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66% of Millenials have nothing saved for retirement; reddit comments

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5oclockshadowmustacheNYC:
https://old.reddit.com/r/news/comments/96yfed/66_of_millennials_have_nothing_saved_for/?st=jksdxbai&sh=d2203876

When I see comments like "it's the iPhones we buy", I want to say, "you're not wrong", but I know I'll just come across as preachy.  I'm fortunate to have a fairly high-paying job, but MMM has quite handily laid out the math for all sorts of incomes lower than me and how feasible it is to live off of those salaries.

BTDretire:
This one's good!

CROSS,
on the one check i don't have to pay rent with, i spend 550$ just on car/insurance, and on my other paycheck i gotta pay my rent and other bills.
and i actually make OK money compared to a lot of other ppl in my age/economic class.

GEEFOR,
Get a cheaper car that you can afford. My insurance on 2 cars for a year was under $850


CROSS,
well, i had bad credit so i was bascially shoehorned into buying a new car which i really didn't want. is there a way out of that? i really need to find a subreddit that could help me with that.

frugalfoothills:
FWIW, the article also mentiones that over 40% of GenX and Boomers have yet to start saving. I'd think that would be more newsworthy considering the age difference there... some Millenials are in their early 20s. It feels like less of a concern if a 22 year old hasn't started saving vs. a 55 year old, no?

It just feels like "Millenial" gets tossed out as often as possible as clickbait, when in reality we aren't that much different than generations who have come before us. I read some garbage article the other day about how "Half of Millenial homeowners regret their decision to buy a house," and the reasons were stupid things like: they settled on a home that wasn't perfect for them. Surely that isn't restricted to Millenials? I'd wager there are plenty of folks in that camp, but the Millenial angle always gets people to click.

Of course, I am a Millenial, so maybe I'm just overly sensitive ;)

FireHiker:

--- Quote from: frugalfoothills on August 13, 2018, 12:38:43 PM ---Of course, I am a Millenial, so maybe I'm just overly sensitive ;)

--- End quote ---

As a GenXer myself, I am far more concerned about the 40% of GenX and Boomers without savings, like you said.

BTDretire:
I have read a large part of the thread and there is an awful lot of whining about the situation that society has
put them in. Doesn't seem there's anything they can do to help themselves.
 Live under your income and invest the money. Then invest in yourself, so you can make more money.
Also, there are way more than 40 hours in a week.

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