Posted on 06/09/2017 12:07:40 PM PDT by CorporateStepsister
According to a poll from our partner, MSN, 67% of American millennials (aged 18 to 29) want to quit the working world at or before age 65. The current full retirement age, meaning the age at which Social Security benefits fully kick in, is 67 for those born in 1960 or later.
MSN polls its readers, and then uses machine learning to model how a representative sample of the US would have responded, using big data, such as the Census. It's nearly as accurate as a traditional, scientific survey.
(Excerpt) Read more at msn.com ...
Of course, they do. It is because mommy and daddy have tons of money in retirement and assets that these cupcakes hope to get their grimey hands on it before it is gone.
Congratulations! My wife and I retired in our mid-fifties, debt free. We also started working in our early teens and were self-supporting out of high school.
You might laugh at whose advice I listened to. In the movie "Saturday Night Fever", John Travolta's boss in the paint store. When Travolta said "F*** the future!", the boss said "No, the future F***'s you (if you don't plan for it)". My wife and I planned to retire early, started to work the plan in our twenties.
It’s awesome, isn’t it? I’m one year in and I just can’t believe how WONDERFUL it is to not have to ‘go to work’ every day and instead be able to, ‘work’ at what I love! :)
Don’t forget the 10% income tax surcharge that went into effect around that same time to “help pay for the war.”
Got any recommendations for us younger folk?
(For the record, I have no debt beyond whatever’s currently on my low-limit credit card [notice the singular there], and I have a job that pays well and is at least consistently interesting.)
Doubt they will either, but when Millennials become the majority voting population (and they will, eventually), they'll just vote to steal (i.e., tax) money out of your private retirement account(s).
We’re both blessed. I’ve lost mucho pounds this year so she no longer has twice the husband.
Our combined nest egg income is pretty much equal to our active duty pay.
So...nothing to do but watch “Royals” by Lorde (the Millenials’ national anthem) and its hilarious spinoff “Foil” by Weird Al.
We Boomers are so hated......
;^)
Whatever it takes. Sounds like true love to me.
(For the record, I have no debt beyond whatever’s currently on my low-limit credit card [notice the singular there], and I have a job that pays well and is at least consistently interesting.)
I can only tell you how I did it. You are off to a good start I think. No debt is the first key. Second is income with growth potential, In my case starting with straight commission sales and working up to district and regional manager level at salary plus bonuses. An hourly wage or union job, no matter how good it may seem early in your working life, just won't cut it. You need to be able to increase your income through hard work and save your money by being frugal. And by "Saving" I mean investing. Learn how to invest your savings so they will grow. Ten years of disciplined investing, a little each month, will set you up for life. A lot of people who made much more than I did are still working to pay for fashionable new clothes, cars, toys, vacations and houses too big for their needs. I spent only what I had to, asking myself before each purchase "Will spending this money get me closer to my goal?" A few shares of blue chip stock each payday will get you there. A night spend pub crawling will not, nor will a new car or motorcycle or expensive haircut.
A lot of people now ask how I did it but they don't like the answer. I put off instant gratification and denied the urge to impress. I spent more time working and less time partying.
But the key is to define what you really want out of life. I wanted to live aboard and cruise in my sailboat. Permanently. Not drive around Honolulu in an expensive sports car and live in a condo in Waikiki, going out clubbing five nights a week. (Why I was broke at forty)
These idiot kids basically think that they should have it all waiting for them like pampered heirs and heiresses. Clearly they think there is some fault in society if money and power isn’t just handed to them by virtue of birth or a degree.
All but the 0.05% have been under attack from the FED with 0% interest rates for 10 years now. with real inflation at 2-3% vs. 1% or less official that’s a -2% return... Add Obamacare taking all available money away from investments and the related 29 hour standard week... not hard to understand.
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