weren't even really a thing growing up in the late 80s and 90s (only the very wealthy let their kids have the Zach Morris phone), internet was still in its infancy, and there was no such thing as facebook or dating apps (and those using online dating were widely mocked back then as nerds) to say nothing of instagram/tinder/safespaces/etc.
I agree, but they’re already sucking like piglets attached to a sow. If you don’t believe me, talk to your friends.
I agree, but they’re already sucking like piglets attached to a sow. If you don’t believe me, talk to your friends.
Easily 30% of millennial kids are not even fully employed, and perhaps 75% or more are not.
They think their parents are leaving them a fortune.
We talked a bit about retirement and he asked when I thought I wanted to retire. I told him and he said "everyone under 50 says 60 or 62. But When they are 60 they never retire, even if they are loaded. They may quit their job, but they get another one part time or something of that sort. Most people come to feel that it's too long to do nothing and to milk your nest egg if you stop earning that young." He wasn't advising me to work 'til I'm 70 or anything, he was just saying that younger people all ask him to plan for their retirement at 60 and when 60 rolls around none of them actually retire. I thought that was interesting.
Keeping it real, how are they going to save money? Add to that, pensions and other retirement plans are almst non-existent.
Let’s not forget, very few Baby-Boomers or GenX, or GenY have anything themselves.
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