Posted on 03/20/2018 7:35:50 AM PDT by rktman
6 figures is $50/hr. There are no trades in Central Virginia that pay that much.
Uh, are your kids millennials?
In all of human history the parents took care of the kids then the kids took care of the parents. Our "culture" devalued family so we have old folks warehouses.
Yep. And government was more than happy to fill that void.
Agree millennials din’t think they react and it’s always in a bad way.
http://time.com/money/4260063/kidsave-accounts-retirement/
Old idea proposed by a democrat.
“The initial $1,000 by itself wouldn’t make a huge difference: at 6% a year over 65 years it would produce just $44,145” and inflation would make that less valuable.
My 20 yr old niece refuses to work, she says she can’t handle it, has possibly quit school and all she seems to want to do is party and sleep.
sad
My retirement goal was 40-years-old thanks to a couple of high school teachers - one that said that should be my goal and the other that said to get there I could work for myself, not get a traditional job working for someone else. The advice worked even if off by eight years.
“I think we are going to see a New Birth of Freedom in the coming DECADES leading up to Christ’s Great Catching Up of his Saints...”
Sorry, my question referred to above. You really think we have DECADES before that joyous event? I’m hoping for soon myself. Enough of “all this”!
Nope. I'm a Gen-X'er and my oldest was born in 2009. Point is, while I'm saving for retirement and hopefully counting on a small military pension, I don't expect to enjoy a 30 year retirement playing golf at one of their three properties like my "Greatest Generation" grandparents did.
Someone in their 20s and even 30s can have legitimate priorities above saving for retirement: student loans, new car, house down payment,....
Furthermore, given the economic instability 2001 to 2009 with those major market crashes I can see how they would wonder if any savings would be wiped out by bouts of inflation and market crashes over decades.
They also aren't marrying or having children.
Bernie Sanders earned support for the same reason Donald Trump did, by being an anti-establishment "outsider" and don't forget, Trump still won white Millennials.
I know plenty of Sanders-supporting Democrats. It wasn't Bernie's "free stuff for everyone" as much that attracted them. They just didn't like Hillary Clinton. More accurately, they loathed her.
...”We either restore the rule of law or we lose our country.”...
YES!
To Mr/Ms outofsalt: What would 65 years of 8% growth do for the account? Plus think of all the early years where they could watch, learn, and decide how to get 8%+ and deal with inflation. They’ll have the first 18 years to observe under which party their accounts grow fastest. Call it a Birth Roth.
A week or two after we got married (24 years old), after the dust settled, I told my wife we need to start saving for our retirement.
She was most surprised at the concept when we were that young.
Now 40 years later she is VERY happy that we did.
Does this generation honestly believe that Uncle Sam will take care of them when it has to make massive interest payments on the debt?
Ah, you told her about the “Nest Egg”.....
David: Oh, God. I guess this was my fault. That’s what I’m thinking. Maybe I just didn’t explain the nest egg well enough. If you had understood… you know, it’s a very sacred thing the nest egg, and if you’d understood the Nest Egg Principle, as we will now call it in the first of many lectures that you will have to get, because if we are to ever acquire another nest egg, we both have to understand what it means. The egg is a protector, like a god, and we sit under the nest egg… and we are protected by it. Without it? No protection! Want me to go on? It pours rain. Hey, the rain drops on the egg and falls off the side. Without the egg? Wet! It’s over. But you didn’t understand it and that’s why we’re where we are.
Linda: I understood the nest egg.
David: Oh, please. Do me a favor. Don’t use the word. You may not use that word. It’s off limits to you! Only those in this house who understand nest egg may use it! And don’t use any part of it, either. Don’t use “nest.” Don’t use “egg.” You’re out in the forest you can point, “The bird lives in a round stick.” And and and you have “things” over easy with toast!
From “Lost in America”
Save? Try CA where a 60 year old cookie cutter home goes for half a million++ and up, a crappy one bedroom apartment goes for 1,500.00-2,000 just for rent per month...Not including food, gas, utilities, insurance and on and on..
And they can't figure out why so few young people can save? lol..
I'd hate to be a young person just starting in this state. Most are screwed...Savings? lol...
If capitalism survives then their bet will lose and they’ll be in poverty. On the other hand, if capitalism falls and socialism rises then they’ll be in poverty and starving to boot. Either way you cut it, future looks bleak for these fools.
Wow, rarely hear of goals in the 40s! My wife and I, while in our 20s, set our goal for mid-fifties, which we met. Plus I got some good advice from seniors about to retire, while in my 20s. We made sure to pay down any debt while not accumulating any. Mortgages were restructured to pay them off as soon as possible. We're on easy street now, and our adult kids are following in our footsteps.
Thing is, I heard some of the same anti-saving crap while young; friends said why bother saving, why bother having kids to bring into the world, when it's all going to hell anyway. Here it is more than 40 years later and none of the bad stuff happened. As a matter of fact, things are going great since Trump got elected.
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