Posted on 12/13/2015 8:30:27 AM PST by Kaslin
A new survey of Millennials (those between the ages of 18 and 34) by How Much shows that more than half of them have less than $1,000 in savings.
(Excerpt) Read more at townhall.com ...
A rarity indeed.
And this is the group the government is planning to fund Social Security. Better come up with a better plan; and quick!
Only illegal immigrants on lower wages that ship money outta the country can save things! /Jeb Bush
There are many economic factors going on that we know about. It gets confusing. But if you put all those economic factors on the left side of the equal sign in an equation , I think the right side of the equation will be:
= LOWER STANDARD OF LIVING FOR MOST PEOPLE. - TOM
Yep. Even 401(k)’s and stuff will be dependent upon the gov’t because they can control access.
Oh, if one gets ahead of the Ponzi scheme collapsing they can cash out a bit if the age factor works for them.
When it all goes electronic, as it rapidly is, and no one can buy or sell..............
Do millennials ever get old?
It has been the 18-34 age range for 3 years now.....
There's no incentive to save if there's no "power of compounding" with interest on savings.
I hope everyone has nice warm fuzzy feelings when they consider these millennialist will keep the SS scheme going.
Not.
That’s how I grew up.
We had three generations living under the same roof.
Granddaddy and granny had four kids. Two girls were married and moved away. The youngest, a daughter was still in high school and lived at home.
Daddy and momma had me and my brother.
We lived in the same house with everyone else.
The work was done by whoever was able.
Mama, granny and later my great aunt would do the cooking, cleaning, laundry and the lighter garden work.
When we were baling hay, threshing grain or picking corn they would be cooking for up to ten people. On a wood cook stove.
I remember getting my first ticket at 13 yo. Driving without a license. Judge dismissed it because I was in the farm truck taking a load of wheat to the mill. I was Essential Farm Labor the judge said.
Debt was an evil word.
I lived and worked amongst folks who believed that being in debt was a mortal sin.
We believed if it wasn’t broke then there was no need to fix it. If whatever you had was in good repair and still fulfilled the intended function, why buy a newer one?
We did a lot of what people call stoop labor and our days were long and hard.
Even with all that work our health was good and all my folks lived well into their nineties.
We had little money but we ate good, we were happy and never locked a door or feared a neighbor.
Young people today have no idea what they have missed out on.
Just curious. How old are you?
My kids grew up with their grandparents first in the apartment upstairs and then after my father in law passed, we all moved into a house together. They have never known a day in their lives without three generations.
They learned a ton about life in the past through her stories. You should have seen the discussion at the dinner table when they were learning about the depression and WWII. Lets say there was a little disagreement between Noni and the Teacher when it came to the horrors of dropping the bomb.
Its stuff like that, that I think kids have missed out on. My kids take better care of their grandmother than most kids take care of their parent. Watching them deal with her aging gives me comfort that they will take care of me.
I am sick of reading that everyone under 30 is a loser here on FR. I had zero savings at that age as well.
The GG and the Boomers were so larger than life, it is easy to skip over them.
My Mom and Dad were Silent Generation folks. In hindsight, I could see how they always emulated the behavior of the Greatest Generation...but they were kind of in awe of their bigger brothers and sisters.
My mom never talked about her contemporaries in college—she always talked about the guys there on the GI Bill after coming home from the War. My Dad’s friends in the legion were all WWII Vets...not Korean War vets as he was.
I think it is natural.
If you follow the “Generations” model of Strauss and Howe, the Millennials are the repeat of the Greatest. Based on the way the economy is headed and the drum beats of War that have been banging for 14 years, I can start to see the similarities.
History does not always repeat, but it often rhymes.
Where I was when I was young, so was being on welfare.
I agree, Yaelle. That’s a lot of young people to demonize. I worked with them about 3 years ago in retail when I was having money troubles. Most of them were very hard-working.
New flash, Christine...it’s been that way for several years now. Better late than never I guess.
Till I’m dead.
I build RC Airplanes,
whats cooler?
I don’t understand this grip about generations of families living together that you sometimes get on FR. My husband’s family lived 3 generations in The Bronx together and the kids all ended up well-educated and employed. His grandparents (from Sicily) were fascinating. Even I learned things in the 90s from them. I sometimes think the nuclear family (in which I grew up) is not all it is cracked up to be.
my 2 millenials are both in grad school. One is married, both are on their way to an independent lifestyle, and both are saving even though in school. Not all is lost.
Thank you, not just the young uns,lots have no appreciable savings
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