Skip to comments.Yikes: More Than Half of Millennials Have Less Than $1000 in Savings
Posted on 12/13/2015 8:30:27 AM PST by Kaslin
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Very interesting observation about the “Silents.” I have not heard that before. Will take some pondering.
Then there's the flip-side, parents living with the children to help them to raise their grandkids, so the parents can work without having to worry about paying for daycare or babysitters. Nothing wrong with multiple generations living in one house, in many cases, it makes perfect sense. Keeps more wealth within the "Clan."
That’s pretty much spot-on. I can testify.
I would guess the Obie’s living with parents have the most saved.
Personally for this tail end boomer, I had $1000 by the time I was 10 years old and had about $5000 saved for college by the time I was 18.
I worked summers during college and lived at home. College cost me $8000 for four years and I worked summers, so at 23 I had $0 savings with no debt ($0 net worth put me ahead of most at that point).
I got a job and within 3 months had at least $1000 in savings.
I was lucky enough to have parents that knew what money was worth and what it costs, and taught me.
Change you can believe in...
If you like what you do then you never work another day in your life. I am in the same boat. One of my favorite past times is teeing off on the young ones for voting for the destruction of the middle class. I don’t sugarcoat either.
Interesting tactic, almost Demcrat inclusivity at play on a conservative forum. Do all millenials march lockstep? All whites? All the posters on this board? just sayin'
The millennials are an interesting group. They have very little interest in establishing themselves. It used to be important to get an education, get a job, get married, buy a house, have a few kids. Millennials waht to get a job and make enough money to have some life experiences. Rinse and repeat.
On a singular level I suppose this is kind of a novel way to live,however, it is tough to build a sustainable society when you have no interest in building.
Most of my money is invested in this great scheme called “a pyramid”. It’s held by the government and they fork over some of my money when they are able to coerce new people to join. If the millennials don’t join then I may not get my money. What will then become of me. We are all gonna die.
Millenials just need to use a printing press just like the government.
I know several people my age in this predicament.
Similar with me. I didn’t start saving until my mid-late 20s.
I was paying off college loans, etc., so it was paycheck to paycheck. But I never defaulted nor missed a payment on any of them.
I had my first house paid off by age 34. It was a modest rancher.
Ah, one who can see. Yes, I know many who are holding confidence in the Ponzi scheme. I doubt most will be able to get it out. It will force many to bow to the distributors of their own money.
And a lot of us are dependent upon this game, in one form or another, which is pretty dang scary. I have only been able to put back some basic supplies in some small preparation.
I didn’t. It was a recession in 74 when I had my first job at 17. I was paid $110 dollars a week and worked very hard. I had to pay for commutation and clothes although I had a bedroom in my parents’ house. The only entertainment was a trip to the movies. These kids are all unemployed with huge school debts. And it’s STILL a lousy economy!
This is why we need to support passing "a living wage" law < /sarcasm>.
Most adults don’t own their home’s
Mortgages are evil.
Most adults don’t own their home.
Mortgages are evil.
I own all my houses.
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