Author Topic: 16% of Millennials Saved $100,000  (Read 1226 times)

Bicycle_B

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ender

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Re: 16% of Millennials Saved $100,000
« Reply #1 on: January 23, 2018, 11:44:17 AM »
I'm relatively surprised tbh.

acroy

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Re: 16% of Millennials Saved $100,000
« Reply #2 on: January 23, 2018, 11:45:08 AM »
For all the stereotypes Millenials are not all that different. they may delay 'adulting' a few more years but the ones with drive are doing fine and the rest will learn.

Not that long ago the everyone was worried sick about the GenX. And we're busy kickin ass.
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ScreamingHeadGuy

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Re: 16% of Millennials Saved $100,000
« Reply #3 on: January 25, 2018, 11:34:32 AM »
I guess 16% of a generation "getting it" is an improvement.  (Still a low number, but probably higher than X and boomers percentages at a similar time in their lives.)
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Off the Wheel

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Re: 16% of Millennials Saved $100,000
« Reply #4 on: January 25, 2018, 11:55:29 AM »
I'm relatively surprised tbh.

Me too. Not because millennials are lazy no good yadda yaddas, but because millennials are still quite young, and dealing with high student loans, high real estate and rent in many places, and low earnings. I fit into that boat, but definitely feel rarer than 1 in 6 in my peers. Though maybe that's because money is still not too talked about... or because I'm a unique snowflake.

MrsWolfeRN

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Re: 16% of Millennials Saved $100,000
« Reply #5 on: January 25, 2018, 12:29:17 PM »
These kinds of articles tend to cherry-pick ages of who is a "millennial", since there is no consensus as to which birth years count.
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trollwithamustache

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Re: 16% of Millennials Saved $100,000
« Reply #6 on: January 25, 2018, 12:43:50 PM »
This sort of makes sense... This is why the financial services industry complains when millennials dare not use financial advisors like their parents!  All that money not being paid in fees, the horror!

Seriously, as a generation they were given terrible advice on student loans and then whammered with a recession. its not surprising the response is more savings.  It may not be in the stock market and it may have more crypto than grandpa's 100k of savings... but I'm not overly outraged by that.

bacchi

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Re: 16% of Millennials Saved $100,000
« Reply #7 on: January 25, 2018, 01:26:25 PM »
These kinds of articles tend to cherry-pick ages of who is a "millennial", since there is no consensus as to which birth years count.

Yep. They don't show an age graph but I would hope that most 37 year olds have at least $100k invested.

I doubt many 23 yo millenials have $100k since a lot have just left college. Besides, isn't a 23 yo considered part of Gen Z?

mrteacher

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Re: 16% of Millennials Saved $100,000
« Reply #8 on: January 25, 2018, 01:42:22 PM »
At first I thought this was surprising and good. Now, I'm not so sure.

I know 30 is an arbitrary number, but I wonder what percentage of that 16% is over 30 v. under 30, given the wide range of ages that make one a millennial. 

One of the statistics that makes not feel as good is that 53% have less than $15,000 saved. I may be wrong, but I am assuming that that number does not include the negative net worth of student loans.