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Sounds about right . I’m a millennial . Own my own company . Employ three people . Purchased my first house at 26 years old. Dropped out of college, which was a good move in my opinion . I had 0 college debt .
I don't brag since I don't have anything to do with it. I am Gen-X, so I belong to a generation who (for the most part) did not prepare for retirement too well, although there is still some time. We started our careers with pensions, and then saw them disappear soon after. I know many people in their 50s who have very little, or nothing saved.
Yes, 16% having $100 000 in savings at a very young age is good.
I find that hard to believe unless they hit it big with some dotcom company. Possibly the parents bought it for them to get them out of their house. There are always exceptions.
It’s not odd when you consider that people in their early to mid-30s are millennials. A couple with a combined income of 100k can easily afford a 300k house.
Okay, I read the article, and I refuse to believe the group surveyed is indicative of the population at large. I can believe that 17% at the top have 100k in savings, but I refuse to believe that 47% have 15k.
It’s not odd when you consider that people in their early to mid-30s are millennials. A couple with a combined income of 100k can easily afford a 300k house.
Okay, I read the article, and I refuse to believe the group surveyed is indicative of the population at large. I can believe that 17% at the top have 100k in savings, but I refuse to believe that 47% have 15k.
Why? People are enrolled automatically, and the stock market has gone up over 300% in last 8 years.
I love threads like this, because I get to learn all about myself from strangers on the internet.
Quote:
Originally Posted by gladhands
Okay, I read the article, and I refuse to believe the group surveyed is indicative of the population at large. I can believe that 17% at the top have 100k in savings, but I refuse to believe that 47% have 15k.
The article is counting 401k & other retirement investments as well, so they really don't have it in the bank, it is just counting towards their net worth. That makes me believe the numbers.
Of "young millennials" — which GOBankingRates defines as those between 18 and 24 years old — 67 percent have less than $1,000 in their savings accounts and 46 percent have $0.
As for "older millennials" — defined as those between 25 and 34 — the trends are similar: 61 percent have less than $1,000 in their savings accounts and 41 percent have nothing at all.
I love threads like this, because I get to learn all about myself from strangers on the internet.
The article is counting 401k & other retirement investments as well, so they really don't have it in the bank, it is just counting towards their net worth. That makes me believe the numbers.
Oh, they’re counting retirement savings? The article doesn’t explicitly state that. It’s very easy to believe that 47% have that much combined retirement savings and liquid assets.
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