Posted on 05/31/2019 1:59:23 PM PDT by Responsibility2nd
FULL TITLE:American millennials have an average net worth of $8,000 — and it's part of a bigger financial problem the generation is facing
They have an average net worth of less than $8,000, reported Abha Bhattarai for The Washington Post, citing a new Deloitte study. According to the study, the net worth of Americans ages 18 to 35 has decreased by 34% since 1996, making them "dramatically financially worse off" than older generations, Business Insider's Kate Taylor reported.
These findings underscore previous research indicating that millennials are financially behind.
(Excerpt) Read more at businessinsider.com ...
And every one of them has an iphone with an unlimited data plan, a netflix account, eat out all the time and wouldn’t know a savings account if it bit them in the butt.
I think I heard that 45% of millennials who took out student loans had/have no intention of paying it back. This is largely a generation that doesn’t wish to save or prepare for the future. They have socialists whispering in their ears that the state will take care of everything for them when that time comes.
And pay $4.50 for grande lattes with soy foam, extra agave.
LOL! The Washington Post and their H-1B journalists.
Thanks to that lesson I have no need to live "paycheck to paycheck" as the Rats so often say....although I certainly ain't "rich". ;-)
Yep...and they vote for every tax and open borders that make everything more expensive (including housing).
Maybe, but it seems to track with reality in a lot of areas, sad to say.
They better get off the stick and start humping, 5 previous Generations have Enslaved them in Perpetual Debt to pay for their wants today!
Another reason why we need import tariffs to support American industry. We should build as much as we can here.
“And pay $4.50 for grande lattes with soy foam, extra agave.”
Daily!
Both my boys are millennials.Own homes.Earn 6 figures
Most of that $8000 is tied up in tattoos, iPhag phones, piercings, etc.
“..to live below my means.”
Which is a powerful assist to prosperity.
Similar to, “a portion of all you earn is yours to keep”.
To be saved & invested. Just turned 70 and am enjoying the payoff. Still have money left over to invest each month. Yes, I’m smug. But I also give thanks to Him Who blesses.
Stop that now, you’re interrupting the “all millennials are trash” wank-fest.
Some of us have been real fortunate...Our kids never ‘needed’ us to bail them out. Youngest made more money his 1st 2 years on Wall Street than I did all my working life...Bought his ‘big sister’ a new T-Bird..all generous to each other growing up...and still are.....
Maybe they should lay off tattooing themselves so much. That’d save a lot of money.
Part of it is definitely their own fault - as I’m sure plenty here will note.
Part of it is also the ever rising cost of college due to government interference in the market (guaranteed student loans) and colleges adding ever more bureaucrats (diversity director anyone?) and just jacking up prices since they can.
Part of it is also THE worst economy in 3 generations that we truly only started recovering from in the Fall of 2017 after the Obama administration’s idiotic policies made it far longer and far worse than it otherwise would have been.
It’s okay. They don’t see a problem.
This is the current, mush-minded/liberal-education results, , who were taught that, government will take care of their problems. They expect that government will provide, therefore, no need to worry. After all, the rich will be taxed to death so that they can just sit around home and wait for everything to be provided.
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