Posted on 06/12/2018 11:03:54 AM PDT by C19fan
Millennials expect to make it big some day, with more than half reporting that they believe they will eventually become millionaires, according to a new study.
Despite having crushing student loans (20 percent never expect to pay them off), credit card and other debt, people born between 1982 and 2000 share a confidence when it comes to their financial outlook.
'Young people are optimistic about the future,' said JJ Kinahan, chief strategist for TD Ameritrade, in a statement on the company's new report. 'On average, survey respondents expect to land a job in their chosen field and be completely financially independent by age 25.'
(Excerpt) Read more at dailymail.co.uk ...
/s ... as if I really needed to say so ...
GMTA
Vending machines will have to be reconfigured to accept the new one million dollar coins.
It’s funny that the TD Bank guy notes their optimism. But this isn’t optimism.
I’m a Gen X’er and my retirement plan is to eat Millennials.
Why wait, be one today, go to Zimbabwe.
They grew up on and were fed bogus stories of how the .com became rich.
A million dollars is not what it used to be.
Yeah. Of course that half calf soy latte with an extra shot will be 15k.....
Most likely 70% of Millennials are going to retire broke.
Under Socialism with Venezuela-like inflation numbers, that will happen.
Considering all the pent-up inflation and the Fed’s increasing the prime rate to screw Trump, I’d say it’s entirely possible.
They probably will be....
Of course by then a loaf of bread will cost $20 and a new pick-up truck will set you back $300,000.
. . .and they are going to get there the same way they got their participation trophies. . . .
Be a DC insider or bigwig elected official.
A million dollars isn’t exactly a lot of money these days - Number 2.
I do believe you are right-they don’t get that they have to be able to get and hold onto a JOB before they can make any money...
One of my neighbors is the not-so-proud mom to the guy who is believed to be the only snowflake in this rural area-she is also mom-in-law to his snowflake wife-both are in their late 20’s. Mr. Snowflake was a late born child, so mom is my age-like all the rest of us, she works for herself at her own one-person business-that is what “retirement” means out here-we work for and make money for ourselves-but the 2 snowflakes don’t get that they have to start by working for an employer-he can’t hold a job for more than 4-6 months and has been trying to qualify for a real estate license for over a year. They live on the acreage mom owns and lives on also-in a fair-sized cabin mom previously rented to snowbirds in Winter for extra cash-they do not pay rent, or have a separate electrical pole or water well-they don’t even offer to pay their share of water or electricity-they literally live off my neighbor and the income she busts her ass to make, with no end in sight-but they’ve saying for at least two years that they plan to move along on their own in “a couple of years”. We all think they are just going to mooch there until mom gets pissed and tired and throws them out...
Mr. and Mrs. Snowflake have a kid and he has two from a previous marriage-Mrs. Snowflake is looking for a business partner to bankroll her in a fitness gym-but has no money or equipment to put in-thinks her contribution to the venture should be that she “likes to work out”-she and Mr. Snowflake are both college grads-will someone please tell me how clueless, useless millennials like this are going to become millionaires-start robbing banks?...
That is a lot of money for picking up trash on the side of the road.
A million bucks ain’t what it used to be.
Using the standard 4% spending rate, your reliable retirement income from $1m is $40K per year.
How does that feel?
They’re going to be pissed as hell when they realize the extent to which they’ve been lied to by people they paid dearly to educate them.
Reminds me of the old saying, “(S)he’s got champagne dreams on a beer budget.”
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